Freehold Retail & Residential Investment with Car Parking
Located in an Affluent Commuter Surrey Town
Comprises 2 shops, self contained 3 bedroom flat and a rear yard
Occupiers nearby include Waitrose, Caffe Nero, Boots, WHSmith, Sainsbury`s and Cancer Research
VAT-Free Investment
Lot 12
Auction 10th December 2020
Rent £52,900 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
On Instructions of a Major Fund Manager
Property Information
Location
Miles
3 miles north east of Epsom
6 miles west of Croydon
12 miles south-west of Central London
Roads
A232, A2043
Rail
Cheam Rail
(regular services to London Victoria in 39 minutes)
Air
London Heathrow Airport
Situation
Cheam is an affluent Surrey commuter suburb located 6 miles west of Croydon, 3 miles north east of Epsom and 12 miles south west of Central London.
The property is located on the east side of The Broadway (A2043) close to its junction with Ewell Road/High Street (A232). Cheam railway station is 300 metres to the south with regular service to London Victor1a (39 minutes) and Cheam Park is within 100 metres to the west. Occupiers nearby include Waitrose, Caffe Nero, Boots, WHSmith, Sainsbury`s and Cancer Research
Tenure
Freehold.
Location
Miles
3 miles north east of Epsom
6 miles west of Croydon
12 miles south-west of Central London
Roads
A232, A2043
Rail
Cheam Rail
(regular services to London Victoria in 39 minutes)
Air
London Heathrow Airport
Situation
Cheam is an affluent Surrey commuter suburb located 6 miles west of Croydon, 3 miles north east of Epsom and 12 miles south west of Central London.
The property is located on the east side of The Broadway (A2043) close to its junction with Ewell Road/High Street (A232). Cheam railway station is 300 metres to the south with regular service to London Victor1a (39 minutes) and Cheam Park is within 100 metres to the west. Occupiers nearby include Waitrose, Caffe Nero, Boots, WHSmith, Sainsbury`s and Cancer Research
Tenure
Freehold.
Description
The property comprises 2 ground floor shops with a self contained 3 bedroom flat at first.The property benefits from a rear yard accessed via The Broadway.
VAT
VAT is not applicable to this lot.
Planning
The property may benefit from further development to the rear and second floor level, subject to all necessary permissions/consents and the current tenancies. Interested parties are referred to Sutton Council (see www.sutton.gov.uk)
EPC
See legal Pack at www.acuitus.co.uk
Description
The property comprises 2 ground floor shops with a self contained 3 bedroom flat at first.The property benefits from a rear yard accessed via The Broadway.
VAT
VAT is not applicable to this lot.
Planning
The property may benefit from further development to the rear and second floor level, subject to all necessary permissions/consents and the current tenancies. Interested parties are referred to Sutton Council (see www.sutton.gov.uk)
EPC
See legal Pack at www.acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
6 - Ground
Retail
72.50 sq m
(813 sq ft)
Individual t/a Piggies Cafe (1)
10 years from 25/12/2017
£17,400
25/12/2022 (24/12/2027)
8 - Ground
Retail
146 sq m
(1,572 sq ft)
Maurice George Fitness Limited with personal guarantee
10 years from 12/10/2020 (2)
£25,000 (2) (3)
12/10/2023 uplift to £27,500
6a - First
Residential
120 sq m
(1,292 sq ft)
Individual
AST
£10,500
- 3 bedrooms
(1) Piggies was first established in 1985 and has been in Cheam Village since 1992 making us the oldest Sandwich and Coffee Bar in the heart of Cheam Village. After a complete refurbishment in April 2011 we then changed the name to Caffe-Neo however due to customer feedback Piggies returned in February 2014. (Source: www.piggiescheam.com) (2) Rental uplift in Year 3 to £27,500 per annum. Tenants option to determine in the 5th year and a Rent Deposit of £6,875 held. (3) There is a 3 month rent free period, followed by 6 months at half rent. The seller will adjust completion monies so that the unit effectively produces £25,000 pa from completion of the sale.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
