Freehold Retail & Residential Investment in Affluent Greater London Suburb
Shop let on new 15 year lease renewal (No Breaks)
Shop tenant in occupation since 2008
Includes a large self-contained recently refurbished 3 bedroom maisonette above let on AST
VAT-free Investment
Lot 1
Auction 24th September 2021
Rent £27,100 per Annum Exclusive
Status Sold
Price £465,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
3 miles north east of Epsom
6 miles west of Croydon
12 miles south-west of Central London
Roads
A24, A2043
Rail
Cheam Rail (39 minutes to London Victoria)
Worcester Park Rail Station (29 mins to London Waterloo)
Air
London Airports: Heathrow (11 miles),
Gatwick (18 miles), City (15 miles)
Situation
Cheam is an affluent London 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 situated in North Cheam in a prominent location on London Road (A24), near its junction with Cheam Common Road/Malden Road (A2043). Nearby occupiers include Sainsbury`s, McDonalds, Costa, Pizza Hut, Greggs and a variety of local retailers.
Tenure
Freehold.
Location
Miles
3 miles north east of Epsom
6 miles west of Croydon
12 miles south-west of Central London
Roads
A24, A2043
Rail
Cheam Rail (39 minutes to London Victoria)
Worcester Park Rail Station (29 mins to London Waterloo)
Air
London Airports: Heathrow (11 miles),
Gatwick (18 miles), City (15 miles)
Situation
Cheam is an affluent London 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 situated in North Cheam in a prominent location on London Road (A24), near its junction with Cheam Common Road/Malden Road (A2043). Nearby occupiers include Sainsbury`s, McDonalds, Costa, Pizza Hut, Greggs and a variety of local retailers.
Tenure
Freehold.
Description
The property comprises a ground floor shop with a large 3 bedroom recently refurbished maisonette above on the first & second floors. The maisonette is accessed separately from the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack at www.acuitus.co.uk
Description
The property comprises a ground floor shop with a large 3 bedroom recently refurbished maisonette above on the first & second floors. The maisonette is accessed separately from the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack at www.acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Retail
47.06 sq m
(506 sq ft)
C X CAO and A P CAO (t/a New York Nails) (2)
15 years from 25/06/2021
£16,000 (1)
25/06/2026 & 25/06/2031
First & Second
Residential
3 Bedrooms
INDIVIDUAL
1 year AST from 13/04/2019 at £925 pcm
£11,100
Total Commercial
47.06 sq m
(506 sq ft) plus a 3 bed maisonette
£27,100 (1)
(1) The lease is subject to fixed rental increases over the first five years of the term, commencing at £10,000 pa for year 1 and rising to £16,000 pa by year 5. The Vendor has agreed to adjust the completion monies, so that the property effectively produces £16,000 pa from completion of the sale until the fixed rental increase at the commencement of year 5-please see Special Conditions of Sale. (2) The tenant has been in occupation since 2008 & a rent deposit of £6,250 is held.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
