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Lot 4

Freehold Investment - Shop & 2 Bed Flat - Gross Yield 8.7%
On behalf of Trustees
6 Week Completion

Situation

Located within this established local parade which includes a Co-op Food and William Hill serving the surrounding residential area and being approx. 1½ miles from Horsham Town Centre.
Horsham is an attractive commercial centre located on the main A24 midway between Guildford and Brighton, approx. 7 miles south-west of Crawley, with excellent road links via the A264 to the M23 (Junction 11).

Property

A mid terraced building comprising a Ground Floor Shop with separate rear access to a Self-Contained Flat on the first floor.
In addition, there is front layby parking for customers, a loading area and communal Car Park at the rear.

Accommodation

Ground Floor Shop
Gross Frontage	17'6"
Internal Width	16'6" (max)
Shop Depth	49'0"
WC
First Floor Flat
2 Bedrooms, Living Room, Kitchen, Bathroom/WC

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to D.Patel as a Newsagent/Post Office for a term of 15 years from 15th June 2020 at a current rent of £24,000 per annum exclusive rising to £24,500 p.a. in June 2027 and £25,000 p.a. in June 2028.

Rent Review 2030

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.

8 & 28 Roffey Parade, Fitzalan Road, Horsham, West Sussex RH13 6AA