Freehold Retail Investment with Residential Development Potential over Two Vacant Upper Floors
Ground floor shop let to Phones 4U Limited on a 10 year lease until December 2018
Vacant residential upper parts with development potential
Prominent town centre location
Nearby occupiers include Boots The Chemist, W H Smith, Debenhams, Barclays Bank, KFC and Primark
Six Week Completion
Lot 41
Auction 27th March 2014
Rent £55,000 per Annum Exclusive
Status Sold
Price £957,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On instructions from Helix Property Advisors
Property Information
Location
Miles
10 miles west of Central London
Roads
A4, A30, M4, M25
Rail
Hounslow Rail Station, Hounslow Central Underground Station
Air
London Heathrow Airport 5 miles
Situation
The property is situated on the south side of the High Street in Hounslow’s prime retailing area and within moments from the entrance to the Treaty Shopping Centre which is anchored by Debenhams. The immediate area has many well known High Street retailers including Boots The Chemist, WH Smith, Barclays Bank, KFC and Primark.
Tenure
Freehold.
Location
Miles
10 miles west of Central London
Roads
A4, A30, M4, M25
Rail
Hounslow Rail Station, Hounslow Central Underground Station
Air
London Heathrow Airport 5 miles
Situation
The property is situated on the south side of the High Street in Hounslow’s prime retailing area and within moments from the entrance to the Treaty Shopping Centre which is anchored by Debenhams. The immediate area has many well known High Street retailers including Boots The Chemist, WH Smith, Barclays Bank, KFC and Primark.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit and a first and second floor residential maisonette with separate access from the rear.
The sellers have recently granted a new commercial lease over the ground floor only, thereby retaking possession of the residential parts. These have the potential for conversion and extension to create two self-contained flats (subject to consents).
Planning
For planning enquiries please contact London Borough of Hounslow. http://www.hounslow.gov.uk. Tel: +44 (0)20 8583 2000.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit and a first and second floor residential maisonette with separate access from the rear.
The sellers have recently granted a new commercial lease over the ground floor only, thereby retaking possession of the residential parts. These have the potential for conversion and extension to create two self-contained flats (subject to consents).
Planning
For planning enquiries please contact London Borough of Hounslow. http://www.hounslow.gov.uk. Tel: +44 (0)20 8583 2000.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site.
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
Retail
185.81 sq m
(2,000 sq ft)
PHONES 4U LIMITED (1)
10 years from 25/12/2008 on an effective full internal repairing and insuring lease (2)
£55,000 (3)
24/12/2018
First & Second
Residential
106.47 sq m
(1,146 sq ft)
VACANT POSSESSION
Totals
292.28 sq m
(3,146 sq ft)
(1) For the year ending 31st December 2012, Phones 4U Limited reported a turnover of £963,686,000, pre-tax profits of £88,810,000 and a total net worth of £375,377,000. (Source: www.riskdisk.com 20/02/2014) (2)The lease has been determined as to the first and second floors. (3)The lease is subject to a 6 month rent free period from 25th December 2013 until 25th June 2014.
