98 & 98A Lower Richmond Road, London SW15 1LN

A Freehold building arranged over part basement, ground and two upper floors. The ground floor provides retail accommodation and is trading as Elswood Cycleworks whilst the upper parts provide residential accommodation (sold off).

Located on Lower Richmond Road in Putney, the area is a well-established residential location within South West London. This popular residential area provides a well supported range of shops, restaurants and services.

Transport connections can be found at Putney Overground station for regular connections into central London, Putney Bridge Underground station is also within walking distance. The area is well served by numerous bus routes. Putney Embankment and the River Thames is just 300m away for riverside walks and bike rides.

Tenancies & Leases

Ground floor - Retail

Trading as Elsewood Cycleworks - www.elswoodcycleworks.com/

Let to Cycle Central Putney Ltd (Co. No. 09187875) for a term of 20 years from 2015 at a passing rent of £23,000pa.

Areas

Part Basement

12 sq.m (129 sq.ft)

Ground exc wc's

44 sq.m. (474 sq.ft)

Source: VOA

Upper floors - Residential

Subject to a long lease for a term of 999 years from 1993 (thus having approximately 964 years unexpired) at a peppercorn £75pa ground rent.

Auction Details

The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non-refundable auctioneers fees apply, and are payable immediately upon exchange of contracts:

• 10% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 1.2% inc. VAT of the purchase price (subject to a minimum of £1,500 inc. VAT)

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

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.