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Lot 21

Leasehold Ground Rent Investment
6 Week Completion

Situation

Located in this prime retail thoroughfare opposite Morden Underground Station (Northern Line) and amongst multiples including Costa Coffee, Merkur Slots, KFC, Boots, Subway, Kokoro, Holland & Barrett, Greggs and a host of independent traders.
Morden lies approximately 11 miles south-west of Central London.

Property

A substantial mid-terrace building comprising 2 Ground Floor Shops with separate rear access to 4 Self-Contained Flats on first and second floors. In addition, the property includes a rear yard with parking for approximately 5 cars.

Accommodation¹

Ground Floor Shop (Nos. 53/55)
Gross Frontage	29'8"
Sales Area	Approx. 2,002 sq ft
Store/Office Area	Approx. 583 sq ft
WCs
Ground Floor Shop (No. 53)
Gross Frontage	9'6"
Sales Area	Approx. 211 sq ft
WC
First & Second Floors
4 Flats - each believed to be 3 Rooms, Kitchen & Bathroom/WC

¹Not inspected by Barnett Ross. Areas taken from VOA.

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 99 years from 25th December 1934 (thus having approx. 8.75 years unexpired) at a fixed ground rent of £160 p.a.

Tenancy

The entire property is let on a full repairing and insuring lease to 5G Properties Limited for a term of 99 years (less10 days) from 25th December 1934 (thus having approx. 8.75 years unexpired) at a fixed rent of £1,275 per annum exclusive.

Note 1: The Freeholder is The Mayor & Burgesses of the London Borough of Merton.

Note 2: We understand the ground floor of the property is sub-let to Superdrug Stores Plc.

*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.

53/55 London Road, Morden, Surrey SM4 5HT