The two-storey property is of traditional brick construction beneath a pitched tiled roof, with rendered elevations.
( Agency Pilot Software Ref: 269 )
Location
The property is located in a secondary shopping parade in Lower Road at the junction with Lind Road and Thicket Road.
Sutton is a densely populated residential area and a thriving retail and commercial centre, situated approximately 12 miles south-west of central London, 5 miles west of Croydon, 10 miles north of Reigate and 7 miles south-east of Kingston. Heathrow and Gatwick Airports are also conveniently based with access via the M25/M4 and M25/M23 respectively.
Sutton mainline BR station provides fast regular services to both Victoria (26 minutes) and London Bridge (33 minutes).
Accommodation
Ground Floor Convenience Store - 79.11 sq m (852 sq ft)
First and Second Floor Flat (1A) - N/A
First Floor Studio (1B) - 16.63 sq m (179 sq ft)
Terms
The premises are available Freehold for sale, subject to the existing Lease for the ground floor retail unit.
Tenancies: The ground floor retail premises at 1 Lower Road has been let out on a Full Repairing and Insuring Lease for a term of 15 years from 29/09/2008 with five yearly rent reviews, held outside the Security of Tenure and Compensation Provisions of the Landlord & Tenant Act 1954 (as amended) Part II. The current passing rental is £XXX per annum exclusive.
The flat at 1a Lower Road has been sold off on a long lease of 156 years from 24/06/1979, subject to a peppercorn Ground Rent.
The first floor studio at 1b Lower Road is currently vacant and in need of refurbishment.
VAT: The property has not been elected for VAT.
Price: Offers are sought in excess of £XXX
Rates: According to the VOA website, the ground floor shop has a Rateable Value of £XXX Therefore, Rates Payable in the current financial year for 2018-2019 are £XXX
NB: Please note that the rates actually payable may be subject to transitional relief. For a more accurate assessment of rates payable for the current year, please contact the Local Authority.
EPC: The ground floor shop has a current rating of D (96). The first floor studio has a current rating of E (40).
Legal Costs: Each party is to be responsible for their own costs in this transaction.