1-18 Onslow Parade, Hampden Square Southgate London N14 5JN

1-18 Onslow Parade, Hampden Square
Southgate
London
N14 5JN

Substantial Freehold Retail Parade Investment

  • Comprises an unbroken parade of 18 retail units
  • Busy neighbourhood retailing hub
  • Affluent North London suburb
  • Active management potential
  • Includes car parking to the rear
  • Nearby occupiers include Tesco Express, Domino’s, Londis and Pizza Hut
  • Legal Title Report <a href="/media/32026/legal title report v4.pdf" target="_blank" title="Legal Title Report V4">here</a>
  • Lot
    16
  • Auction
    11th December 2014
  • Rent
    £204,325 per Annum Exclusive
  • Status
    Sold
  • Price
    £2,760,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
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  • Photos
  • Map

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

Substantial Freehold Retail Parade Investment

  • Comprises an unbroken parade of 18 retail units
  • Busy neighbourhood retailing hub
  • Affluent North London suburb
  • Active management potential
  • Includes car parking to the rear
  • Nearby occupiers include Tesco Express, Domino’s, Londis and Pizza Hut
  • Legal Title Report <a href="/media/32026/legal title report v4.pdf" target="_blank" title="Legal Title Report V4">here</a>
  • Lot 16
  • Auction 11th December 2014
  • Rent
  • Status Sold
  • Price £2,760,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP

Property Information

Location
Miles
9 miles north of the City of London
Roads
North Circular Road (A406), A111, A109, A1000
Rail
Southgate Underground Station (Piccadilly Line)
Air
London Heathrow, London City, London Luton, London Stansted
Situation

The property is situated in the densely populated affluent North London suburb of Southgate in a prominent corner position on the busy Hampden Square, a neighbourhood retailing centre consisting of three separate retail parades. Nearby occupiers include Tesco Express, Domino’s, Londis, Pizza Hut and a number of independent retailers including restaurants, estate agents and retail shops.

Tenure

Freehold.

Location
Miles
9 miles north of the City of London
Roads
North Circular Road (A406), A111, A109, A1000
Rail
Southgate Underground Station (Piccadilly Line)
Air
London Heathrow, London City, London Luton, London Stansted
Situation

The property is situated in the densely populated affluent North London suburb of Southgate in a prominent corner position on the busy Hampden Square, a neighbourhood retailing centre consisting of three separate retail parades. Nearby occupiers include Tesco Express, Domino’s, Londis, Pizza Hut and a number of independent retailers including restaurants, estate agents and retail shops.

Tenure

Freehold.

Description

The property, an attractive unbroken retail parade, comprises 18 ground floor retail units with 18 self-contained residential maisonettes on the first and second floors, accessed from the rear. The property benefits from frontages to Hampden Square, Osidge Lane and Brookside South. The property has a total site area of approximately 0.22 hectares (0.54 acres) providing rear car parking for approximately 10 cars and a garden.

Six Week Completion

Legal Title Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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, an attractive unbroken retail parade, comprises 18 ground floor retail units with 18 self-contained residential maisonettes on the first and second floors, accessed from the rear. The property benefits from frontages to Hampden Square, Osidge Lane and Brookside South. The property has a total site area of approximately 0.22 hectares (0.54 acres) providing rear car parking for approximately 10 cars and a garden.

Six Week Completion

Legal Title Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
1 & 2 Ground Retail
149.02 sq m
(1,604 sq ft)
MR A PERLMUTTER t/a A Perlmutter & Son 5 years from 03/02/2010 £25,000 (1) (02/02/2015)
3 Ground Retail
41.43 sq m
(446 sq ft)
HAMPDEN CLINIC LTD
t/a Hampden Dental Clinic
15 years from 27/04/2007 £7,500 27/04/2012
27/04/2017
4 Ground Retail
53.88 sq m
(580 sq ft)
MR L KYRIAKIDES t/a Tout Age 5 years from 09/02/2010 £11,000 (2) (08/02/2015)
5 Ground Retail
50.70 sq m
(546 sq ft)
SANGER FLOORING LTD t/a Sanger Flooring 10 years from 01/02/2007 £10,750 01/02/2012 (31/01/2017)
6 Ground Retail
49.40 sq m
(532 sq ft)
NGUYEN (NAIL BAR) t/a Top Nails 15 years from 16/09/2013 £10,750 16/09/2018 and 5 yearly
7 Ground Retail
50.27 sq m
(541 sq ft)
OWEN (KIDS SHOES) t/a Shoe Zoo 15 years from 26/04/2013 £10,750 (7) 26/04/2018 and 5 yearly
8 Ground Retail
50.27 sq m
(541 sq ft)
MRS E SPYRIS t/a Treasured Moments 15 years from 15/05/2008 £11,250 (3) 15/05/2013 and 5 yearly
9 Ground Retail
50.91 sq m
(548 sq ft)
MR C KYRIACOU t/a Mackenzie’s 10 years from 03/05/2005 £10,500 (02/05/2015)
10 Ground Retail
50.49 sq m
(543 sq ft)
MRS BC t/a Southgate Physio 10 years from 18/06/2007 £10,750 18/06/2012, (17/06/2017)
11 Ground Retail
56.50 sq m
(608 sq ft)
VAPE HQ LIMITED 5 years from 16/12/2013 £10,750 (15/12/2018)
12 Ground Retail
46.40 sq m
(499 sq ft)
INDIVIDUALS (4) 5 year term agreed (4) £9,600 (4)  
13 Ground Retail
51.30 sq m
(552 sq ft)
MR M LA CORTE t/a Paint the Town 15 years from 22/08/2007 £13,500 22/08/2012, 22/08/2017
14 & 15 Ground Retail
131.51 sq m
(1,435 sq ft)
MS C MICHAEL t/a Fakin It! Holding over £24,750  
16 Ground Retail
78.97 sq m
(850 sq ft)
WILLIAM HILL ORGANIZATION LIMITED (5) 15 years from 23/03/2007 £14,000 23/03/2012, 23/03/2017
17 Ground Retail
59.97 sq m
(624 sq ft)
MRS E VASSILOU t/a Elysium Hair Studio 12 years from 30/05/2004 £12,750 (29/05/2016)
18 Ground Retail
38.15 sq m
(411 sq ft)
HAPPY PET LTD t/a Veterinary Surgery 15 years from 25/12/2003 £8,750 25/12/2013 (24/12/2018)
1A-18A First &
Second
18 Residential
Flats
Not measured
INDIVIDUALS (6) Various long leases, 6 with
66 years unexpired and 3 with
89 years unexpired
£1,975  
Total Commercial Area  
1,009.17 sq m
(10,860 sq ft)
    £204,325  

(1) The tenant is currently benefitting from a personal rent concession of £1,000 p.a.x.
(2) The tenant is currently benefitting from a personal rent concession of £1,000 p.a.x.
(3) The tenant is currently benefitting from a personal rent concession of £500 p.a.x.
(4) Heads of terms have been agreed for a term of 5 years at a current rent reserved of £9,600 p.a.x. A copy of the heads of terms are available in the legal pack. The lease provides for a tenant option to determine on the 2nd anniversary of the term.
(5) For the year ending 31st December 2013, William Hill Organization Limited reported a turnover of £15,339,482,000, pre-tax profits of £212,269,000 and a negative net worth of –£731,094,000. (Source: riskdisk.com 13/11/2014)
(6) The seller has served notice on the residential lessees under Section 5B of the Landlord and Tenant Act 1987.
(7) As to Unit 7, the current rent reserved is £9,750 p.a.x. The lease provides for a fixed increase in rent to £10,750 on 24th April 2015. The seller will pay the buyer the difference between £9,750 p.a.x. and £10,750 p.a.x. from completion of the sale until 24th April 2015.

Property Documents

  • Site Plan
    Updated Date
    18.11.14
    File Size
    72 KB
    View PDF
  • Catalogue Page
    Updated Date
    18.11.14
    File Size
    2 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

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Associate Auctioneers
Callaway & Co 117 Cricklewood Broadway
London
NW2 3JN
John Bullock 0208 452 6501jbullock@callawayandco.co.uk
Seller's Solicitors
Russell-Cooke Solicitors 8 Bedford Row
London
WC1R 4BX
David Stockley 020 7440 4810david.stockley@russell-cooke.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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