Let to Jeston Insurance Brokers Limited, an Estate Agents, an Internet Café and a Hair & Nail Salon
Popular North West London Suburb
Prominent and Busy Retail Location
Nearby occupiers include Lidl, Iceland, Subway, KFC, Greggs, Costa Coffee and an Eclectic Mix of Local Retailers
VAT-Free Investment
Lot 13
Auction 27th March 2024
Rent £75,670 per Annum Exclusive
Status Sold
Price £1,100,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
9 miles from London's West End, 4 miles south west of Wembley Stadium, 10 miles south of Watford
Roads
A40, A406 (North Circular Road), M4, M25, M40
Rail
South Greenford Railway Station, Greenford Underground Station (Central Line)
Air
London Heathrow Airport, London City Airport
Situation
Greenford is a popular residential suburb some 9 miles west of London's West End. The property is situated on the south side of the busy Broadway opposite its junction with Oldfield Lane South. Nearby occupiers include Lidl, Iceland, Subway, KFC, Greggs, Costa Coffee and an eclectic mix of local retailers.
The property also benefits from Greenford Broadway Car Park directly opposite.
Tenure
Freehold.
Location
Miles
9 miles from London's West End, 4 miles south west of Wembley Stadium, 10 miles south of Watford
Roads
A40, A406 (North Circular Road), M4, M25, M40
Rail
South Greenford Railway Station, Greenford Underground Station (Central Line)
Air
London Heathrow Airport, London City Airport
Situation
Greenford is a popular residential suburb some 9 miles west of London's West End. The property is situated on the south side of the busy Broadway opposite its junction with Oldfield Lane South. Nearby occupiers include Lidl, Iceland, Subway, KFC, Greggs, Costa Coffee and an eclectic mix of local retailers.
The property also benefits from Greenford Broadway Car Park directly opposite.
Tenure
Freehold.
Description
The property comprises an attractive parade of 4 ground floor retail units each with a residential maisonette above. The maisonettes are accessed via the real service road.
VAT
VAT is not applicable to this lot.
Note
As to the residential flats, the tenants have been served notice pursuant to Section 5B of the Landlord and Tenant Act 1987. The notices were served on the 7th November 2023, the tenants had until the 14th January 2024 to respond to the notices. As no tenants had responded to the notices by the 14th January 2024, the tenants are not able exercise the right of pre-emption on this sale.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an attractive parade of 4 ground floor retail units each with a residential maisonette above. The maisonettes are accessed via the real service road.
VAT
VAT is not applicable to this lot.
Note
As to the residential flats, the tenants have been served notice pursuant to Section 5B of the Landlord and Tenant Act 1987. The notices were served on the 7th November 2023, the tenants had until the 14th January 2024 to respond to the notices. As no tenants had responded to the notices by the 14th January 2024, the tenants are not able exercise the right of pre-emption on this sale.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Address
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review (Reversion)
55 The Broadway
Ground
Retail
61.76
(665)
AN INDIVIDUAL (t/a Evans & Company Estate Agents)(2)
10 years from 14/08/2018
£22,750
(13/08/2028)
59 The Broadway
Ground
Retail
70.67
(761)
AN INDIVIDUAL (t/a Blue Star Internet Café)(3)
15 years from 22/12/2021
£18,000
31/10/2025 and five yearly (21/12/2036)
61 The Broadway
Ground
Retail
51.36
(553)
JESTON INSURANCE BROKERS LIMITED (CRN: 00738228)
15 years from 20/06/2020 (4)
£16,500
20/06/2025 and 20/06/2030 (19/06/2035)
65 The Broadway
Ground
Retail
61.35
(660)
AN INDIVIDUAL (t/a Perfection Hair and Nails)
15 years from 23/05/2021 (5)
£18,000
23/05/2026 and five yearly (22/05/2036)
55A The Broadway
First Second
Maisonette
-
(-)
AN INDIVIDUAL
99 years from 25/03/1985
£60
(24/03/2084)
59A The Broadway
First Second
Maisonette
-
(-)
AN INDIVIDUAL
99 years from 25/03/1985
£150
(24/03/2084)
61A The Broadway
First Second
Maisonette
-
(-)
AN INDIVIDUAL
99 years from 25/03/1985
£60
(24/03/2084)
65A The Broadway
First Second
Maisonette
-
(-)
AN INDIVIDUAL
99 years from 25/03/1985
£150
(24/03/2084)
Total Approximate Commercial Floor Area
245.14
(2,639)
£75,670
(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.gov.uk/find-business-rates). (2) As to 55 The Broadway, the tenant operates a residential estate agents that are long established since 1992 (see: www.evanson-line.com). The tenant did not exercise the option to determine the lease in August 2023, (3) As to 59 The Broadway, the seller is holding a rent deposit of £4,537.69 including VAT. (4) As to 61 The Broadway, Jeston Insurance Brokers Limited (crn:00738228) were incorporated in 1962, for more information visit www.jestons.co.uk. The lease provides for a tenants option to determine the lease on 19/06/2025 on serving 6 months notice. (5) As to 65 The Broadway, the seller is holding a rent deposit of £8,942.89 including VAT.
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.
