Includes a 6 room Maisonette on the first and second floors.
Retail rent review to Open Market Rent of increased by 10%
October 2021 Rent Review
Popular and busy Cosmopolitan West London suburb
VAT-free investment
Lot 11
Auction 21st July 2021
Rent £124,200 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
13 miles west of Central London, 4 miles west of Ealing, 5 miles north of Brentford
Roads
A4020, M4, M25
Rail
Southall Railway Station
Air
London Heathrow and London Gatwick Airports
Situation
Southall is a major cosmopolitan West London suburb situated within the London Borough of Ealing, 3 miles to the north-east of Heathrow Airport. The property is located on the south side of The Broadway, (A4020) a busy and popular retailing street synonymous with Asian Jewellery and fashion shopping across Europe. The Broadway is home to an eclectic mix of independent retailers, restaurants and cafes.
Tenure
Freehold.
Location
Miles
13 miles west of Central London, 4 miles west of Ealing, 5 miles north of Brentford
Roads
A4020, M4, M25
Rail
Southall Railway Station
Air
London Heathrow and London Gatwick Airports
Situation
Southall is a major cosmopolitan West London suburb situated within the London Borough of Ealing, 3 miles to the north-east of Heathrow Airport. The property is located on the south side of The Broadway, (A4020) a busy and popular retailing street synonymous with Asian Jewellery and fashion shopping across Europe. The Broadway is home to an eclectic mix of independent retailers, restaurants and cafes.
Tenure
Freehold.
Description
The property comprises a self contained commercial unit with ground floor retail accommodation and ancillary accommodation in the basement and a self contained six room maisonette on the first and second floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Description
The property comprises a self contained commercial unit with ground floor retail accommodation and ancillary accommodation in the basement and a self contained six room maisonette on the first and second floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground Basement
Retail Ancillary
144.74 sq m 14.03 sq m
(1,558 sq ft) (151 sq ft) (1)
MAHI’S FASHION LIMITED (CRN 1051116) with a personal guarantee
10 years from 15/10/2018 until 14/10/2028
£102,000 (5)
15/10/2021, 15/10/2024 and 15/10/2027 (3)
First and Second
6 Room Maisonette
59.18 sq m 59.18 sq m
(637 sq ft) (637 sq ft) (2)
LOFT AND MAIN LIMITED (CRN 12324737)
5 Years from 22/03/2021 (4)
£22,200 (4)
Total Approximate Floor Area
277.13 sq m
(2,983 sq ft)
£124,200
(1) The Ground and Basement floor areas stated above are those published by the Valuation Office Agency at https://www.tax.service.gov.uk/business-rates-find/valuations/15720449000. (2) The floor areas stated above for the maisonette are Gross Internal Areas. (3) The lease provides for the rent at each review date to be reviewed to the higher of Open Market rental Value of increased by 10%. (4) As to the maisonette the lease provides to a rolling Landlord's option to determine the lease after 30 months from the date of the lease on serving 6 months notice and a rolling Tenant option to determine the lease after 25 months from the date of the lease on serving 2 month notice. The stated above has been annualised, the rent reserved under the terms of the lease is £1,850 per month. (5) As to the retail unit, the lease provides for the rent to be paid monthly.
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.
