Retail unit let to Papa John's (GB) Limited until 2034 (no breaks)
5 yearly Rent Reviews linked to Consumer Price Index (CPI) subject to a minimum of 1% and maximum of 3% per annum compounded
Includes two bedroom flat let on an AST
Located in a popular West London suburb
Nearby occupiers include Halifax, Lloyds Bank, NatWest, WH Smith, Edinburgh Woollen Mill, KFC and Pizza Express
Lot 8
Auction 24th October 2019
Rent £38,800 per Annum Exclusive
Status Sold
Price £701,000
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
15 miles north-west of Central London
10 miles north-east of Slough
16 miles south-east of High Wycombe
Roads
A4180, B466, A40
Rail
Ruislip Railway Station
Air
Heathrow Airport
Situation
The property is prominently situated in the popular West London suburb of Ruislip on the west side of High Street (A4180), close to the junction with Ickenham Road (B466). Nearby occupiers include Halifax, Lloyds Bank, NatWest, WH Smith, Edinburgh Woollen Mill, KFC and Pizza Express.
Tenure
Freehold.
Location
Miles
15 miles north-west of Central London
10 miles north-east of Slough
16 miles south-east of High Wycombe
Roads
A4180, B466, A40
Rail
Ruislip Railway Station
Air
Heathrow Airport
Situation
The property is prominently situated in the popular West London suburb of Ruislip on the west side of High Street (A4180), close to the junction with Ickenham Road (B466). Nearby occupiers include Halifax, Lloyds Bank, NatWest, WH Smith, Edinburgh Woollen Mill, KFC and Pizza Express.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit and a self-contained first floor two bedroom flat, which is accessed from the rear. The property benefits from car parking at the rear of the property.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band E. See legal pack at acuitus.co.uk
Description
The property comprises a ground floor retail unit and a self-contained first floor two bedroom flat, which is accessed from the rear. The property benefits from car parking at the rear of the property.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band E. See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground
Retail
97.80 sq m
(1,053 sq ft)
PAPA JOHN’S (GB) LIMITED (1)
15 years from 27/08/2019 on a full repairing and insuring lease
£25,000 (2)
5 yearly. CPI linked (3) (26/08/2034)
First
Residential
2 Bedroom Flat
INDIVIDUAL
Let on an AST from 08/05/2019
£13,800
Total Commercial Area
97.80 sq m
(1,053 sq ft)
£38,800
(1) Papa John's was founded in America more than 30 years ago and is now found in 5,000 locations in 45 countries around the world. For the year ending 31st December 2017, Papa John's (GB) Limited reported a turnover of £67,256,000, pre-tax profits of £6,423,000 and a total net worth of £25,821,000 (Source: Experian Group 24/09/2019). (2) As to the retail unit, the lease to Papa John's (GB) Limited provides for a 6 month rent free period from the start of the lease until 26/02/2020. The seller will pay the buyer the monies equivalent to £25,000 per annum exclusive from completion of the sale until 26/02/2020. Therefore the property will produce £38,800 per annum exclusive from completion of the sale. (3) The lease provides for the rent to be reviewed every 5 years in line with the Consumer Price Index (CPI), subject to a minimum of 1% and a maximum of 3% per annum compounded.
