Highly affluent and highly fashionable North London district
First time on the market for 73 years
Let to Individual Doctors with rent reimbursed to the tenant by the NHS (1)
Includes three self-contained flats
Lot 19
Auction 14th February 2018
Rent £85,661 per Annum Exclusive
Status Sold Prior
Price
Sector Medical/Healthcare
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
0.5 miles north of Regent's Park, 2 miles north of Mayfair, 3.5 miles north-west of the City of London
Roads
B509, A41, A502, M1
Rail
Chalk Farm Underground Station, Kentish Town West Overground
Air
Heathrow Airport, London City Airport
Situation
Primrose Hill is a highly affluent and highly fashionable North London district some 2 miles north of Mayfair. The property is prominently situated on the west side of Regent’s Park Road on the main commercial pitch. Nearby occupiers include Space NK, Lemonia, Savills and a variety of luxury boutique shops, cafés and restaurants.
Tenure
Freehold.
Location
Miles
0.5 miles north of Regent's Park, 2 miles north of Mayfair, 3.5 miles north-west of the City of London
Roads
B509, A41, A502, M1
Rail
Chalk Farm Underground Station, Kentish Town West Overground
Air
Heathrow Airport, London City Airport
Situation
Primrose Hill is a highly affluent and highly fashionable North London district some 2 miles north of Mayfair. The property is prominently situated on the west side of Regent’s Park Road on the main commercial pitch. Nearby occupiers include Space NK, Lemonia, Savills and a variety of luxury boutique shops, cafés and restaurants.
Tenure
Freehold.
Description
The property, an attractive mid terrace building, comprises ground and first floor surgery accommodation with three self-contained residential flats on the second, third and fourth floors. The flats are accessed via a separate entrance on Regent’s Park Road. The property also has a basement, which is accessed via a hatch in the residential common parts (3). The surgery also occupies the adjoining property, to which there is internal access between the two properties.
VAT
VAT is not applicable to this lot.
Note
The Buyer will pay 3% of the purchase price to the Seller. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, an attractive mid terrace building, comprises ground and first floor surgery accommodation with three self-contained residential flats on the second, third and fourth floors. The flats are accessed via a separate entrance on Regent’s Park Road. The property also has a basement, which is accessed via a hatch in the residential common parts (3). The surgery also occupies the adjoining property, to which there is internal access between the two properties.
VAT
VAT is not applicable to this lot.
Note
The Buyer will pay 3% of the purchase price to the Seller. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx) (4)
Tenant
Term
Rent p.a.x
Ground First
Surgery Surgery
61.00 sq m 22.00 sq m
(657 sq ft) (237 sq ft)
INDIVIDUAL DOCTORS t/a Primrose Hill Surgery (1)
15 years from 26/02/2001 (2)
£55,200
Second
1 Bedroom Flat
52.73 sq m
(567 sq ft)
INDIVIDUALS
Let on an Assured Shorthold Tenancy agreement for a term of 12 months until 30/12/2018
£12,732
Third
1 Bedroom Flat
52.73 sq m
(567 sq ft)
INDIVIDUALS
Let on an Assured Shorthold Tenancy agreement for a term of 12 months until 13/09/2018
£17,729
Fourth
Studio Flat
34.51 sq m
(371 sq ft)
VACANT POSSESSION
Totals
222.97 sq m
(2,399 sq ft)
£85,661
(1) We understand that the tenants as Registered General Practitioners qualify under The National Health Services Act 1977. The National Health Service (General Medical Services - Premises Costs) (England) Directions 2004 provides for the Primary Care Trust to reimburse for leasehold premises rental costs. A copy of the directive is available in the legal pack. (2) Tenant currently holding over. The lease is inside the security of tenure provisions of the Landlord and Tenant Act 1954. (3) The Auctioneers have not inspected the basement. (4) The residential floor areas stated above are Gross Internal Areas and include common parts.
