408 Holloway Road Islington London N7 6QF

  • 408 Holloway Road<br>Islington<br>London<br>N7 6QF

408 Holloway Road
Islington
London
N7 6QF

Freehold Bank Investment

  • Entirely let to Santander UK plc who have occupied since 1971
  • Affluent and popular North London location
  • Located 4 miles north of the City of London
  • Nearby occupiers include Boots, Burger King, Marks & Spencer and Costa Coffee
  • Lot
    12
  • Auction
    9th July 2014
  • Rent
    £77,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,590,000
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Joint LPA Receivers
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Freehold Bank Investment

  • Entirely let to Santander UK plc who have occupied since 1971
  • Affluent and popular North London location
  • Located 4 miles north of the City of London
  • Nearby occupiers include Boots, Burger King, Marks & Spencer and Costa Coffee
  • Lot 12
  • Auction 9th July 2014
  • Rent £77,500 per Annum Exclusive
  • Status Sold
  • Price £1,590,000
  • Sector
    Bank
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Joint LPA Receivers

Property Information

Location
Miles
4 miles north of the City of London
Roads
A1, A503, A501 (Inner Ring Road), A406 (North Circular Road)
Rail
Holloway Road Underground Station (Piccadilly Line)
Air
London City Airport, London Heathrow Airport, London Stansted Airport
Situation

The affluent and highly fashionable North London Borough of Islington lies immediately north of the City of London and is home to attractions such as Saddler’s Wells Theatre, Arsenal’s Emirates Stadium, and Highbury Field.
The property is situated on the eastern side of Holloway Road (A1), adjoining the Nags Head Shopping Centre which houses Morrisons, Hallmark Cards and Selby’s, Islington’s only department store. Other nearby occupiers include Burger King, Boots, Marks & Spencer and Costa Coffee.

Tenure

Freehold.

Location
Miles
4 miles north of the City of London
Roads
A1, A503, A501 (Inner Ring Road), A406 (North Circular Road)
Rail
Holloway Road Underground Station (Piccadilly Line)
Air
London City Airport, London Heathrow Airport, London Stansted Airport
Situation

The affluent and highly fashionable North London Borough of Islington lies immediately north of the City of London and is home to attractions such as Saddler’s Wells Theatre, Arsenal’s Emirates Stadium, and Highbury Field.
The property is situated on the eastern side of Holloway Road (A1), adjoining the Nags Head Shopping Centre which houses Morrisons, Hallmark Cards and Selby’s, Islington’s only department store. Other nearby occupiers include Burger King, Boots, Marks & Spencer and Costa Coffee.

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with office accommodation on the first floor, basement storage accommodation with ancillary/office accommodation on second and third floors.

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

6 Week Completion

VAT

VAT is not applicable to this lot.

Viewings

There will be a block viewing for this property.
Interested parties must register their details with the Auctioneers and provide
identification on site. Please contact Gwen Thomas. Telephone: +44 (0)20 7034 4857.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor banking hall with office accommodation on the first floor, basement storage accommodation with ancillary/office accommodation on second and third floors.

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

6 Week Completion

VAT

VAT is not applicable to this lot.

Viewings

There will be a block viewing for this property.
Interested parties must register their details with the Auctioneers and provide
identification on site. Please contact Gwen Thomas. Telephone: +44 (0)20 7034 4857.

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
Basement
First
Second
Third		 Banking Hall
Storage
Office
Ancillary/Office
Ancillary/Office
98.10 sq m
71.50 sq m
52.10 sq m
55.60 sq m
53.60 sq m
(1,055 sq ft)
(770 sq ft)
(561 sq ft)
(598.48 sq ft)
(576.95 sq ft)
 SANTANDER UK PLC (1) 4 years 7 months from 11/06/2014 on a full repairing and insuring lease (2) (3) £77,500 31/01/2019
Totals  
330.90 sq m
(3,562 sq ft)
     £77,500  

(1) For the year ending 31st December 2013, Santander UK plc reported pre-tax profits of £1,139,000,000 and a total net worth of £9,885,000,000.
(Source: www.riskdisk.com 11/06/2014). The tenant occupied under a previous lease for a term of 42 years from 1st February 1971.
(2)The lease is subject to an option to determine in January 2016.
(3)The tenants are currently carrying out a schedule of dilapidation works. Further information is available from within the legal pack.

Contacts

Seller's Solicitors
Lawrence Graham LLP 4 More Riverside
London
SE1 2AU
Stuart Glover 0207 759 6566stuart.glover@lg-legal.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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