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

Lot 13

7 week completion

Situation

Close to the junction with Victoria Road and Surbiton Rail Station in the heart of the town centre, nearby multiples such as Lloyds Bank, HSBC, Pizza Express, Specsavers, William Hill and many others.
Surbiton is an affluent commuter town located approximately 11 miles south-west of central London and 1 mile south of Kingston. Surbiton Rail Station provides a direct rail service to London Waterloo whilst the town benefits from good road access via the A3.

Property

Forming part of a retail parade comprising a Ground Floor Shop together with a rear yard.

Accommodation

Ground Floor Shop
Gross Frontage 16'6”
Internal Width 15'9”
Shop & Built Depth 35'11”
WC

VAT is applicable to this Lot

Tenure
Leasehold for a term of 125 years (less 3 days) from 25th December 1979 (thus having approx. 86 years unexpired) at a fixed ground rent of £25 p.a.

Tenancy

The property is let on a full repairing and insuring lease to Co-operative Group Limited (having over 3,600 outlets) as a Funeral Parlour for a term of 10 years from 1st January 2018 (in occupation for approx. 40 years - renewal of a previous lease) at a current rent of £12,000 per annum exclusive.

Rent Review 2023

*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.

10 St James’ Road, Surbiton, Surrey KT6 4QH