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Lot 1 Click here for addendum

Freehold Commercial/Residential Investment
On behalf of Trustees
6 Week Completion

Situation

Located close to the junction with Kirkham Street and opposite Plumstead Common, in this fully occupied retail parade serving this popular residential area.
Plumstead Common is situated approximately 1 mile south-east of Woolwich and 1½ miles north-west of Welling in South East London.

Property

A mid terrace building comprising a Ground Floor Shop and Basement with separate rear access to a Self Contained 1 Bed Flat on the first floor. The property includes a Garage/Store and benefits from the use of a rear service road.

Accommodation

Ground Floor Shop
Gross Frontage	16'10”
Internal Width	15'9”
Shop Depth	24'10”
Built Depth	43'0”
Basement (Low Headroom)
Area	Approx. 190 sq ft
External WC
Garage/Store
Area	Approx. 185 sq ft
First Floor Flat
Not inspected - Believed to be 1 Bedroom, Living Room, Kitchen, Bathroom/WC

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to G. Stone (lease currently being assigned - refer to Auctioneers) for a term of 10 years from 13th June 2023 (renewal of a previous Lease) at a current rent of £17,000 per annum exclusive (rising to £18,000 p.a. in June 2025, £19,000 p.a. in June 2026 and £20,000 p.a. in June 2027).

Rent Review 2028

Note: We understand the Tenant sublets the Flat at £11,700 p.a. (£975 pcm).

*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.

8 The Slade, Plumstead Common, London SE18 2NB