146 - 148 Burnt Oak Broadway
Burnt Oak
London
HA8 0AX

Freehold Retail and Residential Investment

Retail let to Coffee Kahawa Limited t/a Costa Coffee until 2024
Includes a shop and 4 self-contained Flats
Prominent corner location on A5
Long term potential residential development at the rear (subject to consents)
Close to Burnt Oak Underground Station (Northern Line)
Neighbouring occupiers include Iceland foods, Ladbrokes, Savers, Poundland and an eclectic mix of local traders

Lot
13
Auction
10/Dec/2020
Rent
£87,800 per Annum Exclusive
Status
Available
Price*
£1,450,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

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Photos
Map

* More information on the term "price" can be found here

Property Information

Location

Miles: 10 miles north of Central London, 7 miles south of Watford, 1.5 miles west of Mill Hill Broadway
Roads: A5, A1, A41, M1, M40, M25
Rail: Burnt Oak Underground Station (Northern Line)
Air: London Heathrow Airport

Situation

Burnt Oak, in the London Borough of Barnet, is 10 miles north of Central London and 1 mile south of Edgware. The property is located in a mixed residential/commercial area, in a prominent location on Burnt Oak Broadway (A5), at its junction with The Highlands, some 400 metres west of Burnt Oak Underground Station (Northern Line). Neighbouring occupiers include Iceland foods, Ladbrokes, Savers, Poundland and an eclectic mix of local traders.

Tenure

Freehold.

Description

The property comprises a substantial double fronted shop comprising ground floor retail accommodation and part first floor ancillary accommodation. The first and second floors comprises of four self contained 2 bedroom flats accessed from the rear of the property. The property benefits from a return frontage on to Barnfield Road.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
146-148	Ground Part First	Retail Ancillary	211.38 sq m 17.61 sq m	(2,275 sq ft) (189 sq ft)	COFFEE KAHAWA LIMITED t/a Costa Coffee (1)	10 years from 13/12/2014	£35,000 (1)	12/12/2024
146A	First	Residential	3 room flat		INDIVIDUALS	2 years from 15/03/2019	£13,200	14/03/2021
146B	First	Residential	3 room flat		INDIVIDUAL	1 year from 21/02/2020	£12,600	20/02/2021
148B	Second	Residential	3 room flat		INDIVIDUAL	1 year from 05/11/2020	£13,200	04/11/2021
148A	Second	Residential	3 room flat		INDIVIDUAL	1 year from 15/11/2020	£13,800	14/11/2021
Total			228.99 sq m	(2,464 sq ft)			£87,800

(1) As to the lease of the ground floor to COFFEE KAHAWA LIMITED t/a Costa Coffee the October 2019 rent review was recently settled at £35,000pax from £30,000 p.a.x.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.