Virtual Freehold Retail and Residential Investment
Ground floor let to Done Brothers (Cash Betting) Limited, t/a Betfred, until 2022
Self-contained three bedroom residential maisonette on upper floors
Prominent position on the busy Uxbridge Road (A4020) some 500 metres from Lombardy Retail Park
Nearby occupiers include Abbey Bank, Coral Betting Shop, KFC and Nationwide
Six Week Completion Period Available
Lot 1
Auction 8th December 2011
Rent £52,700 per Annum Exclusive
Status Sold
Price £625,000
Sector High Street Retail
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
On the instructions of J Pitt and B Moon acting as Joint Fixed Charge Receivers
Property Information
Location
Miles
15 miles west of Central London, 5 miles north of Heathrow, 7 miles east of Slough
Roads
A40, A312, M4 (Junction 3), M25 (Junction 15)
Rail
Hayes & Harlington Rail Station , (direct to London Paddington approximately 18 minutes)
Air
London Heathrow
Situation
The property is situated in a prominent position on the busy Uxbridge Road (A4020) some 500 metres from Lombardy Retail Park. Nearby occupiers include Abbey Bank, Coral Betting Shop, KFC and Nationwide.
Tenure
Virtual Freehold. Held for a term of 999 years from 29th September 1994 until 28th September 2993 at a peppercorn rent
Location
Miles
15 miles west of Central London, 5 miles north of Heathrow, 7 miles east of Slough
Roads
A40, A312, M4 (Junction 3), M25 (Junction 15)
Rail
Hayes & Harlington Rail Station , (direct to London Paddington approximately 18 minutes)
Air
London Heathrow
Situation
The property is situated in a prominent position on the busy Uxbridge Road (A4020) some 500 metres from Lombardy Retail Park. Nearby occupiers include Abbey Bank, Coral Betting Shop, KFC and Nationwide.
Tenure
Virtual Freehold. Held for a term of 999 years from 29th September 1994 until 28th September 2993 at a peppercorn rent
Description
The property comprises a ground floor betting shop and ancillary accommodation with a self-contained three bedroom residential maisonette on first and second floors, accessed from Coleridge Way.
Note:
This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including any in relation to VAT, can be given. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor betting shop and ancillary accommodation with a self-contained three bedroom residential maisonette on first and second floors, accessed from Coleridge Way.
Note:
This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including any in relation to VAT, can be given. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Retail/Ancillary
111.94 sq m
(1,205 sq ft)
DONE BROTHERS (CASH BETTING) LIMITED (1)
15 years from 24/05/2007 until 23/05/2022 on a full repairing and insuring lease
£42,500
24/05/2012 and 24/05/2017
First/ Second
Residential – 1 x 3 Bedroom Maisonette
50.29 sq m
(541 sq ft)
KARAKUM SERVICES LIMITED (2)
12 months from 23/02/2010 until 22/02/2011 (3) (4)
£10,200 (5)
Totals
162.23 sq m
(1,746 sq ft)
£52,700
(1) For the year ending 28th March 2010, Done Brothers (Cash Betting) Limited reported a turnover of £3,502,057,000, pre-tax profits of £358,000 and a net worth of £35,768,000. (Source: www.riskdisk.com 19/09/2011) (2) Karakum Services Limited is a drilling consultancy and project management company registered in St Vincent and Grenadines, Caribbean. (Source: www.karakumservices.com 11/11/2011) (3) The residential tenant is holding over. (4) The tenancy provides a two month notice period. (5) The rent has been annualised. The rental income is £850 per calendar month.
Contacts
Seller's Solicitors
Berwin Leighton Paisner LLP Adelaide House, London Bridge London EC4R 9HA
