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Lot 11

Freehold Retail Investment – Gross Yield 9%
6 Week Completion

Situation

Located amongst a host of independent retailers in the town centre, close to the junction with High Street and the A22 (Godstone Road) and less than 100 yards from Purley Rail Station, (the entrance of which is diagonally opposite), all serving the surrounding residential population.
Purley lies 3 miles south of Croydon and 12 miles south of central London.

Property

A mid terraced building comprising a Ground Floor Shop with internal access to Ancillary/Store on the first floor.
In addition, the property includes a Front Forecourt used as a seating area.

Accommodation¹

Ground Floor Shop
Gross Frontage	13'3”
Built Depth	22'0”
First Floor
Ancillary/Store Area	Approx. 185 sq ft

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

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Hamid Ghaffari as a Greek Gyro Take-Away for a term of 20 years from 25th September 2024 at a current rent of £19,000 per annum exclusive.

Rent Reviews 2029 & 5 yearly.

Note: There is a £9,500 Rent Deposit held.

*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.

3 Whytecliffe Road South, Purley, Surrey CR8 2AY