9/9a The Broadway
Cheam
SM3 8BH
FREEHOLD RETAIL INVESTMENT - BEST BIDS BY 04/12/2024 GUIDE PRICE £200,000
929 sq ft
Retail Investment
£200,000
Under Offer
Key Features
- Best Bids by Wednesday 4th December 2024 – Guide Price £200,000
- Freehold retail & ground rent investment
- Sports shop let at £17,500 per annum
- Lease renewal September 2026
- Flat sold on long lease with 121 years unexpired
- Good public transport links
- Strong central Cheam location
- No VAT
Tenancy
The ground floor retail unit is currently let to Mr Goodliffe, trading as Cheam Sports, under a lease for a term of six years expiring 30 September 2026, at a rent of £17,500 per annum. The lease provides for a service charge and is granted within the security provisions of the Landlord and Tenant Act 1954.
The self-contained residential accommodation is sold off on a long lease, which we understand is for a 125-year term from 1 January 2020 at an initial ground rent of £150 per annum, doubling every twenty-five years.
Description
Mid-terrace two-storey building, forming part of a parade of shops. The ground floor retail unit has a traditional timber framed shop front and comprises a retail area, with a single storey extension providing storage and an external WC. The retail area benefits from air conditioning. The 2-bed self-contained flat above, which is sold off on a long lease, is approached from the front, through its own entrance door.
Accommodation
The property comprises the following approximate net internal floor area:
Ground floor retail unit 929 sq. ft (86.31 sq.m)
Location
Cheam is a large village in the London Borough of Sutton, located approximately 1 mile west of Sutton town centre and approximately 11 miles south-west of central London. The property is situated on The Broadway, which is the main road through the centre. Cheam railway station is close by as well as Waitrose store.
Terms
Best Bids
We are inviting parties to submit their best and final offer for the freehold interest, subject to the existing tenancies by no later than 5 pm, Wednesday 4th December 2024 to:
Chris Richards –
1. Details of purchaser / purchasing entity
2. Your offer in pounds sterling
3. Proof of funds and/or funding arrangements
4. All conditions attached to your offer
5. Proposed timescales to put you in a position to exchange unconditionally
6. Details of solicitors acting on the your / the purchaser’s behalf
N.B The vendor is not obliged to accept the highest offer, nor indeed any offer made in respect of the property.
EPC
The ground floor commercial premises has an EPC Rating of D (93)
Viewing
For further information or to view please contact
Chris Richards MRICS Tel: 01737 222835
Email: chris@raynerscommercial.com
Joe Yorke Bsc Hons Tel: 01737 222835
Email: joe@raynerscommercial.com
VAT
We understand that VAT is not applicable to the sale price.