Recently Let Freehold Retail Investment with Newly Developed Residential Above
Shop recently let to AFG Housewares UK Limited (a Household Goods Wholesaler)
New 20 year shop lease from November 2020 (No Breaks)
Eight newly developed separately accessed flats on upper floors ready to be let (3x 1 bed and 5x 2 bed)
Located in the heart of Golders Green, within very close proximity to Golders Green Tube and Bus Station
Nearby occupiers include Tesco Express, Boots the Chemist, Holland & Barrett an various restaurants and coffee shops
Immediate Asset Management potential
Affluent and popular North-West London suburb
Lot 9
Auction 11th February 2021
Rent £50,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
6 miles north-west of Central London
Roads
A406 (North Circular)
Rail
Golders Green Tube Station (Northern Line)
Air
London Luton, London Heathrow
Situation
Golders Green is an affluent North West London suburb, 5 miles north-west of London's West End. The location benefits from excellent communications being close to the A406 (North Circular Road) and M1. The property is situated on a prominent corner position on the south side of Golders Green Road, at its junction with Armitage Road. Nearby occupiers include Tesco Express, Boots the Chemist, Holland & Barrett and various restaurants and coffee shops. Golders Green Tube and Bus Station is located a short walk away with various bus routes serving Golders Green Road.
Tenure
Freehold.
Location
Miles
6 miles north-west of Central London
Roads
A406 (North Circular)
Rail
Golders Green Tube Station (Northern Line)
Air
London Luton, London Heathrow
Situation
Golders Green is an affluent North West London suburb, 5 miles north-west of London's West End. The location benefits from excellent communications being close to the A406 (North Circular Road) and M1. The property is situated on a prominent corner position on the south side of Golders Green Road, at its junction with Armitage Road. Nearby occupiers include Tesco Express, Boots the Chemist, Holland & Barrett and various restaurants and coffee shops. Golders Green Tube and Bus Station is located a short walk away with various bus routes serving Golders Green Road.
Tenure
Freehold.
Description
The property comprises a three storey building arranged as a large ground floor shop with 8 newly developed flats over first and second floors, accessed from the front.
VAT
VAT is not applicable to this lot.
Completion Period
Eight Week Completion Available.
EPC
B (shop). See legal pack at www.acuitus.co.uk.
Description
The property comprises a three storey building arranged as a large ground floor shop with 8 newly developed flats over first and second floors, accessed from the front.
VAT
VAT is not applicable to this lot.
Completion Period
Eight Week Completion Available.
EPC
B (shop). See legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground
Retail/Ancillary
289.30 sq m
(3,114 sq ft)
AFG HOUSEWARES UK LIMITED (1)
20 years from 17/11/2020 until 16/11/2040
£50,000 (2)
17/11/2025 and 5 yearly thereafter
First/Second
8 flats (3x 1 bed & 5x 2 bed)
406.91 sq m (total) (3)
(4,380 sq ft) (total) (3)
VACANT
-
-
-
Total
696.21 sq m
(7,494 sq ft)
£50,000
(1) A rent deposit of £25,000 is held by the landlord. (2) Under the terms of the lease, the tenant benefits from a 6 month rent free period from 10/12/2020. The Vendor has agreed to adjust the completion monies so that the property effectively produces £50,000 per annum from completion of the sale until the expiry of the rent free period. (3) Gross Internal Area. The flats range in size from approximately 375 sq ft to 660 sq ft.
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.
