Ground Floor let to Baleday Limited until 2025 (no breaks) with fixed rental increase in 2020
Two residential flats on uppers
Nearby occupiers include Ladbrokes,Subway, Zizzi, William Hill, Nandos and Barclays Bank
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
Lot 31
Auction 11th February 2016
Rent
Status Sold
Price £1,070,000
Sector High Street Retail
Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Joint LPA Receivers
Property Information
Location
Miles
4.6 miles south of Wimbledon, 7 miles west of Croydon, 12 miles south of Central London
Roads
A232, A217, M25, M23
Rail
Sutton (Surrey) Railway Station
Air
London Gatwick Airport
Situation
Sutton is located within the London Borough of Sutton and is located 4.6 miles south of Wimbledon and 7 miles west of Croydon. The property is situated on the western side of the High Street close to its junction with Grove Road and Sutton Court Road. Nearby occupiers include Ladbrokes, Subway, Zizzi, William Hill, Nandos and Barclays Bank.
Tenure
Freehold.
Location
Miles
4.6 miles south of Wimbledon, 7 miles west of Croydon, 12 miles south of Central London
Roads
A232, A217, M25, M23
Rail
Sutton (Surrey) Railway Station
Air
London Gatwick Airport
Situation
Sutton is located within the London Borough of Sutton and is located 4.6 miles south of Wimbledon and 7 miles west of Croydon. The property is situated on the western side of the High Street close to its junction with Grove Road and Sutton Court Road. Nearby occupiers include Ladbrokes, Subway, Zizzi, William Hill, Nandos and Barclays Bank.
Tenure
Freehold.
Description
The property comprises a double fronted ground floor retail unit trading as an adult gaming centre, with two residential flats on the first and second floors.
Six Week Completion
Note
This property is being marketed for sale on behalf of Joint Law of
Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a double fronted ground floor retail unit trading as an adult gaming centre, with two residential flats on the first and second floors.
Six Week Completion
Note
This property is being marketed for sale on behalf of Joint Law of
Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground
Retail
144.92 sq m
(1,560 sq ft)
BALEDAY LIMITED (1) (t/a Cashino Gaming)
13 years 5 months from 01/07/2012 until 30/11/2025 on a full repairing and insuring lease
£45,928
01/12/2020 (2)
Flat 23A
Residential
INDIVIDUALS
12 month AST from 25/07/2015
£12,360
(24/07/2016)
Flat 25A
Residential
INDIVIDUALS
12 month AST from 25/07/2015
£14,523
(24/07/2016)
Total Commercial Floor Area
144.92 sq m
(1,560 sq ft)
£72,811
(1) Baleday Limited is a wholly owned subsidiary of Praesepe Holdings Limited. Founded in 2007, The Praesepe Group has in excess of 170 leisure outlets across the UK with brands including Cashino, Gaming, Beacon Bingo and The Crystal Rooms (Source: www.praesepeplc.com 07/01/2016) (2) The 2020 rent review provides a fixed uplift to £52,472 p.a.x