Freehold Retail and Residential Investment with Development Potential (STC)
Entire property let with important reversion in 2021
Two bedroom maisonette located on upper floors
Scope for further residential development at rear extension and into roof (subject to consents)
Located adjacent to Wood Green Shopping City in principal retailing pitch
Popular and busy North London suburb
Lot 9
Auction 24th October 2019
Rent £55,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
6.8 miles north of Charing Cross
Roads
A105, A504, A10, A406 North Circular Road
Rail
Wood Green Underground, Turnpike Lane Underground (Piccadilly Line)
Air
London City Airport
Situation
Wood Green is a busy North London suburb located some 6 miles north of central London. The property is situated in a prominent location on the west side of the busy High Road (A105), the principal retailing pitch, less than 100 metres from The Mall Shopping Centre which houses a 12-screen cinema and over 100 retailers including Boots, H&M, Schuh, Costa and Primark.
Tenure
Freehold.
Location
Miles
6.8 miles north of Charing Cross
Roads
A105, A504, A10, A406 North Circular Road
Rail
Wood Green Underground, Turnpike Lane Underground (Piccadilly Line)
Air
London City Airport
Situation
Wood Green is a busy North London suburb located some 6 miles north of central London. The property is situated in a prominent location on the west side of the busy High Road (A105), the principal retailing pitch, less than 100 metres from The Mall Shopping Centre which houses a 12-screen cinema and over 100 retailers including Boots, H&M, Schuh, Costa and Primark.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with basement ancillary accommodation. The first and second floors comprise a residential maisonette which currently provides three rooms, two bathrooms and a kitchen, with scope for extending this further at the rear extension and into the roof (subject to consents). The residential accommodation is currently self contained and is accessed from the rear.
VAT
VAT is not applicable to this lot.
EPC
D
Description
The property comprises a ground floor retail unit with basement ancillary accommodation. The first and second floors comprise a residential maisonette which currently provides three rooms, two bathrooms and a kitchen, with scope for extending this further at the rear extension and into the roof (subject to consents). The residential accommodation is currently self contained and is accessed from the rear.
VAT
VAT is not applicable to this lot.
EPC
D
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground Basement First Second
Retail Ancillary Residential Residential
96.50 sq m 36.40 sq m 39.02 sq m 25.55 sq m
(1,038 sq ft) (391 sq ft) (420 sq ft) (275 sq ft)
ARK EUROPE LIMITED (1)
15 years from 10/07/2006 on a full repairing and insuring lease
£55,000 (2)
10/07/2016 (09/072021)
Total
197.47 sq m
(2,124 sq ft)
£55,000
(1) We understand the residential flat has been sublet. (2) A rent deposit of £13,750 is held.
