111 The Broadway
Southall
Middlesex
Greater London
UB1 1LN

Freehold Retail and Residential Investment

Retail Unit let until 2028 (no breaks)
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
21/Jul/2021
Rent
£124,200 per Annum Exclusive
Status
Contact Us
Price*
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Important Update

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Photos
Map

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

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.

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 £1,000 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.