Freehold Retail/Residential Investment
Freehold Retail/Residential Investment
The property is situated within a busy retail parade on the eastern side of Blackbird Hill (A4088) some 480 metres from the A406 (North Circular) and 1.8 miles from Junction 1 of the M1. Nearby occupiers include Lidl, BP Petrol Station and numerous local retailers.
Freehold.
The property is situated within a busy retail parade on the eastern side of Blackbird Hill (A4088) some 480 metres from the A406 (North Circular) and 1.8 miles from Junction 1 of the M1. Nearby occupiers include Lidl, BP Petrol Station and numerous local retailers.
Freehold.
The property comprises a ground floor retail unit with a self-contained residential flat on first and second floors.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a ground floor retail unit with a self-contained residential flat on first and second floors.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground |
Retail |
71.23 sq m |
(767 sq ft) |
CORAL RACING LIMITED (t/a Coral) (1) (2) |
16 years from 03/02/2011 until 02/02/2027 on a full repairing and insuring lease |
£23,250 | 29/09/2016 and 29/09/2021 (3) |
| First Second |
Residential Residential |
Not measured Not measured |
|||||
| Totals | 71.23 sq m |
(767 sq ft) |
£23,250 (3) | ||||
(1) Coral Racing Limited, the third largest bookmakers in the UK, is the principal trading company behind the Gala Coral Group. The Group operates almost 1,634 licensed betting offices, 144 bingo clubs, 27 casinos, 2 greyhound stadia, a UK telephone betting business and an online gambling business employing over 19,000 people across its trading divisions. (Source: www.galacoral.co.uk 14/04/2011)
(2) Please note that the tenant has sublet the first and second floor flat.
(3) Under the terms of the lease, the rent will be reviewed to the higher of open market rental value or 2.5% per annum compound. Therefore the minimum fixed rental increases will be £26,632 p.a.x. in 2016 and £30,132 p.a.x. in 2021.
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