448/450 Holloway Road
London
N7 6QA

Freehold Retail & Residential Investment

  • Excellent location adjacent to Iceland, and close to Lidl, Boots the Chemist, Holland & Barrett & Costa
  • Shop let to The Works (4,397 sq ft)
  • Two newly refurbished flats above, separately let on AST's, with two other flats let on long leases
  • Busy and prominent North London location, close to the junction of Seven Sisters Road
  • Attractive Yield on Guide Price
  • Lot
    10
  • Auction
    13/Dec/2021
  • Rent
    £127,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £1,600,000 - £1,700,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 448/450 Holloway Road, London, N7 6QA
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  • Photos
  • Map

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

Property Information

Location
Miles
3 miles north of the City of London
Roads
A1, A503 (Seven Sisters Road),
A406 (North Circular)
Rail
Holloway Road (Piccadilly Line)
Upper Holloway (Overground)
Air
London City
Situation

Holloway is a busy and well recognised location in the inner-city district of the London Borough of Islington situated just three miles north of the City of London. Holloway Road (A1) is the main shopping destination for Holloway and the location benefits from excellent communications via the A1 and Holloway Road Underground Station. The property is located in a prominent position on the north side of Holloway Road, close to its junction with Seven Sisters Road. Nearby retailers include Lidl, Boots the Chemist, Holland & Barrett, Iceland Foods and Costa.

Tenure

Freehold.

Description

The property comprises a four storey building arranged as a large ground floor shop with basement, and four flats arranged on the first, second and third floors accessed separately from the front. Two flats are let on AST's (2x2 beds) and two flats are let on long leases.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x
Ground
Basement
Retail/Ancillary
Ancillary
221.51 sq m
187.00 sq m
(2,384 sq ft)
(2,013 sq ft)
THE WORKS STORES
LIMITED t/a The Works
(1)
5 years from 18/04/2019£91,500
Flat 1A (First)Residential
(2 bed flat)
72.00 sq m
(775 sq ft)
INDIVIDUAL2 year AST from
03/03/2021 (2)
£18,600
Flat 1B (First)Residential
(2 bed flat)
71.81 sq m
(773 sq ft)
INDIVIDUAL1 year AST from
14/01/2021 (3)
£16,800
Flats 2/3
(Second/Third)
Residential
190.64 sq m
(2,052 sq ft)
FAIRBROOK
INVESTMENTS
LIMITED (Flat 2) and
FAIRBROOK
MANAGEMENT
LIMITED (Flat 3)
Held on two leases each
for 999 years from
25/03/2005
£100
Total
742.96 sq m
(7,997 sq ft)  £127,000

(1) For the year ending 02/05/2021, The Works Stores Limited reported a turnover of £180,680,000, pre-tax profits of £-5,707,000 and shareholders funds of £5,733,000 (NorthRow 10/11/2021).
(2) Tenant option to break on 03/03/2022.
(3) The tenant of Flat 1B has confirmed that they won't be renewing their tenancy and wish to vacate at the end of the term.

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
    29.11.21
    File Size
    89 MB
    Login to View
  • Catalogue Page
    Updated Date
    23.11.21
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    23.11.21
    File Size
    888 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
George GoucherGeorge Goucher +44 (0)20 7034 4860 +44 (0)7513 610 710george.goucher@acuitus.co.uk
Associate Auctioneers
CWM Retail Property Advisers 35 Heddon Street
London
W1b 4BP
Ben Simpson 020 7494 6932bs@cwm.co.uk
Seller's Solicitors
Levi Solicitors LLP 33 St Pauls Street
Leeds
LS1 2JJ
Ian Land 0113 297 3176iland@levisolicitors.co.uk

Useful Links

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