0 Bed Retail Property (high Street) For Sale

Interested parties should contact Knight Frank Auctions for further information.



Description

The property comprises a ground floor retail unit extending to approximately 748 sq ft (69.5 sq m) (1). It forms one of two commercial units at the base of Dibdin Apartments, with the adjacent occupier being Tesco Express.

(1) Areas obtained from the VOA



Tenure

Leasehold.

999 years from 01/04/2016 (thus approximately 990 years remaining).

Ground rent is nil.

Service charge for '25 is £1,201.48 per annum



Tenancy

Let to American Dry Cleaning Company Limited (40+ branches in London (2)) at £33,000 per annum, for a term of 10 years from 19/09/2023. Tenant option to break and rent review in 2028.

(2) According to


VAT

Refer to legal pack



Viewings

Please view during opening times and we ask that you do not disturb the tenant or customers



Location

Situated in a mixed commercial and residential area on the east side of Blackfriars Road, close to its junction with Borough Road and Westminster Bridge Road.



Dibdin Apartments (above) accounts for 336 residential units and neighbouring occupiers include Tesco Express, Sainsburys Local, Starbucks, Costa and Banning Dental Group.



Occupancy

Tenanted



Tenure

Leasehold



The buyers fee is including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property.



Auction Details

The sale of this property will take place on the stated date by way of and is being sold as Unconditional.

Binding contracts of sale will be exchanged at the point of sale.

All sales are subject to the Common Auction Conditions and Extra General Conditions.



Auctioneer Fees and Deposit

The following deposits and non-refundable auctioneer fees apply:



• 10% deposit, subject to a minimum of £5,000. The deposit contributes to the purchase price.

• Buyer’s Fee- the value of this fee will be listed against the property details, inclusive of VAT.



The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.

There may be additional fees contained within the Special Conditions of Sale, which can be viewed within the Legal Pack. You are strongly advised to read the Legal Pack carefully before bidding.



Additional Information:

For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.

This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.



Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.