Rare Freehold Retail and Residential Investment Opportunity
Retail unit with three x 1 bedroom residential flats above all let on AST's
Highly prestigious and affluent North West London location
Immediate proximity to St. John’s Wood High Street and Lords Cricket Ground
Nearby occupiers include The Ivy Café, Zadig & Voltaire, Space NK and Boots
Lot 9
Auction 12th July 2022
Rent £92,880 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail/Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
1.5 miles north of London’s West End
Roads
A41 Wellington Road/Finchley Road
Rail
St John’s Wood Underground Station
(Jubilee Line)
Air
Heathrow, Luton and City Airports
Situation
St. John’s Wood is a highly affluent and prestigious North London district situated just north of Regent’s Park and is home to the world famous Lords Cricket Ground. The property occupies a prominent position on Allitsen Road, close to its junction with St. John’s Wood High Street. The property is a five minute walk from St John’s Wood Underground, which provides access to the Jubilee Line. Nearby occupiers include The Ivy Café, Zadig & Voltaire, Space NK, Boots and a host of many upmarket independent retailers.
Tenure
Freehold.
Location
Miles
1.5 miles north of London’s West End
Roads
A41 Wellington Road/Finchley Road
Rail
St John’s Wood Underground Station
(Jubilee Line)
Air
Heathrow, Luton and City Airports
Situation
St. John’s Wood is a highly affluent and prestigious North London district situated just north of Regent’s Park and is home to the world famous Lords Cricket Ground. The property occupies a prominent position on Allitsen Road, close to its junction with St. John’s Wood High Street. The property is a five minute walk from St John’s Wood Underground, which provides access to the Jubilee Line. Nearby occupiers include The Ivy Café, Zadig & Voltaire, Space NK, Boots and a host of many upmarket independent retailers.
Tenure
Freehold.
Description
The property forms part of an attractive terrace and comprises a striking five storey building. Internally, the property provides a ground floor and basement retail unit with three self-contained residential flats located on first, second and third floors. The residential accommodation is accessed via Allitsen Road.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion.
EPC
Available within the legal pack.
Description
The property forms part of an attractive terrace and comprises a striking five storey building. Internally, the property provides a ground floor and basement retail unit with three self-contained residential flats located on first, second and third floors. The residential accommodation is accessed via Allitsen Road.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion.
EPC
Available within the legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx sq m)
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Rent Review / (Reversion)
130
Ground Basement
Retail Retail
46.44 51.56
(501) (555)
LAVISH HAIR AND BEAUTY LIMITED (1)
10 years from 04/06/2014 (2)(3)
£36,000
(03/06/2024)
Flat 1
First
Residential
1 Bed Flat
INDIVIDUAL
1 year AST from 31/03/2022
£20,280
(30/03/2023)
Flat 2
Second
Residential
1 Bed Flat
INDIVIDUAL
2 year AST from 30/12/2021 (4)
£19,200
(29/12/2023)
Flat 3
Third
Residential
1 Bed Flat
INDIVIDUAL
1 year AST from 24/09/2021
£17,400
(23/03/2022)
Total Commercial Floor Area
98.00
(1,056 sq ft)
£92,880
(1) https://lavishhairbeautyclinic.com (2) A rent deposit of £9,000 is held by the vendor. (3) The lease has been assigned from Shaman Enterprises Limited. (4) The lease provides a mutual option to determine from 29/12/2022 on not less than 2 months’ notice.
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.
