Petrol Filling Station
Dudden Hill Lane
London
NW10 1DE

Well Secured Long Let Freehold Petrol Filling Station Investment

  • Recently let to Euro Garages Limited until 2050 (no breaks)
  • 2.5% p.a. compounded rental increases throughout duration of lease, received every 5 years
  • Further increase in annual rent if tenant installs apparatus for hydrogen/electric fuelling (2)
  • Includes Spar Convenience Store/ Subway/Starbucks On The Go/WC & ATM; numerous petrol and diesel pumps for cars and HGV's, a car wash and car parking
  • Site area 0.23 hectares (0.57 acres)
  • Busy North West London location close to A406 (North Circular Road) between Dollis Hill and Neasden Tube Stations
  • Long term residential or alternative use potential (4)
  • Lot
    8
  • Auction
    24/Sep/2021
  • Rent
    £180,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £4,000,000+
  • Sector
    Motor Trade/Petrol Station
  • Auction Venue
    Live Streamed Auction
  • Petrol Filling Station, Dudden Hill Lane, London, NW10 1DE
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
1.5 miles east of Wembley
4 miles north-west of Marble Arch
Roads
A4088, A406, A40, M1
Rail
Neasden Underground,
Dollis Hill Underground
Air
London Heathrow Airport
Situation

The property is prominently situated on the west side of the busy Dudden Hill Lane (A4088), midway between Burnley Road and Normanby Road, just north of Willesden, between Neasden and Dollis Hill Underground stations, in a mixed commercial and residential area.

Tenure

Freehold.

Description

The property comprises a petrol filling station with two X 6 hose pumps, two X 8 hose pumps and two filling stations with diesel pumps for HGV's. The property benefits from a Spar Convenience store with a Subway, Starbucks On The Go, WC, ATM and a TV and seating area. The property also has car parking and a car wash, on a total site of approximately 0.23 hectares (0.57 acres).

VAT

VAT is applicable to this lot.

Planning

The site may have long term residential or alternative use potential, subject to the existing lease and obtaining the relevant consents. All enquires should be referred to The London Borough of Brent. (www.brent.gov.uk)

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
GroundConvenience
Store/Petrol
Filling Station
217.94 sq m
(2,346 sq ft)
EURO GARAGES
LIMITED (1)
30 years from
18/12/2020 until
17/12/2050 on a full
repairing and
insuring lease
£180,000 (2)2.5% p.a. rental
increases,
compounded annually
and payable 5 yearly
rising to £203,653 pa
in 2025 with further
fixed rental increases
throughout the lease
(3)
Total
Site Area:
217.94 sq m
0.23 hectares
(2,346 sq ft)
(0.57 acres)
  £180,000 (2) 

(1) For the year ending 31st December 2019, Euro Garages Limited reported a turnover of £2,215,921,000, a pre- tax profit of £53,903,000 and shareholder funds of £284,903,000 (Source: NorthRow 26/08/2021). Euro Garages has established itself as one of the UKs fastest growing and most recognisable forecourt operators, with an expanding portfolio of around 4500 sites across the UK, mainland Europe, the USA and Australia (https://uk.eurogarages.com 27/08/2021).
(2) With the landlord's consent, the tenant can install electric or Hydrogen fuelling points. If they do, the annual rent will increase by £2,500 p.a, also to be compounded annually at a rate of 2.5%pa, payable 5 yearly and any increased annual rent will be immediately due and will not be retrospective - please see lease (Schedule 6, page 60)
(3) The lease specifies 2.5% p.a. compounded rental increases payable every 5 years.
The current rent increases to: £203,653 p.a. on 18/12/2025;
Rising to £230,415 p.a. on 18/12/2030;
Rising to £260,694 p.a. on 18/12/2035;
Rising to £294,951 p.a. on 18/12/2040:
Rising to £333,710 p.a. on 18/12/2045.

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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    14.09.21
    File Size
    29 MB
    Login to View
  • Catalogue Page
    Updated Date
    03.09.21
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    03.09.21
    File Size
    559 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854 +44 (0)7824 705 955billy.struth@acuitus.co.uk
Seller's Solicitors
BBS Law 9th Floor, City Tower,, 40 Basinghall St
London
EC2V 5DE
Avi Barr 0204 505 8080abarr@bbslaw.co.uk

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