Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 2

ON BEHALF OF EXECUTORS
6 Week completion

SITUATION

Located in this town centre position, close to the junction with The Grove, opposite Betfred and adjacent to an Oxfam as well as a number of other multiples such as Nandos, Papa John's, Ladbrokes, Cash Converters and approx. 150 yards from the Observatory Shopping Centre.
The property benefits from excellent transport links being situated just over a mile of the M4 (Junction 6) which connects with the M25 (Junction 15) to the east.
Slough is a prosperous commercial town, located approximately 8 miles from Heathrow and approx. 20 miles from Central London.

PROPERTY

A mid terrace building comprising a Ground Floor Shop with separate rear access to a Self-Contained Flat on the first and second floors. In addition, the property benefits from the use of a rear service road, parking for 4 cars and a rear yard.

ACCOMMODATION

Ground Floor Shop
Gross Frontage 16'9"
Internal Width 16'5"
Shop Depth 33'0"
Built Depth 39'2"
WC
First & Second Floor Flat
4 Bedrooms, Living Room, Kitchen, Shower Room/WC
(GIA Approx. 1,055 sq ft)

VAT is applicable on 80% of the purchase price of this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Balfour Convenience Stores Ltd (part of the Co-Operative Group (CWS) Limited - see Tenant Profile) (not in occupation) for a term of 25 years from 10th October 2000 at a current rent of £13,900 per annum exclusive.

Rent Review September 2017

TENANT PROFILE

The Co-Operative Group is the UK's largest mutual business. The Group operates from 4,800 retail trading outlets, employs more than 106,000 people and has an annual turnover of more than £13bn (source: www.co-operative.coop).

Note 1: The lessees are not currently trading from the property, but they have requested freeholder's consent to sub-let the property as a convenience store - refer to Auctioneers.

Note 2: There is potential to extend at the rear, subject to obtaining the necessary consents.

*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 £1,000 plus 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.

285 High Street, Slough, Berkshire SL1 1BD