An adjoining pair of mid-terrace buildings in Fulham, SW6, let to bookmaker William Hill is the biggest lot on offer at Savills’ 2 April auction.
The strength of bids for the lot (guided at £2.25m) will be interesting, as it comes to auction after William Hill wrote to a number of its landlords asking for rent cuts of up to 50%.
The move is being made ahead of new regulations coming into force in April that lower the maximum stake allowed on fixed-odds betting terminals from £100 to £2.
William Hill is preparing to close betting shops and overhaul other sites as a result of tough conditions on the high street and the government clampdown on fixed-odds betting terminals. It expects that as many as 900 shops will eventually become loss-making as a result of the changes to fixed-odds machines.
The lot on offer also has two three-bedroom maisonettes let on assured shorthold tenancies and planning consent for conversion into three two-bedroom flats and seven one-bedroom flats. It currently produces an annual income of £68,400.
Savills will offer four lots for more than £1m at its auction at the Marriott Grosvenor Square, W1.
Main image © Rex/Shutterstock
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