Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding retail investment occupying a prominent high footfall pitch.
Arranged as a ground floor retail unit, the property is let to Bear Bookshop limited on a five year lease expiring 30.09.2025 and paying £15,000 per annum.
The property offers evident asset management potential via renewal of the lease and improvement of rents.
The property occupies a prominent pitch fronting the high footfall Bearwood Road. The street comprises the principal retail amenity for the area and is characterised by a mix of local and national retailers including Costa, Iceland and Aldi
Tenure
Leasehold - New 999 Year Lease at Peppercorn Rent
Tenancy
The property is let to Bear Bookshop limited on a five year lease expiring 30.09.2025 and paying £15,000 per annum.
The tenant is currently paying £14,000 per annum by way of a personal concession from the landlord, the Vendor will "top up" the rent to the contracted rent of £15,000 per annum from Completion.
The lease is on full repairing and insuring terms and we understand a rent deposit of £3,000 is held.
Rent
Notes
We understand the property is elected for VAT. It is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).
Joint Auctioneer
Joseph Bachman
07723 619 270