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
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.
