144 - 146 High Street
Barnet
Greater London
EN5 5XP

Freehold Convenience Store and Residential Investment

  • Ground floor let to Sainsbury's Supermarkets Limited on a new 5 year lease (2)
  • Three self-contained flats on upper floors let on ASTs
  • Prominent High Street location opposite The Spires Shopping Centre
  • Nearby occupiers include Boots, Starbucks, Holland & Barrett and Thomas Cook
  • Development potential at the rear (subject to consents)
  • Lot
    6
  • Auction
    19/Oct/2017
  • Rent
    £135,730 per Annum Exclusive
  • Status
    Sold
  • Price*
    £2,640,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • 144 - 146 High Street<br>Barnet<br>Greater London<br>EN5 5XP
  • Expand
  • Photos
  • Map

Property Information

Location
Miles
11.4 miles north of Central London
Roads
A108, A411, M25 (Junction 23 & 24), A1(M) (Junction 1)
Rail
High Barnet Station (Northern Line)
Air
City Airport, Heathrow Airport, Luton Airport, Stansted Airport
Situation

Barnet is a popular North London suburb and the commercial hub for the Borough of Barnet. The High Street provides access to the M25 (Junction 23) and also benefits from close proximity to High Barnet Underground (Northern Line). The property occupies a prime position on High Street, opposite The Spires Shopping Centre which houses occupiers including Costa Coffee, WH Smith, Dorothy Perkins and Waterstones. Other nearby occupiers include Boots, Starbucks and Holland & Barrett.

Tenure

Freehold.

Description

The property comprises a ground floor convenience store which benefits from loading to the rear. The first and second floors comprise 3 x one bedroom flats which can be accessed from the High Street. The property benefits from a large yard to the rear with car parking for approximately 4 cars and an access way off High Street.

VAT

VAT is applicable to this lot.

Buyer's Legal 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 advisable. For more information, please click here.

Tenancy & Accomodation

FloorFloorUseFloor Areas (Approx)TenantTermRent p.a.x
144-146GroundConvenience
Store
542 sq m
(5,841 sq ft)
SAINSBURY’S
SUPERMARKETS
LIMITED (1) t/a
Sainsbury’s Local
5 years from 29/09/2017 until
28/09/2022 on a full repairing
and insuring lease (2)
£92,500
144A - Flat 1FirstOne Bedroom
Flat
40 sq m
(430 sq ft)
INDIVIDUAL1 year & 1 month AST from
03/08/2017 until 02/09/2018 (3)
£12,480 (4)
144A - Flat 2First &
Second
One Bedroom
Maisonette
54 sq m
(581 sq ft)
INDIVIDUAL1 year AST from 16/06/2017 until
15/06/2018
£12,552 (4)
144A - Flat 3FirstOne Bedroom
Flat
50.6 sq m
(544 sq ft)
INDIVIDUAL1 year AST from 27/06/2017 until
26/06/2018
£13,260 (4)
Right of Way--
-
-
BOOTS
PROPERTIES
PLC
License for approximately 15
years from 30/08/2001 until
28/09/2026 (5)
£4,938
Total 
686.6 sq m
(7,396 sq ft)
  £135,730

(1) For the year ending 12th March 2016, Sainsbury's Supermarkets Ltd reported a turnover of £23,168,000,000, pre-tax profits of £406,000,000 and a total net worth of £4,458,000,000 (Source: Experian Group 20/04/2017).
(2) Sainsburys Supermarkets Limited are currently holding over under their previous lease. Heads of terms have been agreed for a new 5 year lease, inside the Landlord and Tenant Act 1954, at a passing rent of £92,500 p.a.x and it is envisaged that this will be completed prior to the auction. Please refer to auctioneers for an update.
(3) The Assured Shorthold Tenancy provides a mutual option to determine after the first six months of the term, subject to a notice period.
(4) The rent has been annualised.
(5) The lease provides upward only rent reviews linked to the Retail Price Index.

Property Documents

  • Catalogue Page
    Updated Date
    26.09.17
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    26.09.17
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
Seller's Solicitors
Seddons Solicitors 5 Portman Square
London
W1H 6HT
Thomas White 0207 725 8045thomas.white@seddons.co.uk

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
Availability of finance is of utmost importance to many of our clients
How can Acuitus Finance help you?Finance