Sovereign House 11-19 Ballards Lane & 6 Albert Place Finchley London N3 1QB

Sovereign House
11-19 Ballards Lane & 6 Albert Place
Finchley
London
N3 1QB

Freehold Retail and Office Investment

  • PLEASE NOTE: PRE-REGISTERED BIDDING IS REQUIRED FOR THIS LOT. DOWNLOAD FORM & ID REQUIREMENTS HERE.
  • Let to 5 Retail Tenants (including Sharps Bedrooms and North London Hospice) and 8 office tenants
  • Affluent North London suburb
  • Potential to convert upper floors to residential subject to leases and consents
  • Located within 250 metres of Finchley Central Underground Station
  • Approximately 1,576.49 sq m (16,969 sq ft)
  • Lot
    15
  • Auction
    9th July 2014
  • Rent
    £382,931 per Annum Exclusive
  • Status
    Sold
  • Price
    £5,785,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Nationwide Building Society
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail and Office Investment

  • PLEASE NOTE: PRE-REGISTERED BIDDING IS REQUIRED FOR THIS LOT. DOWNLOAD FORM & ID REQUIREMENTS HERE.
  • Let to 5 Retail Tenants (including Sharps Bedrooms and North London Hospice) and 8 office tenants
  • Affluent North London suburb
  • Potential to convert upper floors to residential subject to leases and consents
  • Located within 250 metres of Finchley Central Underground Station
  • Approximately 1,576.49 sq m (16,969 sq ft)
  • Lot 15
  • Auction 9th July 2014
  • Rent
  • Status Sold
  • Price £5,785,000
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Nationwide Building Society

Property Information

Location
Miles
2 miles north of Temple Fortune
6 miles north of London’s West End
Roads
A406, A598, M25, M1
Rail
Finchley Central Underground (Northern line)
Air
London Heathrow Airport
Situation

Finchley is an affluent North London suburb, some 6 miles north of central London providing easy communication links to the M1 and M25. The property is prominently situated on the east side of the busy Ballards Lane at its junction with Albert Place. Neighbouring occupiers include Tesco, HSBC, Greggs, William Hill and Barclays. Finchley Central Underground Station is some 250 metres away.

Tenure

Freehold.

Location
Miles
2 miles north of Temple Fortune
6 miles north of London’s West End
Roads
A406, A598, M25, M1
Rail
Finchley Central Underground (Northern line)
Air
London Heathrow Airport
Situation

Finchley is an affluent North London suburb, some 6 miles north of central London providing easy communication links to the M1 and M25. The property is prominently situated on the east side of the busy Ballards Lane at its junction with Albert Place. Neighbouring occupiers include Tesco, HSBC, Greggs, William Hill and Barclays. Finchley Central Underground Station is some 250 metres away.

Tenure

Freehold.

Description

The property comprises a substantial self-contained retail and office building with frontages to both Ballards Lane and Albert Place. The ground floor consists of five retail units with self-contained office accommodation on the first, second and third floors. The property benefits from a passenger lift, undercroft and rear car parking.

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 substantial self-contained retail and office building with frontages to both Ballards Lane and Albert Place. The ground floor consists of five retail units with self-contained office accommodation on the first, second and third floors. The property benefits from a passenger lift, undercroft and rear car parking.

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Address Tenant Term & Commencement Lease End Date Passing Rent pa Floor Area Parking
11 Ballards Lane MOROCCAN & LITHUANIAN
HOUSE LTD (t/a Shisha)
25 years from 11.07.2009 with a rent review in 07.2014 and 5 yearly thereafter 11.07.2034 £25,000 75.39 sq m (811 sq ft) 1
13 Ballards Lane AMPLIFON LTD (t/a Amplifon) 15 years from 16.08.2006 with a rent review in 08.2016 15.08.2021 £27,000 78.86 sq m (849 sq ft) 1
15 Ballards Lane NORTH LONDON HOSPICE
(t/a North London Hospice)
10 years from 11.10.2004 10.10.2014 £26,000 78.76 sq m (848 sq ft) 1
17 Ballards Lane LIBERTY FLIGHTS RETAIL
(NORTH WEST) LTD (t/a Liberty
Flights Electronic Cigarettes)
2 years from 11.04.2014 10.04.2016 £23,500 (1) 80.89 sq m (871 sq ft) 1
19 Ballards Lane SHARPS BEDROOMS LTD
(t/a Sharps)
15 years from 05.04.2007 with a rent review and tenant break option in 04.2017 04.04.2022 £58,000 135.65 sq m (1,460 sq ft) 2
Part First Floor DAVID CONWAY, JONATHAN
INGRAM, JOHN CHART
(Practicing as BACI LLP Solicitors)
5 years from 26.03.2014 with a tenant break option in 12.2016 subject to 5 months’ notice 25.03.2019 £52,500 298.60 sq m (3,214 sq ft) 5
Part First Floor ACCIDENT SUPPORT LTD 10 years from 22.12.2006 21.12.2016 £31,500 152.84 sq m (1,645 sq ft) 3
Part Second Floor BIZSPACE LTD 10 years from 06.07.2007 05.07.2017 £38,054 193.02 sq m (2,078 sq ft) 6
Part Second Floor FUTURE MEDICINE LTD 16 years from 24.06.2006 with a rent review in 06.2017 and a tenant break option in 06.2017 23.06.2022 £47,607 226.99 sq m (2,443 sq ft) 5
Part Third Floor EUSTON M LTD Term of years from 13.02.2014 29.09.2016 £11,900 58.53 sq m (630 sq ft) 4
Part Third Floor PROGRAMS4MEDIA LTD 5 years from 11.02.2014 with a mutual option to break in 02.2017 and rolling thereafter, subject to 6 months’ notice 10.02.2019 £10,120 50.17 sq m (540 sq ft) 1
Part Third Floor COLIN D HARRIS LTD 5 years from 13.02.2014 with a tenant option to break, on 11.02.2017 12.02.2019 £12,250 50.17 sq m (540 sq ft) 1
Part Third Floor RADHA INVESTMENTS LTD From 13.02.2014 with a rent review in 05.2017 and a mutual break option in 05.2017 21.05.2022 £12,000 46.45 sq m (500 sq ft) 1
Part Third Floor VACANT - - - 50.17 sq m (540 sq ft)  
Advertising Hoarding J.C.DECAUX UK LIMITED 15 years from 06.03.2008 with a rent review in
09.2013 (outstanding)
05.03.2023 £6,000 - (-) 0
VP Basement Parking DX NETWORK SERVICES 1 year from 14.12.12 13.12.2013 £1,500 - (-) 0
Totals       £382,931 1,576.49 sq m (16,969 sq ft) 32

(1) The seller is holding a £7,050 gross rental deposit.

Property Documents

  • Site Plan
    Updated Date
    17.06.14
    File Size
    83 KB
    View PDF
  • Catalogue Page
    Updated Date
    17.06.14
    File Size
    1,010 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Burgess Salmon One Glass Wharf
Bristol
BS2 0ZX
Gavin Danks 0117 902 2770gavin.danks@burgess-salmon.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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