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Lot 14 Click here for addendum

Retail Investment - Gross Yield 10.3%
6 Week Completion

Situation

Occupying a prominent position on the main A215 Walworth Road, close to the corner of Arnside Street. The busy ‘East Street Market' is on the same side of the road and the property is amongst such multiples as Tesco Express, Superdrug, Santander, McDonald's, Iceland, Cake Box, Screwfix, The Gym Group, Betfred, Poundstretcher and many more.
Elephant & Castle Station (Thameslink, Northern and Bakerloo Lines) and Kennington Station (Northern Line) are both within easy walking distance and 11 bus routes pass the door.
In addition, Westminster lies approx. 2 miles to the north.

Property

Forming part of a mid terraced building comprising a Ground Floor Shop and Basement.

Accommodation

Ground Floor Shop
Gross Frontage	20'1"
Internal Width	14'5"
Shop Depth	48'6"
Built Depth	68'5"
Sales Area	Approx. 680 sq ft
Storage Area	Approx. 200 sq ft
WC
Basement
Area	Approx. 395 sq ft

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 870 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 M&H Investments as a Furniture Shop for a term of 10 years from 3rd February 2025 (excl. s.24-28 of L&T Act 1954) at a current rent of £26,750 per annum exclusive.

Rent Review & Mutual Break 2030.

There is a 4 month 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.

397 Walworth Road, Walworth, London SE17 2AW