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Lot 10 Click here for addendum

Commercial Investment – Gross Yield 10%
6 Week Completion

Situation

Located within this established parade serving the surrounding affluent residential area and being opposite the Bligh's Mews Shopping Centre, Marks & Spencer and a shopper's car park.
Sevenoaks lies approx. 12 miles south of Dartford, 10 miles north of Royal Tunbridge Wells and 20 miles south-east of central London and benefits from excellent road links via the Sevenoaks Bypass which connects with the M25 (Junction 5) and M26.

Property

Forming part of a terraced building comprising a Ground Floor Shop.

Accommodation

Ground Floor Shop
Gross Frontage 17'3"
Internal Width 15'7"
Shop & Built Depth 18'8"

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from completion at a peppercorn ground rent.

Tenancy

The property is let on an effectively full repairing and insuring lease to R. Sopal as a Cobblers for a term of 10 years from 3rd August 2023 (renewal of a previous lease - in occupation since 2018) at a current rent of £13,500 per annum exclusive.

Rent Reviews 2027 and 2031

Tenant's Break 2028

Note: There is a £2,750 Rent Deposit held.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

67c London Road, Sevenoaks, Kent TN13 1AU