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Lot 1
38 Cannon Hill, Southgate, London N14 6LG

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* Reserve below

£425,000

6 Week completion

SITUATION

In this very popular parade close to the well-known ‘Ye Olde Cherry Tree' Public House serving this affluent residential area, amongst such multiples as Coral, Café Rouge, Village Vet and the Post Office, plus a variety of local traders.
The property is located within 10 minutes walk of Southgate Underground Station (Piccadilly Line).
Southgate lies approximately 8 miles north of Central London.

PROPERTY

A mid terrace building comprising a ground floor Hair and Beauty Salon with separate rear access to a Self-Contained Flat on the first and second floors.
In addition the property includes a Rear Yard providing parking for 2 cars, accessed via a rear service road.

ACCOMMODATION

Ground Floor Salon
Gross Frontage 20'3"
Internal Width 18'8"
Shop Depth 33'11"
Built Depth 55'7"
2 Treatment Rooms plus WC
First & Second Floor Flat
First Floor - 3 Rooms, Kitchen, Bathroom, WC
Second Floor - 2 Rooms

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to A. Duzgun and M. Akdogan as Sassy Hair & Beauty for a term of 12 years from 10th September 2016 (renewal of a previous lease) at a current rent of £23,000 per annum exclusive.

Rent Reviews 2020 and 2024

Note

The Tenant sublets the Flat on an AST.

*Please note:

RESERVE:The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE: Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.