7 Church Street Enfield Greater London EN2 6AF

7 Church Street
Enfield
Greater London
EN2 6AF

Freehold Retail and Residential Investment

Ground floor let to Starbucks Coffee Company (UK) Limited until 2023 (no breaks)
Two residential flats on upper floors let on a long lease
Opposite the major Palace Gardens Shopping Centre
Neighbouring occupiers include Maplin, McDonald’s, Santander, Morrisons, Waitrose, Foxtons and Caffè Nero
Legal Title Report <a href="/media/32026/legal title report v4.pdf" target="_blank" title="Legal Title Report V4">here</a>

Lot
4
Auction
11th December 2014
Rent
£77,500 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On the instructions of a Major Fund

Important Update Interested?

Expand
Photos
Map

Freehold Retail and Residential Investment

Ground floor let to Starbucks Coffee Company (UK) Limited until 2023 (no breaks)
Two residential flats on upper floors let on a long lease
Opposite the major Palace Gardens Shopping Centre
Neighbouring occupiers include Maplin, McDonald’s, Santander, Morrisons, Waitrose, Foxtons and Caffè Nero
Legal Title Report <a href="/media/32026/legal title report v4.pdf" target="_blank" title="Legal Title Report V4">here</a>

Lot 4
Auction 11th December 2014
Rent £77,500 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On the instructions of a Major Fund

Property Information

Location

Miles: 11 miles north of the City of London
Roads: A110, A10, A406 (North Circular Road), M25
Rail: Enfield Town Railway Station
Air: London Stansted, London City, London Heathrow, London Luton

Situation

The property is situated in a prime position on the north side of the busy Church Street at the junction of Burleigh Way some 50 metres from the main entrance to the major Palace Gardens Shopping Centre. Neighbouring occupiers include Maplin, McDonald’s, Santander, Morrisons, Waitrose, Foxtons and Caffè Nero.

Tenure

Freehold.

Location

Miles: 11 miles north of the City of London
Roads: A110, A10, A406 (North Circular Road), M25
Rail: Enfield Town Railway Station
Air: London Stansted, London City, London Heathrow, London Luton

Situation

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with 2 self-contained flats on the first floor and the second floors which have been let on a long lease. The property benefits from being a corner building and having a return frontage to Burleigh Way.

Legal Title Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not 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	Review
Ground	Retail	150.30 sq m	(1,618 sq ft)	STARBUCKS COFFEE COMPANY (UK) LIMITED (1)	10 years from 05/04/2013 on a full repairing and insuring lease	£77,500 (2)	05/04/2018
First & Second	Residential	-	-	-	999 years	Peppercorn
Total Commercial Floor Area		150.30 sq m	(1,618 sq ft)			£77,500 (2)

(1) For the year ending 29th September 2013, Starbucks Coffee Company (UK) Limited reported a turnover of £399,405,183, pre-tax profits of negative -£20,465,123 and a total net worth of £43,838,060 (Source: www.riskdisk.com 11/11/2014). Starbucks operates in over 50 countries and has a total of 17,009 stores (as at 2nd January 2011). (Source: www.starbucks.co.uk)
(2)The tenant is currently benefitting from a personal rent concession of £8,225 p.a.x., so the tenant is currently paying £69,275 p.a.x.