FOR SALE BY AUCTION - LOT 4
HIGH STREET FREEHOLD INVESTMENT BUILDING
(Retail with residential upper parts)
- Gross Income £46,700 pa
- Potential to add additional flat (STPP)
- High Street location
- Walking distance from Whitton railway station
- Various neigbouring retail occupiers
- Residential upper parts
The property is arranged on ground and two upper floors to provide a ground floor retail shop currently let to an establised tenant. Both first and second floors each comprise a two bedroom flat which are accessed from the rear of the building.
EPC Rating: Refer to legal documents
Vendor’s Solicitor: Mr Simon Doyle, Ascot Lawyers, Tel: 01344 512370, Email: simon.doyle@ascotlawyers.co.uk
Location
Whitton is a popular residential suburb of the Borough of Richmond-upon-Thames and is located immediately to the north of the A316, 1 mile to the west of Twickenham and 3 miles to the west of Richmond. The A316 provides direct access to the M3 and thus the M25 and national motorway network. Heathrow Airport lies 5 miles to the west. The property is situated in a central position on the west side of the busy High Street, which is the main retail thoroughfare in Whitton. Whitton railway station is within a minutes’ walk of the property.
Occupiers close by include Tesco Express, Boots, Lloyds Bank, Sainsbury’s Local, Barclays Bank, Greggs, Costa, Cancer Research, Post Office and Lidl amongst many others.
Accommodation
80 (Ground Floor Retail) - 1,087 sq ft (101 sq m) - Tenancy in place to Mr G T Organ (t/a Additional Aids) for a term of 10 years from Feb 2017 with 5 year tenant only break option
Current Rent - £21,500 pa
Rent Review - February 2022
80a (First Floor Residential) - 2 bedroom flat - Subject to an Assured Shorthold Tenancy for a term of 1 year from Dec 2016
Current Rent - £12,600 pa
80b (Second Floor Residential) - 2 bedroom flat - Subject to an Assured Shorthold Tenancy for a term of 1 year from Feb 2017
Current Rent - £12,600 pa
Total Gross Income - £46,XXXa
Specification
Additional Information
*Guide Price: This is an indication of the seller's current minimum acceptable price at Auction. The guide price is given to assist prospective buyers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the Auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the Auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the Auction.
*Reserve Price: The seller's minimum acceptable price at Auction and the figure below which the Auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the Auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the Auction.
*Please note that the following additional fees will apply to the purchase of your property:
1. A successful purchaser will have to pay a buyer's premium of £750 plus VAT directly to the Auctioneer
2. Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to prospective buyers prior to Auction. Buyers will be will be expected to sign this document as well as the Sales Memorandum at the time of purchase.
3. Stamp Duty will have to be paid in addition to the sale price. Stamp Duty rates are available online
4. Prospective buyers must factor in solicitor fees and any survey fees
5. Insurance - it is the responsibility of the buyer to insure the property purchased from the date of exchange.