27-33 Shaftesbury Circle Shaftesbury Avenue Harrow London HA2 0AT

27-33 Shaftesbury Circle
Shaftesbury Avenue
Harrow
London
HA2 0AT

Freehold London Supermarket & Residential Ground Rent Investment

Majority let to Tesco Stores Limited on a NEW 15 year lease (subject to option)
Prominent Location in Affluent London Suburb
Diagonally opposite McDonalds
Predominately Residential Location close to Whitmore High School
Includes 8 Flats Sold Off with Lease Expiries from 2085 & Car Parking

Lot
10
Auction
17th February 2022
Rent
£110,800 per Annum Exclusive
Status
Sold
Price
£1,925,000
Sector
Supermarket
Auction Venue
Live Streamed Auction

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Freehold London Supermarket & Residential Ground Rent Investment

Majority let to Tesco Stores Limited on a NEW 15 year lease (subject to option)
Prominent Location in Affluent London Suburb
Diagonally opposite McDonalds
Predominately Residential Location close to Whitmore High School
Includes 8 Flats Sold Off with Lease Expiries from 2085 & Car Parking

Lot 10
Auction 17th February 2022
Rent £110,800 per Annum Exclusive
Status Sold
Price £1,925,000
Sector
Supermarket
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 16 miles north-west of Central London, 8 miles south-east of Watford, 3 miles north of Wembley
Roads: A40 (Western Avenue), M1, M25, M40
Rail: Harrow-on-the-Hill Mainline Railway Station and Underground (Metropolitan Line)
Air: London Heathrow Airport & London Luton Airport

Situation

Harrow is an affluent and popular North West London suburb. The property is located in a predominately residential suburb, 1 mile south west of Harrow in a prominent location on Shaftesbury Circle. The property is within The Circle at the junction of Shaftesbury Avenue & Roxeth Green Avenue. Whitmore High School is close by, along with McDonalds and a number of local specialist retailers.

Tenure

Freehold.

Location

Miles: 16 miles north-west of Central London, 8 miles south-east of Watford, 3 miles north of Wembley
Roads: A40 (Western Avenue), M1, M25, M40
Rail: Harrow-on-the-Hill Mainline Railway Station and Underground (Metropolitan Line)
Air: London Heathrow Airport & London Luton Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor supermarket with sales and ancillary accommodation. There is loading facilities and car parking to the rear. The 2 upper floors provide residential accommodation of 8 flats, separately accessed via Shaftesbury Avenue.

VAT

VAT is applicable to this lot.

Completion Period

6 Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

6 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	Rent Review (Reversion)
Ground	Retail	495.20 sq m (5,330 sq ft)	TESCO STORES LIMITED (1) (part sublet 4)	15 years from 19/07/2021 (2)	£110,000	5 yearly linked to RPI (3)
First	Residential		INDIVIDUAL	147 years from 25/03/1986	£200 rising to £400 in 2033	Fixed Uplifts every 25 years
First	Residential		INDIVIDUAL	189 years from 25/03/1986	£0	-
First	Residential		INDIVIDUAL	148 years from 25/03/1986	£100 rising to £150 in 2036	Fixed Uplifts every 25 years
First	Residential		INDIVIDUAL	147 years from 25/03/1986	£200 rising to £400 in 2033	Fixed Uplifts every 25 years
Second	Residential		INDIVIDUAL	189 years from 25/03/1986	£0	-
Second	Residential		INDIVIDUAL	99 years from 25/03/1986	£100 rising to £150 in 2036	Fixed Uplifts every 50 years (24/03/2085)
Second	Residential		INDIVIDUAL	148 years from 25/03/1986	£100 rising to £150 in 2036	Fixed Uplifts every 50 years
Second	Residential		INDIVIDUAL	99 years from 25/03/1986	£100 rising to £150 in 2036	Fixed Uplifts every 50 years (24/03/2085)
Total Commercial Area		495.20 sq m (5,330 sq ft) plus 8 Flats			£110,800

(1) Tesco trade from over 3,400 units nationwide (www.tesco.com) and for the year ended 27th February 2021 Tesco Stores Limited reported a turnover of £42,451,000,000, pre-tax profit of £1,018,000,000, shareholders funds of £5,472,000,000 and a net worth of £4,972,000,000 (Source: Experian 09.11.2021)
(2) Tenant option to determine on the 19/07/2031
(3) Whilst the rent is subject to RPI-linked increases at review, the rent is capped at £115,000 between the fifth & tenth anniversaries (2026 & 2031).
(4) One shop unit is sublet to Harrington Estates Limited on a lease expiring on 17th March 2024.
NB : The seller has served notices on the residential tenants, pursuant to section 5B of the Landlord & Tenant Act 1987 (as amended). No acceptance notices have been received from the tenants within the acceptance period.

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.