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Lot 32

Potential Redevelopment Site

6 week completion

Situation

Located at the junction with Worcester Avenue, just a short walk to the multiple shopping facilities in High Road and approx. 100 yards from the new Tottenham Hotspur Football Stadium as well as a Sainsbury's Supermarket. The immediate area is currently undergoing a massive regeneration with the construction of the new stadium costing circa £400m which will also deliver over 500 new flats, a hotel as well as a new public square. In addition, White Hart Lane Station (Overground) is within close proximity.

Property

A detached corner building with period features comprising a Children's Nursery planned on ground and first floors. The property includes uPVC double glazing, gas central heating and benefits from a gated front yard as well as separate side access from Worcester Avenue leading to a rear patio / garden /play area.

Accommodation

Ground Floor
3 Classrooms, Store, Office, WC
GIA Approx. 897 sq ft
First Floor
3 Classrooms, Kitchen, WCs
GIA Approx. 777 sq ft

Total GIA Approx. 1,675 sq ft

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease (excluding structure - see lease) to C. Shako & M. Shako as a Nursery for a term of 10 years from 29th September 2013 at a current rent of £27,500 per annum exclusive.

Rent Review September 2018

Note: There is a mutual break in September 2018 which has not been exercised.

*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.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

54 Northumberland Park, Tottenham, London N17 0TX