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Lot 20 Click here for addendum

Commercial Investment – Gross Yield 13.33%
6 Week Completion

Situation

Occupying a prominent main road trading position at the junction with Old South Lambeth Road, forming part of an established local parade of Shops, Cafes & Restaurants, serving the surrounding predominantly residential area.
The property is within easy walking distance of Nine Elms Underground Station (Northern Line) and the Battersea Power Station redevelopment and is only half a mile from the Oval Cricket Ground and 2 miles south-west of Central London.

Property

Comprising a Ground Floor Shop with Basement.

Accommodation

Ground Floor Shop
Gross Frontage 13'6"
Internal Width 11'11"
Shop Depth 26'0"
Basement
Storage Area Approx. 250 sq ft
WC

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term from 21st August 2013 to 30th March 2075 at a fixed ground rent of £50 p.a. (thus having approx. 51 years unexpired).

Tenancy

The property is let on a full repairing and insuring lease (subject to a photographic schedule of condition) to Greenacre (Property Management) Limited as an Estate Agent for a term of 10 years from 5th November 2019 (in occupation since 2010) at a current rent of £12,000 per annum exclusive.

Rent Review November 2024 (see Note 1)

Note 1: The November 2024 rent review has been agreed at £13,000 p.a.

Note 2: The November 2024 Tenant's Break Clause was not exercised.

*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.

3A Victoria House, South Lambeth Road, Vauxhall, London SW8 1QT