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Lot 37 Click here for addendum

By order of Executors
6 Week Completion

Situation

Occupying a prominent trading position on New Malden High Street close to the junction with Burlington Road, adjacent to Foxtons and amongst such multiples as Pizza Express, Pizza Hut, Boots, WH Smith, Costa, Subway, Greggs, KFC, Wilko and being directly opposite Nando's.
New Malden is a prosperous suburb situated approximately 9 miles south-west of central London, benefiting from good transport links via the A3 and being only approximately 600 yards from New Malden Railway Station.

Property

A mid-terrace building comprising a Ground Floor Restaurant with separate rear access to a Self-Contained Flat at first and second floor levels. The property includes a Rear Yard area.

Accommodation

Ground Floor Restaurant (having 44 covers)
Gross Frontage 17'4
Internal Width 15'7”
Shop Depth 39'11”
Built Depth 78'4”
Sales Area Approx. 410 sq ft
Kitchen Area Approx. 190 sq ft
Store Area Approx. 240 sq ft
Ladies & Gents WCs
First and Second Floor Flat
4 Rooms, Kitchen, Bathroom/WC
GIA Approx. 860 sq ft

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to Sorabol Limited as a Korean restaurant for a term of 30 years from 24th June 2004 (by way of a reversionary lease) at a current rent of £28,000 per annum exclusive.

Rent Reviews June 2019 and 5 yearly

Note: The tenant has made an application to assign the lease to a Kebab Restaurant & take-away operator.

*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.

180 High Street, New Malden, Surrey KT3 4ES