82–84 St Ann’s Road
Harrow
London
HA1 1JX

Freehold Retail Investment with Residential Development Potential

Substantial modern building comprising two extensive retail units capable of further subdivision
Approximately 1,271.90 sq m (13,685 sq ft) with the upper floors comprising 848 sq m (9,133 sq ft)
Prime retail position between St George and St Anns Shopping Centres
Residential development potential on upper floors (subject to consents)
Recent interest from potential tenants including Footlocker and Skipton Building Society (2) (3)
Neighbouring occupiers include Starbucks, Greggs, TSB Bank, Santander, Costa, Pret a Manger and Primark

Lot
8
Auction
25/Mar/2021
Rent
£48,000 per Annum Exclusive
Status
Sold
Price*
£3,225,000
Sector
Development
Auction Venue
Live Streamed Auction
On behalf of a major Asset Manager

Important Update

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Photos
Map

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

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

The property is situated in a prime retailing position on the north side of the busy and pedestrianised St Anns Road, directly between St George and St Anns Shopping Centres, approximately 300 metres from Harrow-on-the-Hill Railway Station (Underground & Network Rail). Neighbouring occupiers include Starbucks, Greggs, TSB Bank, Santander, Costa, Pret a Manger and Primark.

Tenure

Freehold.

Description

The property currently comprises two substantial ground floor retail units with two extensive upper floors. Unit 82 is a substantial retail unit capable of further subdivision. Previous tenants have traded from parts of the upper floors in addition to the ground floor. The property benefits from 24.5 metre (80 feet) frontages and access to the rear from Greenhill Way, providing an opportunity for residential conversion on the upper floors (Subject to consents).

VAT

VAT is applicable to this lot.

Completion Period

Four Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
82	Ground First Second	Retail Retail Ancillary	316.10 sq m 276.10 sq m 298.90 sq m	(3,401 sq ft) (2,971 sq ft) (3,216 sq ft)	HOME WAREHOUSE CENTRE t/a Home Store (2)	1 year from 18/09/2020	£48,000	17/09/2021 (1)
84	Ground First Second Loft	Retail Ancillary Ancillary Storage	107.00 sq m 114.60 sq m 107.50 sq m 51.70 sq m	(1,151 sq ft) (1,233 sq ft) (1,157 sq ft) (556 sq ft)	VACANT POSSESSION (3)
Totals			1,271.90 sq m	(13,685 sq ft)			£48,000 withvacant shop to be let

(1) The tenant has a rolling option to determine the lease upon giving 1 months' notice.
(2) As to unit 82, the current owner has considered subdividing unit 82 into two units, 82A and 82B. In relation to 82B (a proposed unit comprising ground floor of approximately 183.66 sq m (1,977 sq ft) and a first floor of approximately 178.46 sq m (1,921 sq ft) Freedom Sportsline Limited t/a Footlocker have expressed an interest in taking a lease at an average rent of £83,000 p.a.x. over the proposed term, subject to incentives. Full information is available in the legal pack.
(3) As to unit 84, Skipton building society have expressed an interest in taking a lease at an average rent of £57,000 p.a.x. over the proposed term, subject to incentives. Full information is available in the legal pack.

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.