11 December 2024: Wednesday 11 December 2024 - 9:00am
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    Key features

    • Mixed use investment opportunity
    • Prime High Street retail unit let to Caffe Nero
    • Three bedroom split level flat above
    • Investment producing £61,200 per annum
    • Potential to increase the rent
    • Planning permission to convert the upper maisonette to 1 x 1 and 1 x 2 bedroom flats
    • VAT is applicable to the sale
    • Six weeks completion on this lot

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground floor shop - Seating area, Serving area, Wc's

    Approximate area 127 sq m (1,367 sq ft)

    First / Second floor - Three bedroom self-contained split level flat.

    Tenancy

    The ground floor retail unit is let to Caffe Nero on a 10 year lease from 3rd September 2018 at a rental of £45,000 per annum.

    The first and second floor flat is let on an AST at a rent of £1,350 per calendar month - it is considered this is below market rent.

    We are advised that the ERV for the flat is circa £2,000 per calendar month, interested parties should make their own enquiries.

    Planning

    Planning permission was granted by Kingston Council on 4th April 2023 for the erection of a second floor rear extension and conversion of the existing 3 bedroom flat to create 1 x 1 bedroom flat and 1 x 2 bedroom flat with cycle and refuse storage. Copies of the plans are available via the councils website Link

    Rent

    £61,200 per annum
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      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Situated to the west side of the High Street, close to the junction with Blagdon Road.

      A prime high street location, other nearby occupiers include Boots, WH Smith, Nationwide and Subway together with many other independent traders and restaurants.


      Transport

      New Malden Station - National Rail

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums