There is a tenant’s option to determine at years 5 and 10.
- Long leasehold retail investment in affluent south west London suburb
- Let to D Vine Cellars Ltd t/a Dvine Cellars until 2034
- Current rent £24,000 per annum
- Reflecting a gross yield of 8.57%
Leasehold. To be sold on a new 999 year lease from completion at a peppercorn.
The property is situated on the west side of Voltaire Road, just to the north of Clapham High Street (A3) and amongst multiple traders including Sainsbury's Local, Nando's, McDonalds as well as other established traders. Clapham High Street overground station is opposite the property and Clapham North underground station (Northern line) is also easily accessible. The open spaces of Clapham Common are within easy reach.
The property comprises a ground floor retail unit, trading as a wine bar, forming part of a substantial mixed use building arranged over ground-fourth floors. The property totals approximately 35.90 sq m (386 sq ft).
Please refer to Legal Documents
|Unit||Accommodation||Tenant||Tenancy||Rent Per Annum|
|Total|| || || ||£24,000|
|Unit 1, 1-7 Voltaire Road||Retail 35.90 sq m (386 sq ft)|
|D Vine Cellars Ltd (t/a Dvine Cellars) (in occupation since 2015)||15 years from 21/02/2019 (5 yearly reviews)||£24,000|
*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.
- The reserve price is the minimum price at which the property can be sold at auction.
- 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.
- 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).
- The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In the case of a joint agent this administration fee will be £2,000 (exclusive of VAT). 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.
- To participate in the sale BidX1 must hold a minimum amount of £4,500 from all bidders. This participation amount is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,500 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee of £1,000 inc. VAT payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
- Please note that Lots may be sold or withdrawn prior to auction.
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