Lot 66
    Commercial Property
    8 Well Hall Road
    Eltham, London, SE9 6SY
    £55,000+
    Guide Price (plus fees)
    Number 1
    A Commercial Unit Within a Petrol Filling Station Fully Let to Malthurst Limited t/a Londis Producing £17,500 Per Annum (Reflecting a Gross Initial Yield of 31%)

    Description

    The property comprises a ground floor commercial unit within a petrol filling station fore court.

    Tenure

    Leasehold. The property is held on a 99 year lease from 2nd March 1937 (thus approximately 9 years unexpired).

    Location

    The property is situated on a mixed use road close to local shops and amenities. The open spaces of Well Hall Pleasaunce are within easy reach. Transport links are provided by Eltham Station rail station.

    Accommodation

    Ground Floor
    Shop Area

    Tenancy

    The property is let to Malthurst Limited t/a Londis at a rent of £17,500 per annum.

    Further Information

    When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. If you do not fully understand this process, please ask the auctioneers or a solicitor.
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    Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

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