Entirely let to Coral Racing Limited until 2027 (No breaks)
Rent reviewed to greater of Open Market Rental Value or increased by 2.5% per annum compounded
Includes residential maisonette
Prominently located in a busy retailing parade
Producing £26,632 per annum exclusive rising to a minimum of £30,132 p.a.x. in 2021
Lot 3
Auction 13th July 2017
Rent £26,632 per Annum Exclusive
Status Withdrawn Prior
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
8.1 miles north-west of Central London, 2.6 miles north-east of Brent, 1.5 miles north-east of Wembley Stadium
Roads
A4088, A406 (North Circular), M1 (Junction 1)
Rail
Wembley Park Tube Station (Jubilee and Metropolitan lines), Wembley Stadium Railway Station
Air
London Heathrow Airport
Situation
The property is situated within a busy retail parade on the eastern side of Blackbird Hill (A4088), some 480 metres from the A406 (North Circular Road) and 1.8 miles from Junction 1 of the M1. Nearby occupiers include Lidl, BP petrol station and an eclectic mix of local retailers.
Tenure
Freehold.
Location
Miles
8.1 miles north-west of Central London, 2.6 miles north-east of Brent, 1.5 miles north-east of Wembley Stadium
Roads
A4088, A406 (North Circular), M1 (Junction 1)
Rail
Wembley Park Tube Station (Jubilee and Metropolitan lines), Wembley Stadium Railway Station
Air
London Heathrow Airport
Situation
The property is situated within a busy retail parade on the eastern side of Blackbird Hill (A4088), some 480 metres from the A406 (North Circular Road) and 1.8 miles from Junction 1 of the M1. Nearby occupiers include Lidl, BP petrol station and an eclectic mix of local retailers.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with a self-contained residential maisonette on the first and second floors. The property benefits from rear access and a yard which the tenant uses as a car park.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with a self-contained residential maisonette on the first and second floors. The property benefits from rear access and a yard which the tenant uses as a car park.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
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
Review
Ground First & Second
Retail Residential
71.23 sq m Not Measured
(767 sq ft)
CORAL RACING LIMITED t/a Coral (1) (2)
16 years from 03/02/2011 until 02/02/2027 on a full repairing and insuring lease
£26,632
29/09/2021 (3)
Total Commercial Area
71.23 sq m
(767 sq ft)
£26,632
(1) For the year ending 26th September 2015, Coral Racing Limited reported a turnover of £667,786,000, pre-tax profits of £81,106,000 and a total net worth of £264,149,000 (Source: www.riskdisk.com 15/06/2017). (2) The tenant has sublet the maisonette. (3) Under the terms of the lease, the rent will be reviewed to the higher of open market rental value or 2.5% per annum compounded. Therefore, the property will produce a minimum of £30,132 per annum exclusive from 29th September 2021.
