Lot 127 Freehold Commercial InvestmentAuction Date:
8th February 2023
300 Sangley Road, Catford, London, SE6 2JT
Currently let at £18,750 per annum, rising to £25,000 from 3rd November 2023
This terraced two storey building is being offered as a freehold commercial investment opportunity in a popular and busy part of Catford, South East London. This established section of Sangley Road provides the surrounding local residential area with local shopping necessities and facilities, and is within easy reach of Catford Broadway. The building also includes a first floor flat, which was sold on a lease that expires in 2088.
Ground Floor - Shop
Two main rooms/offices, store, kitchen and W.C., meeting room, two smaller rooms/offices and external yard area. The plan shows the ground floor to be approximately 112 sq.m. and the non-domestic energy assessment rating is D.
Tenancy
Let on a commercial lease from 3rd November 2022 for a term of 10 years at an initial annual rent of £18,750 until 2nd November 2023, then rising to £25,000 per annum from 3rd November 2023 until the next rent review date, as set out by the lease. We understand from the seller that the new tenant will begin trading at the shop from 27th January 2023.
First Floor Flat
Known as 300A Sangley Road is held on a 99-year lease from 25th December 1989 at a peppercorn ground rent.
Tenure
Freehold, subject to the existing commercial tenancy of the shop and the remaining leasehold of the first floor flat.
Auctioneer’s Note
At the time of publication, the Auctioneers have not inspected the shop internally.
The accommodation details have been taken from the lease plan attached to the lease.
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
