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    Key features

    • To be offered on Tuesday 21 October
    • Prime Mixed-Use Investment Opportunity
    • Retail Unit with 3 x Flats to the Upper Parts
    • Ground Floor Let to British Heart Foundation
    • Lease Expires 05.10.2032
    • Upper Parts Let on Separate ASTs
    • Further Flat and 2 x Retail Units Sold Long Leasehold
    • Prime High Street Pitch
    • Investment Let at £114,300 p.a. (8.53% GIY on Guide Price)

    Description

    The property comprises a mixed-use investment opportunity occupying a prime pitch in the centre of Teddington.

    Arranged as three ground floor retail units with four residential units to the upper parts. The property is fully let, with two retail units and one of the flats sold off on a long leasehold basis. The investments therefore effectively comprises a single retail unit and three flats.

    The ground floor unit is let to British Heart Foundation on a 10 year lease expiring 05.10.2032 and paying £52,500 per annum.

    The upper parts are let on three separate Assured Shorthold Tenancy (AST) agreements expiring 17.12.2027 and paying a combined £61,800 per annum.

    The total rent is therefore £114,300 per annum. Please see the tenancy schedule and legal pack for more information.

    The property benefits from a prominent frontage to Broad Street, the prime retail pitch within Teddington. The street therefore benefits from high footfall and is characterised by a number of local and national occupiers including Superdrug, Caffe Nero and a Tesco Superstore which is immediately opposite the property.

    Additional information

    Tenure

    Freehold

    Tenancy

    British Heart Foundation


    • D&B Rating - 5A1 (Very Low Risk)
    • Turnover (2024) - £398.9m
    • Pre-Tax Profit (2024) - £12.7m


    British Heart Foundation is one of the UKs most recognisable charities trading from approx. 700 stores nationwide.

    Planning

    Whilst there are no extant planning consents, the property may benefit from development potential to the upper parts via contruction of a first and second floor above 33 Broad Street to match the aesthetic of the street (subject to obtaining the requisite consents).

    Rent

    £114,300 per annum

    Notes

    We understand the property is elected for VAT. It is ancticipated the sale can be treated as a Transfer of a Going Concern (TOGC)

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      Accommodation / Tenancy Schedule

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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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