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The Common Auction Conditions have been updated as at March 2021.

56, 58 & 60 West Green Road, Tottenham, London, N15 5NR

Lease documents:


Number 56 Wood Green Road is actually let under a lease dated 17 November 2008 for a term of 12 years from 29 September 2006 at an annual rent of £10,500.00, subject to a rent review on the third, sixth, ninth and twelfth anniversaries of the commencement date. The next rent review is due on 17 November 2015. The lease referred to within the auction catalogue was assigned to the current tenant and then expired on 28 September 2006, after
which the 2008 lease referred to above was entered into between the Seller and Jean Didier Igilima (the Tenant).


Number 58 Wood Green Road – the catalogue refers to the current tenants as J Okpabi and B Raymond. Please note the current tenants full names are Jacob Okpabi and Bello Raymond Negbenbor.


Arrears:


58 West Green


Only arrears for this tenant relates to two outstanding insurance premiums. All rents have been invoiced and collected. Managing agents will make effort to recover these in advance of completion.


56 West Green Road


A new lease was entered into with the tenant in 2008. It does not appear to have been passed on to the managing agents and therefore the new rent was not invoiced. This ‘new’ lease came to light when the seller’s solicitor downloaded it from the Land Registry in preparation for disposal at auction. The Seller has therefore invoiced the backdated rent for 6 years (£12,000.00) which show as arrears.


Up to this point the tenant has been reasonably good at paying his rent on time and in full.


60 West Green Road


The level of arrears owed by this tenant has been an issue with this tenant since 2005. Between 2005 and 2007 bailiffs were instructed a number of times but the goods onsite were never of sufficient value and tenant managed to make a contribution towards the arrears for the Landlord to not agree to forfeit.
In previous years the payments made by the tenant were sporadic and were often not sufficient to cover ongoing rent and arrears. The Landlord who isn’t familiar with the London market was reluctant to have an empty shop and so while the arrears were chased, forfeiture was not an option for them.
In the last 12-18 months the tenant has made an effort to make significant payments towards the rent. I have listed below payments received in the last 14 months from the tenant.


02/08/2013 - £500 (BACS)


14/08/2013 - £1500 (BACS)


15/10/2013 - £2500 (BACS)


24/01/2014 - £2500 (BACS)


13/05/2014 - £2400 (BACS)


06/08/2014 - £500 (BACS)


18/09/2014 - £1450 (BACS)


Total - £10350


Details of all arrears are set out in the contract and will be dealt with in accordance with the terms set out in the contract. Namely , Part 3 Special Condition G11 will not apply and all arrears will be discharged by the Buyer upon completion.


Floor Areas:


Please note the following changes to the approximate floor areas to those which were stated in the auction catalogue:


58 West Green Road


Ground, Retail/Ancillary, 38.17 sq m (411 sq ft)


60 West Green Road


Ground, Retail/Ancillary, 53.33 sq m (573 sq ft)


Total Approximate Area (for 56/58/60 West Green Road)


Ground, Retail/Ancillary, 124.57 sq m (1341sq ft)