546/546a London Road,
North Cheam
Surrey
SM3 9AA

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
    24/Sep/2021
  • Rent
    £27,100 per Annum Exclusive
  • Status
    Sold
  • Price*
    £465,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 546/546a London Road,, North Cheam, Surrey, SM3 9AA
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

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.

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

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReviews
GroundRetail
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 & SecondResidential
3 Bedrooms
INDIVIDUAL1 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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    03.09.21
    File Size
    771 KB
    View PDF
  • Site Plan
    Updated Date
    03.09.21
    File Size
    841 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854 +44 (0)7824 705 955billy.struth@acuitus.co.uk
Seller's Solicitors
Irwin Mitchell LLP Belmont House, Station Way
Crawley
RH10 1JA
Lucy Barber 07425 620424lucy.barber@irwinmitchell.com

Useful Links

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