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Lot 8

Retail Investment – see Note 1
6 Week Completion

Situation

Located close to the junction with the pedestrianised section of North End in the heart of Croydon's retail centre nearby such multiple retailers as JD Sports, Vodafone, Deichmann, Foot Locker, Greggs, Tesco Express, Vision Express, Holland & Barrett, Card Factory and many more.
The area is well served by public transport with West Croydon Station (Southern) and West Croydon Tramstop and Bus Station all in close proximity.
Croydon is a principal retail centre approx. 9 miles south of central London being adjacent to the A23 which gives direct access to the National Motorway Network via the M23 and M25.

Property

Comprising a Single Storey Ground Floor Shop.

Accommodation

Ground Floor Shop
Gross Frontage	17'2”
Built Depth	24'1”

VAT is applicable to this Lot

Tenure

Leasehold for a term of 999 years from completion at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease by way of service charge to Juice IT Limited (not currently trading - see Notes 1 & 2) for a term of 10 years from 20th May 2020 (excl. s24-28 of the L & T Act 1954) at a current rent of £9,800 per annum inclusive of VAT (£8,166.67 plus VAT).

Rent Review 20th May 2025

Note 1: The tenant is not currently trading and owes rent totalling approx. £48,310 including VAT and buildings insurance premiums totalling £1,084.84. The Purchaser will not be liable to pay these arrears to the Freeholder and on completion, the Purchaser will be assigned the benefit of these arrears at no additional cost.

Note 2: The arrears position stated in Note 1 above may provide grounds to obtain vacant possession - Applicants should take their own legal advice in this respect.

Note 3: There maybe potential to convert the property into alternative uses including Residential, subject to obtaining possession and the necessary consents.

Note 4: The first and second floors of the adjoining property (69 North End) is also being offered for sale in this auction - see Lot 7.

Enquire about this lot:

JOINT AUCTIONEER:
Huggins Stuart Edwards
Tel: 020 8688 8313 Ref: Michael Angus
michael.angus@hsedwards.co.uk

*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.

1 Drummond Road, Croydon, Surrey CR0 1TT