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Lot 3 Click here for addendum

6 Week Completion

Situation

In this well-known shopping centre near to the junction with Hale Lane, midway between Mill Hill Broadway and Edgware Town Centre and close to the Harvester Public House and a Co-op (opening soon).
Edgware is a sought after area approximately 9½ miles north-west of central London and benefitting from excellent transport links via the A41, M1 (Junction 4 - Northbound) and Edgware Underground Station (Northern Line).

Property

A terraced building comprising a Ground Floor Shop with separate rear access to a Self-Contained 2 Storey Upper Part used for Office and Storage.
There is a metal store building to the rear plus private parking area, which is approached from the rear service road.

Accommodation

Ground Floor Shop
Gross Frontage 20'3"
Internal Width 18'4"
Shop & Built Depth 32'10"
Store Building Approx. 190 sq ft
Site Depth 96'0"
First Floor
3 Rooms, Bathroom/WC
Second Floor
1 Room

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to
I.D. Aldridge as a Plumbing Merchants for a term of 5 years from 29th September 2015 at a current rent of £14,250 per annum exclusive.

Rent Review September 2018 (Not yet actioned)

Valuable Reversion 2020

Planning

Consent was granted on 26/3/2019 under Permitted Development for conversion into 2 self-contained flats:
• 1st Floor - 2 bedrooms, open plan Reception/Kitchen, Bathroom/WC
• 2nd Floor - Studio
Planning Ref. No. 19/1684/192. Plans available from Auctioneers.

Note 1: Once the conversion has been completed, Planning Consent can be applied for the addition of a rear dormer window at 2nd floor level to convert the studio flat into a 1 bedroom flat.

Note 2: Plans have been submitted with a planning application to extend the ground at the rear by 38'8" making the total Built Depth 71'2". Planning Ref No. 19/1688/FUL and the date of determination is 21st May 2019. Plans available from Auctioneers.

*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.

141/141A Deans Lane, Edgware, Middlesex HA8 9NY