Tenants include Currency Exchange Corporation Limited and Sandymere Limited
Timpson in occupation for 50 years
Affluent Town centre location
Includes two self-contained residential flats
Neighbouring occupiers include NatWest, Caffè Nero, HSBC, Boots, Tesco Express, O2 and Moss Bros
Lot 15
Auction 21st May 2020
Rent £80,900 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
16 miles north-west of Central London
8 miles south-east of Watford
3 miles north of Wembley
Roads
A40 (Western Avenue), M1, M25, M40
Rail
Harrow-on-the-Hill Mainline Railway Station and Underground (Metropolitan Line)
Air
London Heathrow Airport
London Luton Airport
Situation
Harrow is an affluent and popular North West London suburb. The property is situated in a prominent location on the west side of Station Road, Harrows prime retailing thoroughfare, close to St Anns Shopping Centre. Neighbouring occupiers include NatWest, Caffè Nero, HSBC, Boots, Tesco Express, O2 and Moss Bros.
Tenure
Freehold.
Location
Miles
16 miles north-west of Central London
8 miles south-east of Watford
3 miles north of Wembley
Roads
A40 (Western Avenue), M1, M25, M40
Rail
Harrow-on-the-Hill Mainline Railway Station and Underground (Metropolitan Line)
Air
London Heathrow Airport
London Luton Airport
Situation
Harrow is an affluent and popular North West London suburb. The property is situated in a prominent location on the west side of Station Road, Harrows prime retailing thoroughfare, close to St Anns Shopping Centre. Neighbouring occupiers include NatWest, Caffè Nero, HSBC, Boots, Tesco Express, O2 and Moss Bros.
Tenure
Freehold.
Description
The property comprises 2 retail units with retail accommodation on the ground floor and ancillary accommodation in the basement. There is a two room self-contained residential flat on the first floor and a five room self-contained maisonette on the second and third floors. The flats are accessed separately from the rear of the property via Greenhill Way.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Available from the legal pack at acuitus.co.uk
Description
The property comprises 2 retail units with retail accommodation on the ground floor and ancillary accommodation in the basement. There is a two room self-contained residential flat on the first floor and a five room self-contained maisonette on the second and third floors. The flats are accessed separately from the rear of the property via Greenhill Way.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Available from the legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground Basement
Retail Ancillary
71.34 sq m 44.05 sq m
(768 sq ft) (474 sq ft)
CURRENCY EXCHANGE CORPORATION LIMITED (1)
15 years from 06/10/2014
£35,000
05/10/2019 05/10/2024 (05/10/2029)
Ground
Retail
22.80 sq m
(245 sq ft)
SANDYMERE LIMITED (2)
10 years from 28/10/2016 (3)
£18,000
28/10/2021 (27/10/2026)
First
Flat 313A 2 Room Flat
Not measured
INDIVIDUAL
Assured Shorthold Tenancy for a term of 1 year from 22/03/2020
£11,700
Second and third
Flat 313B 5 Room Maisonette
Not measured
INDIVIDUAL SPECIALISTS LIMITED (4)
Assured Shorthold Tenancy for a term of 1 year from 08/02/2020
£16,200
Total Commercial Area
138.20 sq m
(1,487 sq ft)
£80,900
(1) For the year ending 30th December 2018, Currency Exchange Corporation Limited reported a turnover of £8,217,363, pre-tax profits of £2,418,618 and a total net worth of £7,019,222 (Source: Experian Group 28/02/2020). (2) Sandymere Limited are a subsidiary of Timpson Group Plc. Timpson was established in 1865 and is the UKs leading retail service provider employing over 5,600 colleagues, with 2,000 owned stores and 119 "Snappy Snaps" franchises throughout the UK and Ireland (Timpson.co.uk 22/04/2020). (3) The lease provides for a tenant option to determine on 28/09/2021. Timpson has occupied the property since at least June 1970 (50 years).
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
