Skip to Content

Lot 5 Withdrawn Prior
Refer

Auction: Wednesday 24th June 2020

56–58 Fortune Green Road, West Hampstead, London NW6 1DT

  • Photo1
  • Photo2
  • Photo3
  • Photo4

Lot 5   Click here for addendum

Commercial Investment let until 2041 with no breaks & 12 month rent deposit

Situation

Located in this well-known retail parade at the junction with Burrard Road, midway between Finchley Road and West End Lane, opposite Nautilus Fish Restaurant and the local Police Station as well as being near to a Tesco Express.
Fortune Green Road is well serviced by a number of bus routes and West Hampstead Overground, Thameslink and Underground (Jubilee Line) Stations are just over ½ mile distant.
West Hampstead is an extremely popular mixed commercial and residential area conveniently situated for Hampstead and the West End.

Property

Forming part of an end of terrace building comprising a Ground Floor Commercial Corner Unit (see Note 1) which includes a Large Front Forecourt for outside use or parking for approx 3 cars.

Accommodation

Ground Floor Commercial Unit
Gross Frontage 46'5”
Return Window Frontage 7'1”
Unit Depth 23'10” (max)
GIA Approx. 720 sq ft incl. WC

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 25th March 2000 at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to GPS Property Maintenance Limited (see Tenant Profile) for a term of 25 years from 8th November 2016 at a current rent of £27,500 per annum exclusive.

Rent Reviews October 2021 and 5 Yearly

Tenant Profile

GPS is the parent company in partnership with Plumb it all London Ltd - plumbers established for over 30 years which operates from 92 Fortune Green Road (Source: www.plumbitalllondon.com).

Note 1: The Unit has a variety of uses which may include residential use, subject to obtaining the necessary consents - refer to Head Lease. The Unit has also been previously used as a Convenience Store, Coffee Shop and a Vehicle & Motorbike Showroom.

Note 2: There is a £27,500 Rent Deposit held.

Note 3: We understand the entire Unit has been sublet at £27,500 p.a. until 2023 and is used as a show flat by Elysian who are retirement village developers.

Note 4: 6 Week Completion.

Enquire about this lot:

Photo of Steven Grossman

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

Photo of Jonathan Ross

Jonathan Ross
020 8492 9449
jross@barnettross.co.uk

*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.