February 2022: Wednesday 09 February 2022 - 9:30am
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    Key features

    • Investment let at £45,000 pa (6.92% on Guide Price)
    • landlord manages the property and therefore collects a Management charge of £1,500 + Vat
    • Let to tenants trading as Frazer Bradshaw Solicitors and Blue Harbour Restaurant
    • Solicitors let for 12 years from December 2020 until December 2032 (no breaks)
    • Restaurant let for 15 years from March 2015 until March 2030 (no breaks)
    • Planning Permission granted for construction of a single storey side extension to restaurant to provide a take away outlet
    • Popular London Commuter Town
    • Nearby occupiers include a large Sainsbury's & Argos Supermarket, Picture House Cinema, Primark, Domino's Pizza, William Hill and a number of independent shops and cafe's

    Description

    The property comprises two ground floor shops with six flats above which have been sold on long leases.

    Additional information

    Tenure

    Freehold

    Accommodation

    Approximate Floor Areas (provided by the Vendor)


    Frazer Bradshaw Solicitors

    Ground - Office, Kitchenette, WC 64.78 sq m (697 sq ft)

    Basement - Office, storage room 40.15 sq m (432 sq ft)


    Blue Harbour Restaurant

    Ground - Retail/Takeaway 143.4 sq m (1,544 sq ft)

    Basement - Storage 40.15 sq m (432 sq ft)


    Total Approximate Floor Area - 288.5 sq m (3,105 sq ft)


    Tenancy

    Frazer Bradshaw Solicitors - Let for a term of 12 years from 25th December 2020 until 24th December 2032 at £20,000pa. Next Rent Review in October 2025, and subsequently five yearly thereafter.


    Blue Harbour Restaurant - Let for a term of 15 years from 17th March 2015 until 16th March 2030 at £25,000pa. Rent reviews are four yearly.


    The upper parts have been sold off on one long lease at a peppercorn rent.


    Planning

    The property benefits from planning permission granted in November 2020 - 20/00520/FULL1 for the construction of a single storey side extension to the restaurant to provide a take away outlet. Please contact London Borough of Bromley for further information https://searchapplications.bromley.gov.uk/online-applications/.


    Rent

    £45,000

    Notes

    Please note the site areas provided are approximate. The photos and red line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. Prospective purchasers must rely upon their own enquiries in this regard.

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      Local information

      Bromley is an affluent and popular south-east London commuter town, approximately 10 miles south-east of the City Centre. The property is located in a prominent position on the west side of High Street, close to Bromley multi-storey car park (800 spaces). Nearby retailers include a large Sainsbury's & Argos Supermarket, Picture House Cinema, Primark, Domino's Pizza, William Hill and a number of independent shops and cafe's.

      Transport

      2 miles east of Beckenham

      10 miles south-east of Central London


      400m south-west of Bromley North Train Station (Southeastern)

      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