12 February 2025: Wednesday 12 February 2025 - 9:00am
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    Key features

    • High Yielding Mixed-Use Investment Opportunity
    • Multi-Let to Two Tenants
    • Asset Management Potential
    • Development/Conversion Potential (stp)
    • Established and Popular Location
    • Investment Let at £49,000 p.a. (10% GIY on Guide Price)

    Description

    The property comprises a high yielding mixed use investment forming part of a popular retail parade in central Bromley.

    Arranged across ground, first and second floors, the property comprises a ground floor retail unit with separately accessed commercial upper parts.

    The property is fully let to two tenants and producing a total income of £49,000 per annum.

    19 Widmore Road is let to a 1917 Chill Cafe on a seven lease expiring 24/12/2030 and producing £32,000 per annum.

    19A Widmore Road is let to Pond Group on a five year lease expiring 24/03/2028 and paying £17,000 per annum.

    The property benefits from asset management potential, with both leases benefitting from 3 yearly rent reviews. There may also be potential to convert the upper parts to alternative uses, including residential (subject to the existing leases and any requisite consents).

    The property occupies a prominent pitch on Widmore Road, a popular, high footfall, street immediately to the north of the pedestrianised centre of Bromley. The street also forms one of the principal pedestrian routes between the Glades Shopping Centre and Bromley North Station. The area is characterised by a mix of local and national retailers, in particular restaurants and other leisure tenants including Pizza Express, Nando's, Franco Manca and Five Guys.

    Additional information

    Tenure

    Freehold

    Rent

    £49,000
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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.

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      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

      • Bromley North - 0.2 miles
      • The Glades Shopping Centre - 0.1 miles

      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