Entirely Let to A & N Corporation Limited t/a Mooboo until 2026 with Tenant Option to Extend until 2031
Producing £35,000 pax Rising to £37,000 pax in 2023, £38,000 pax in 2024, £40,000 pax in 2025
Busy and Popular North London Suburb
Prominently Located Close to the Junction of Seven Sisters Road and Holloway Road (A1)
Residential Conversion potential (Subject to Consents)
Rolling Landlord Option to Determine the lease.
Lease Outside Security of Tenure provisions of Landlord & Tenant Act 1954
Nearby Occupiers Include Morrisons, William Hill, Lidl, Iceland & McDonald's
Lot 6
Auction 17th February 2022
Rent £35,000 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Restaurant
Auction Venue Live Streamed Auction
Freehold Retail London Investment
Property Information
Location
Miles
3 miles north of The City of London
Roads
A1 (Holloway Road)
Rail
Holloway Road Underground Station (Piccadilly Line)
Air
London City Airport, London Heathrow Airport
Situation
Seven Sisters Road (A 503) is a busy main arterial route through North London that runs between the A1 (Holloway Road) and A10 (Stamford Hill). The property is situated on the south side of Seven Sisters Road, close to the Junction of Holloway Road (A1). Neighbouring occupiers include Morrisons, Holland & Barrett, Iceland & McDonald's.
Tenure
Freehold.
Location
Miles
3 miles north of The City of London
Roads
A1 (Holloway Road)
Rail
Holloway Road Underground Station (Piccadilly Line)
Air
London City Airport, London Heathrow Airport
Situation
Seven Sisters Road (A 503) is a busy main arterial route through North London that runs between the A1 (Holloway Road) and A10 (Stamford Hill). The property is situated on the south side of Seven Sisters Road, close to the Junction of Holloway Road (A1). Neighbouring occupiers include Morrisons, Holland & Barrett, Iceland & McDonald's.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation and first and second floor ancillary accommodation. The property is currently let out as a bubble tea cafe.
The property may benefit from residential conversion of the upper parts, subject to obtaining consents.
VAT
VAT is applicable to this lot.
Note
The Special Conditions of Sale provide for the Buyer to pay to the Seller a sum in addition to the purchase price. Please see the Special Conditions of Sale which is available in the Seller’s solicitors Legal Pack.
EPC
Band C.
Description
The property comprises ground floor retail accommodation and first and second floor ancillary accommodation. The property is currently let out as a bubble tea cafe.
The property may benefit from residential conversion of the upper parts, subject to obtaining consents.
VAT
VAT is applicable to this lot.
Note
The Special Conditions of Sale provide for the Buyer to pay to the Seller a sum in addition to the purchase price. Please see the Special Conditions of Sale which is available in the Seller’s solicitors Legal Pack.
EPC
Band C.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversion)
Ground First Second
Restaurant Ancillary Ancillary
44.69 sq m 14.40 sq m 17.10 sq m
(481 sq ft) (155 sq ft) (184 sq ft)
A & N CORPORATION LIMITED t/a Mooboo
5 years from 03/08/2021 with tenant option to extend until 2031 (1)
£35,000 Rising to £40,000 in 2025 (1)
03/08/2023 03/08/2024 03/08/2025 (1) (03/08/2026)
Total Approximate Floor Area
76.19 sq m
(820 sq ft) (2)
£35,000 Rising to £40,000 in 2025 (1)
(1) The lease is outside of the security of tenure provisions of the Landlord and Tenant Act 1954 and for a rolling option for the Landlord to determine the lease at anytime on serving 6 months written notice. The lease provides for fixed rental increases rising to £37,000 per annum exclusive on 03/08/2023, £38,000 per annum exclusive on 03/08/2024 and £40,000 per annum exclusive on 03/08/2025. (2) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk)
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
