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Lot

20

202 and 202 A and B Upper Richmond Road West, East Sheen, SW14 8AN

Property Enquiries

Rob Hills

rob.hills@bidx1.com
+44 (0)20 3929 8402

Property Enquiries

Andrew Weeks

aweeks@flcproperty.co.uk
020 8332 2707

Viewings/Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Ms R. Skillcorn

rhapsody@perfectlylegalllp.co.uk
020 3602 1016

Description

Map

Viewings


Property Summary
  • Freehold retail/residential investment
  • Prominent two storey corner building
  • Arranged as two ground floor retail units with 3 flats above
  • Two shops let/flats sold on long leases
  • Prominent position
  • Producing £41,000 per annum
Tenure

Freehold

Location

East Sheen lies about 8 miles south west of central London and 1.5 miles east of Richmond upon Thames. The property is situated at the junction with Thornton Road within a busy high street parade of shops serving a large residential catchment area. Nearby occupiers include Natwest Bank, Waitrose, Pizza Express and Boots as well as many other bars, restaurants and local traders. Further trade may be gained from the high level of vehicular traffic and pedestrian footfall going to and from nearby Mortlake railway station.

Description

The building is arranged as two ground floor retail units with three flats at first and second floor levels. The flats have been sold off on one long lease.

Accommodation

Unit Accommodation Tenancy Rent (£pa)
202 Retail area, office, ancillary storage. Gross internal area approximately 66.42 sq m (714 sq ft) Let to Marsh & Parsons Limited (a wholly owned subsidiary of LSL Plc) on a FRI lease for a term of 15 years from 25/12/2017 with tenants break 25/12/2027 at a rent of £23,500 per annum. £23,500
202 A & B Retail area, rear office. Gross internal area approximately 46.25 sq m (497 sq ft) Let to an individual who is currently fitting out and will be trading as a beauty treatments salon on a 10 year FR&I lease from 09/04/2018 with a tenants only break clause at the fifth anniversary, at a rental of £16,000 per annum. £16,000
Flats 1, 2 & 3 Sold on one lease for a term of 125 years from 15/03/2017 at a ground rent of £1,500 per annum £1,500
TOTAL £41,000

Note: The building has not been internally inspected by the auctioneers. Areas provided are from the Valuation Office Agency (VAO). Interested parties must rely on their own enquires.

VAT
Please refer to the legal documents.

*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted "subject to contract". Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. A minimum participation fee of £4,500 must be paid by all bidders who wish to partake in the auction. A participation fee of £4,500 is comprised of the £1,000 (inclusive of VAT) administration fee payable directly to BidX1 and £3,500 relating to your bidder security (partial deposit payment). A higher participation fee may be payable depending on the reserve price of the Lot. However, even in those circumstances, the administration fee shall remain at £1,000 (inclusive of VAT). The participation fee is fully refundable if you do not make the successful bid in relation to a Lot at auction. If you make a successful bid in relation to a Lot at auction your participation fee is non-refundable.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.