Home > Auctions > December 2021 15 December 2021 - 9:00am > Lot 76

December 2021: Wednesday 15 December 2021 - 9:00am
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    Key features

    • An attractive period four storey mixed use investment / development opportunity.
    • Arranged as a ground floor double fronted retail unit
    • with three floors of self - contained offices above.
    • Potential for conversion of the upper floors to 6 flats
    • or shared accommodation subject to consents.
    • Currently producing £55,750 per annum
    • Rent review on the shop due next year

    Description

    An attractive brick built four storey terraced building arranged as ground floor - double fronted retail unit with offices above.

    Approximate area 391 sq m (4,217 sq ft)

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground floor double fronted retail unit - Sales area, Storage, Kitchen, WC's. Approximate area 289 sq m (3,120 sq ft)

    First floor - Two office suites - 36.1 sq m (388 sq ft)

    Second floor - Two office suites - 30.14 sq m (324 sq ft)

    Third floor - Two office suites - 30.17 sq m (324 sq ft)

    Total Floor Area 391 sq m (4,217 sq ft)

    (Floor areas have been sourced from the VOA. Interested parties must satisfy themselves in this regard.)

    Tenancy

    The ground floor retail unit is let to The Bed Post on a 12 year lease from 13/01/2017 to expire on 12/01/2029 at a rent of £38,000 per annum. There is a rent review on the 5th Anniversary and a personal guarantee on the lease.

    (The Bed Post have been in occupation for over 20 years).

    Five of the six office suites are let on short term agreements at a rental combined rental of £17,750 per annum.

    Planning

    It is considered that the upper floors may be suitable for conversion to residential - plans have been drawn up to provide for extension and conversion to 6 self-contained flats. Interested parties must rely on their own enquiries in this regard with Kingston Planning Department, telephone 020 8547 5000.

    Rent

    £55,750 per annum with one office suite vacant

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        Local information

        Surbiton is a popular and affluent London suburb approximately 12 miles south west of the city centre and 1.3 miles south of Kingston.

        The property is situated within a busy and well established retail parade close to the junction with Cottage Grove.

        Brighton Road links with Victoria Road which is the principal shopping area and provides many of the usual multiple retailers including Sainsbury's, Nationwide and Superdrug.

        There are many independent traders on Brighton Road and it is a popular position for local restaurants.

        Surbiton Station is 0.3 miles distant and provides a frequent commuter service to London Waterloo with a journey time of approximately 20 minutes.

        The River Thames is less than half a mile to the north and provides leisure and recreation opportunities.

        Transport

        Surbiton 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.

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