Let to Ask Restaurants Ltd (guaranteed by Ask Central Limited) on a 25 year lease until June 2029
Located on the A598 within the established North London suburb
Future development potential on upper floors (subject to consent)
Within close proximity of Finchley Central Underground Station (Northern Line)
Lot 11
Auction 9th July 2014
Rent £115,250 per Annum Exclusive
Status Sold
Price £1,975,000
Sector Leisure
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
6 miles north of the West End, 7 miles north-west of The City of London
Roads
A406, A598, M25, M1
Rail
Finchley Central Underground (Northern Line)
Air
Heathrow International Airport
Situation
Finchley is an affluent North London suburb some 6 miles north of central London providing easy links to the M1 and M25. The property is situated in a parade of shops on the eastern side of the busy Regents Park Road (A598) close to Finchley Central Station.
Tenure
Freehold.
Location
Miles
6 miles north of the West End, 7 miles north-west of The City of London
Roads
A406, A598, M25, M1
Rail
Finchley Central Underground (Northern Line)
Air
Heathrow International Airport
Situation
Finchley is an affluent North London suburb some 6 miles north of central London providing easy links to the M1 and M25. The property is situated in a parade of shops on the eastern side of the busy Regents Park Road (A598) close to Finchley Central Station.
Tenure
Freehold.
Description
The property comprises a restaurant with kitchen/office accommodation on the ground floor and further self-contained office accommodation on the first floor accessed from Regents Park Road. The property benefits from rear access via a service road which also gives access to the rear parking and loading areas of the other occupiers along the parade.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a restaurant with kitchen/office accommodation on the ground floor and further self-contained office accommodation on the first floor accessed from Regents Park Road. The property benefits from rear access via a service road which also gives access to the rear parking and loading areas of the other occupiers along the parade.
VAT
VAT is applicable to this lot.
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
Reviews
Ground First
Restaurant Offices
199.15 sq m 183.95 sq m
(2,144 sq ft) (1,980 sq ft)
ASK RESTAURANTS LTD (1) guaranteed by Ask Central Ltd (2) (3)
25 years from 24/06/2004 until 23/06/2029 on a full repairing and insuring lease
£115,250
24/06/2019 and 5 yearly thereafter
Totals
383.10 sq m
(4,124 sq ft)
£115,250
(1) For the year ending 30/06/2013, Ask Restaurants Limited reported a turnover of £193,000,000, pre-tax profits of £3,890,000 and a total net worth of £141,000,000. (Source: www.riskdisk.com 12/07/2014) (2) The lease is subject to a guarantor that is Ask Central Limited. For the year ending 30/06/2013, the company reported a pre-tax profit of £20,570,000 and a net worth of £560,270,000. (3) The first floor office accommodation has been sublet.
