Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 7

Retail Investment let to One Stop Stores Limited - Gross Yield 8%
6 Week Completion

Situation

Located close to the junction with Mill Green Road in this residential area, adjacent to both Peartree Primary School and Peartree Lane Doctors' Surgery and being approx. ¾ mile from the town centre and Railway Station.
Welwyn Garden City is a popular Hertfordshire town located approx. 25 miles north of London and benefits from good road access via the A1(M) (Junctions 4, 5 & 6).

Property

A semi-detached building comprising a Ground Floor Shop with internal access to Ancillary Accommodation on the first floor.

Accommodation

Ground Floor Shop
Gross Frontage	20'1"
Internal Width	18'11"
Shop Depth	54'9"
Built Depth	58'9"
Area	Approx. 1,000 sq ft
First Floor Ancillary
Area	Approx. 600 sq ft incl. WC

Total Area	Approx. 1,600 sq ft

VAT is applicable to this Lot

Tenure

Leasehold for a term of 125 years (less 6 days) from 9th September 1992 (thus having approx. 91 years unexpired) at a fixed ground rent of £100 p.a.

Tenancy

The entire property is let on a full repairing and insuring lease (refer to lease) to One Stop Stores Limited (a subsidiary of Tesco and having over 1,000 branches) (T/O for Y/E 22.02.25 £1.29bn, Pre-Tax Loss £2.6m and Shareholders' Funds £145.3m) for a term from 21st February 2025 to 31st July 2037 at a current rent of £17,000 per annum exclusive.

Rent Reviews 2027 and 2032

Tenant's Breaks 2032 and 2037

Note: The adjacent semi-detached unit, which has been trading as ‘One Stop' for at least approx. 20 years, interconnects with Unit 1 at ground floor level, but it is not included in the sale.

*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.

126 Peartree Lane, Welwyn Garden City, Hertfordshire AL7 3XW