FOR SALE BY AUCTION - LOT 2
FREEHOLD RETAIL INVESTMENT
(with two residential flats above)
- Gross Income £XXX pa
- Upcoming rent review
- 9 year lease from May 2014 on ground floor
- Rent review May 2017 for retail shop
- Town Centre location
- Residential upper parts
The property is arranged on ground and two upper floors to provide a ground floor retail shop currently let as a hair & beauty salon. The first floor above comprises a one bedroom flat and second floor comprises a two bedroom flat. Both flats are accessed from the rear and there is one shared car parking space.
EPC Rating: C
Vendor’s Solicitor: Mr SS Viring, Shergill & Co Solicitors, Tel: 020 8814 3258, Email: sukh@shergills.co.uk
Location
Twickenham is located in the popular and affluent London Borough of Richmond, some 10 miles west ofCentral London. The area benefits from excellent communications via the A316 which links directly with the M3 motorway, 2 miles to the west. The M4, M25 and M40 motorways are also easily accessible. Heathrow Airport is some 6 miles to the east and Twickenham Mainline Station provides regular rail services to London (Waterloo). Twickenham itself benefits from Twickenham Rugby Stadium, the home of English Rugby, which shows major sporting events such as International Rugby Union and Rugby Union Club games. Heath Road (A305) runs west from Twickenham town centre and the property is located on a busy retail parade which is a short distance form Twickenham Green. Occupiers close by include a number of local specialist retailers such as M&S Simply Food who neighbour the property.
Accommodation
6 Ground Retail - 691 sq ft (64.20 sq m)
Tenancy in place to Bahareh Godarzi for a term of 9 years from 19th May 2014
Current Rent - £XXX pa
Rent Review - 27th May 2017
6a First Residential - 1 bedroom flat
Subject to an Assured Shorthold Tenancy for a term of 1 year from 30th Sept 2016
Current Rent - £XXX pa
6b Second Residential - 2 bedroom flat
Subject to an Assured Shorthold Tenancy for a term of 1 year from 25th Aug 2016
Current Rent - £XXX pa
Total Gross Income - £XXX pa
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 £XXX 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.