Freehold Public House and Land With Development Potential
Former Public House Building with Substantial Car Park
Residential Development Potential on Car Park (Subject to Consents)
650 metres from Edgware Underground Station
Total Approximate Site Area of 0.4 Acres
Let to 3 Tenants on tenancies Outside the Security of Tenure Provisions of the Landlord and Tenant Act 1954
Lot 24
Auction 17th February 2022
Rent £152,500 per Annum Exclusive
Status Sold
Price £2,855,000
Sector Public House
Auction Venue Live Streamed Auction
Property Information
Location
Miles
8miles north-west of Marble Arch and London's West West
Roads
A1, A5, A406, A41, M1 (Junction 1), M25
Rail
Edgware Underground Station (Northern Line) Burnt Oak Underground Station (Northern Line)
Air
London Heathrow Airport, London Luton Airport
Situation
Edgware, an affluent residential suburb located 1some 8 miles north west of Marble Arch and London's West End. The property is prominently situated on the west side of busy and popular High Street (A5) close to its junction with Spring Villa Road and adjacent to significant recent residential developments. The locality benefits from being a short walk from Edgware Town centre and Edgware underground station. Nearby occupiers include Premier Inn, Lidl, SafeStore Self Storage, Peugeot and Citreon car showrooms and a combination of medium rise residential and commercial blocks.
Tenure
Freehold.
Location
Miles
8miles north-west of Marble Arch and London's West West
Roads
A1, A5, A406, A41, M1 (Junction 1), M25
Rail
Edgware Underground Station (Northern Line) Burnt Oak Underground Station (Northern Line)
Air
London Heathrow Airport, London Luton Airport
Situation
Edgware, an affluent residential suburb located 1some 8 miles north west of Marble Arch and London's West End. The property is prominently situated on the west side of busy and popular High Street (A5) close to its junction with Spring Villa Road and adjacent to significant recent residential developments. The locality benefits from being a short walk from Edgware Town centre and Edgware underground station. Nearby occupiers include Premier Inn, Lidl, SafeStore Self Storage, Peugeot and Citreon car showrooms and a combination of medium rise residential and commercial blocks.
Tenure
Freehold.
Description
The property comprises a former public house building that has been separated and let as 3 different units. The hand side of the ground floor , part first floor and garden is used as a Bar and Restaurant. The right hand side of the ground floor is a retail unit and the first and second floors are let as a residential unit. The property also benefits from a significant Car Park at the rear . The total approximate site area is 0.4 Acres.
VAT
VAT is applicable to this lot.
Planning
The car park may be suitable for residential development (subject to consents). The former Public House building is Grade 2 listed but is not within a conservation area.
The property is within the jurisdiction of the London Borough of Barnet
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.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a former public house building that has been separated and let as 3 different units. The hand side of the ground floor , part first floor and garden is used as a Bar and Restaurant. The right hand side of the ground floor is a retail unit and the first and second floors are let as a residential unit. The property also benefits from a significant Car Park at the rear . The total approximate site area is 0.4 Acres.
VAT
VAT is applicable to this lot.
Planning
The car park may be suitable for residential development (subject to consents). The former Public House building is Grade 2 listed but is not within a conservation area.
The property is within the jurisdiction of the London Borough of Barnet
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.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First Lower Ground
Public House Ancillary Ancillary
225.00 sq m 195.00 sqm 30.00 sq m
(2,421 sq ft) (2,098 sq ft) (322 sq ft)
COMP HOLDINGS LIMITED (1)
10 Years from 01/06/2018 until 2028 (2)
£62,500
31/05//2023 (2) (01/06/2028)
19-21 High Street Ground First Second
195 sq m 141 sq m
(2,098 sq ft) (1,517 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy for a term of 3 years from 06/04/2021
£60,000 (3)
(05/04/2024)
Car Park
Car Park
Assured Shorthold Tenancy for a term of 2 years from 01/01/2021
£30,000
Total
591 sq m
(6,358 sq ft)
£152,500
(1) Comp Holdings Limited (CRN 12189681) (2) The lease is outside of the security of tenure provisions of the Landlord and Tenant Act 1954. The lease benefits from upward only rent reviews. A rent deposit of £12,500 is held by the landlord. (3) The rent reserved for the Assured Shorthold Tenancy is £5,000 per calendar month, the rent shown above has been annualised.
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.
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