Prominently located at junction of Seven Sisters Road and Holloway Road
Entirely let to Photo7digital Limited
Recently renewed 10 year lease from May 2021 (no breaks)
Tenant in occupation for over 18 years
Close to Lidl, Waitrose, Iceland & McDonald's
Popular and busy North London Location
VAT-free London Investment
Lot 12
Auction 16th June 2021
Rent £28,000 per Annum Exclusive
Status Sold
Price £530,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
4 miles north of Central London
Roads
A1 (Holloway Road)
Rail
Holloway Road Underground (Piccadilly Line)
Air
London City
Situation
Seven Sisters Road is a busy main arterial route in North London that runs between the A1 (Holloway Road) and A10 (Stamford Hill). The property is situated in a prominent position on the south side of Seven Sisters Road, very close to its junction with Holloway Road, and less than half a mile from Holloway Road Underground Station (Piccadilly Line). Nearby retailers include Lidl, Waitrose, McDonald's, Iceland, Holland & Barrett, KFC, Superdrug and the Nag's Head Market, as well as numerous independent shops, cafe's and restaurants.
Tenure
Freehold.
Location
Miles
4 miles north of Central London
Roads
A1 (Holloway Road)
Rail
Holloway Road Underground (Piccadilly Line)
Air
London City
Situation
Seven Sisters Road is a busy main arterial route in North London that runs between the A1 (Holloway Road) and A10 (Stamford Hill). The property is situated in a prominent position on the south side of Seven Sisters Road, very close to its junction with Holloway Road, and less than half a mile from Holloway Road Underground Station (Piccadilly Line). Nearby retailers include Lidl, Waitrose, McDonald's, Iceland, Holland & Barrett, KFC, Superdrug and the Nag's Head Market, as well as numerous independent shops, cafe's and restaurants.
Tenure
Freehold.
Description
The property comprises a three storey building, arranged as a ground floor shop with ancillary accommodation on the first and second floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
C. See legal pack at www.acuitus.co.uk.
Description
The property comprises a three storey building, arranged as a ground floor shop with ancillary accommodation on the first and second floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
C. See legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First Second
Retail Ancillary Restricted Access
38.60 sq m 13.50 sq m -
(415 sq ft) (145 sq ft) (-)
PHOTO7DIGITAL LIMITED t/a Photo 7 Studio
10 years from 18/5/2021 until 17/05/2031 on a full repairing and insuring lease
£28,000 (1)
18/05/2026
Total
52.10 sq m
(560 sq ft)
£28,000
(1) Under the terms of the lease, the tenant has a rent free period until 28/09/2021. The tenant will then pay half rent from 29/09/2021 until 24/12/2021, after which the tenant will pay the full rent of £28,000 pa. The Vendor has agreed to adjust the completion monies so that the property effectively produces £28,000 pa from completion of the sale until the end of the concessionary rental period - please see Special Conditions of Sale.
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.
