112 - 114, Burnt Oak Broadway Edgware Greater London HA8 0BE

112 - 114, Burnt Oak Broadway
Edgware
Greater London
HA8 0BE

Freehold Retail Investment

  • Entirely let to Ladbrokes Betting & Gaming Limited
  • Prominent corner position on busy Burnt Oak Broadway
  • Benefits from self-contained upper floors
  • Nearby occupiers include Tesco Metro, Peacocks, Savers, Shoe Zone, Greggs and a number of independent retailers
  • Future residential redevelopment potential of upper parts (subject to lease and consents)
  • VAT free investment
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    2
  • Auction
    19th May 2016
  • Rent
    £38,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £870,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of CBRE Receivers
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail Investment

  • Entirely let to Ladbrokes Betting & Gaming Limited
  • Prominent corner position on busy Burnt Oak Broadway
  • Benefits from self-contained upper floors
  • Nearby occupiers include Tesco Metro, Peacocks, Savers, Shoe Zone, Greggs and a number of independent retailers
  • Future residential redevelopment potential of upper parts (subject to lease and consents)
  • VAT free investment
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 2
  • Auction 19th May 2016
  • Rent
  • Status Sold
  • Price £870,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of CBRE Receivers

Property Information

Location
Miles
10 miles north-west of Central London
Roads
A1, A5, A41, M1 (Junction 1), M40, M25
Rail
Burnt Oak Underground Station (Northern Line)
Air
London Heathrow Airport
Situation

The property is located in the popular suburb of Burnt Oak, Edgware, approximately 10 miles from Central London. The property is situated in a prominent corner position at the busy junction of Burnt Oak Broadway and Watling Avenue. Nearby occupiers include Tesco Metro, Peacocks, Savers, Shoe Zone, Greggs and a number of independent retailers. The property benefits from a public car
park to the rear for approximately 50 cars.

Tenure

Freehold.

Location
Miles
10 miles north-west of Central London
Roads
A1, A5, A41, M1 (Junction 1), M40, M25
Rail
Burnt Oak Underground Station (Northern Line)
Air
London Heathrow Airport
Situation

The property is located in the popular suburb of Burnt Oak, Edgware, approximately 10 miles from Central London. The property is situated in a prominent corner position at the busy junction of Burnt Oak Broadway and Watling Avenue. Nearby occupiers include Tesco Metro, Peacocks, Savers, Shoe Zone, Greggs and a number of independent retailers. The property benefits from a public car
park to the rear for approximately 50 cars.

Tenure

Freehold.

Description

The property comprises a ground floor betting shop with self-contained office accommodation on the first and second floors. Floor plans are available within the legal pack. The property benefits from frontages to both Burnt Oak Broadway and Watling Avenue.

Six Week Completion

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor betting shop with self-contained office accommodation on the first and second floors. Floor plans are available within the legal pack. The property benefits from frontages to both Burnt Oak Broadway and Watling Avenue.

Six Week Completion

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reversion
Ground
First
Second
Betting shop
Office
Office
163.30 sq m
89.31 sq m
93.29 sq m
(1,758 sq ft)
(961 sq ft)
(1,004 sq ft)
LADBROKES
BETTING &
GAMING LIMITED
(1)
15 years from 11/04/2007
on a full repairing and
insuring lease (2)
£38,000 10/04/2022
Total  
345.90 sq m
(3,723 sq ft)
    £38,000

1) For the year ending 31st December 2014, Ladbrokes Betting & Gaming Limited reported a turnover of £824,322,000, pre-tax profits of £57,141,000 and a total net worth of £1,096,567,000 (Source: Experian Group 14/04/2016).
(2) The lease is subject to a tenant option to determine on 10th April 2017 on no less than 6 months’ prior written notice. There is also a rent review on 11th April 2017. By way of a Deed of Variation (due to complete imminently), the tenant option to determine and the 2017 rent review will be removed and a five month rent free period will be granted. The seller has agreed to adjust the completion monies so that the property will effectively produce £38,000 p.a.x from completion of the sale.

Property Documents

  • Site Plan
    Updated Date
    30.10.19
    File Size
    318 KB
    View PDF
  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Ian Hartley 0113 283 4457ian.hartley@walkermorris.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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