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Lot 13

Commercial Investment – Gross Yield 10.9%
6 Week Completion

Situation

Located within this established parade of local traders all serving the surrounding residential area being only a short distance from the nearby recreational grounds of Wimbledon Common and Richmond Park.
Putney Vale lies just off the A3 being approx. 7 miles south-west of central London.

Property

Forming part of a terraced parade comprising a Ground Floor Shop.

Accommodation

Ground Floor Shop
Gross Frontage	15'5"
Internal Width	14'11"
Shop Depth	23'5"
Built Depth	34'9"
Separate Rear Store Area	Approx. 63 sq ft

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 125 years from 3rd March 1992 (thus having approx. 91¼ years unexpired) at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to T. Kumarasingham (catering equipment supplies - see Note) for a term of 16 years from 12th February 2024 at a current rent of £12,000 per annum exclusive rising to:

£15,000 p.a. in 2028
£18,000 p.a. in 2032
£21,000 p.a. in 2036

There is a £6,000 Rent Deposit held.

Note: The tenant also trades from both the Convenience Shop (No.10) and the Take-Away (No. 12) in this same parade.

*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.

6a Frensham Drive, Putney Vale, London SW15 3EA