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Lot 2 Click here for addendum

Freehold Commercial/Residential Investment - Shop & Flat
In same family ownership for approx. 50 years
6 week completion

Situation

Located close to the junction with Beaconsfield Road within this well established retail thoroughfare amongst a host of independent retailers and a Co-Op Supermarket. In addition, the more extensive retail facilities of Surbiton town centre, which includes Surbiton Rail Station, lies approx. 1 mile to the north.
Surbiton lies within easy access to the A3 approx. 1½ miles south of Kingston-upon-Thames and approx. 11 miles south-west of central London.

Property

An end of terraced building comprising a Ground Floor Take-Away with separate side access to a Large Self-Contained Flat on the first and second floors with uPVC double glazing.
In addition, the property includes a Rear Yard.

Accommodation

Ground Floor Take-Away
Gross Frontage 30'2"
Internal Width 27'7"
Shop Depth 14'11"
Built Depth 28'7"
WC
External Store 21'1" (max) × 19'5" (max)
First & Second Floor Flat
First Floor: 2 Bedrooms, Kitchen
Half Landing: WC
Second Floor: 2 Bedrooms, Bathroom
(GIA of Flat Approx. 1,100 sq ft)

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to M. Gina as a Fish & Chip Take-Away for a term of 15 years from 27th October 2020 (with no breaks) at a current rent of £24,000 per annum exclusive.

Rent Reviews 2025 and 5 yearly.

Note 1: We understand the ground floor has been used as a fish & chip takeaway for over 40 years.

Note 2: The tenant also has a coffee shop further along the parade.

Note 3: We understand the tenant uses the flat to accommodate staff and family members.

Note 4: There may be potential to convert the flat into 2 separate flats, subject to obtaining possession and the necessary consents. Click here to view the floor plans that the Vendor had commissioned detailing such a scheme.

Note 5: There is a £7,000 Rent Deposit being held.

Note 6: There is a schedule of works in the lease which still has outstanding items that have not been completed by the tenant - refer to Legal Pack for full details.

Video Tour

Click here to view the video tour of the Flat.

Enquire about this lot:

JOINT AUCTIONEER:
Levinson & Co
Tel: 020 7486 3675 Ref: Keith Bailey
surbitonsurreysurveyor@gmail.com

*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.

281 Ewell Road, Surbiton, Surrey KT6 7AB