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Lot 1

Freehold Commercial/Residential Investment
6 Week Completion

Situation

In this well known shopping location amongst such other multiple retailers as Boots, Ladbrokes and Costcutter as well as a host of independent local traders.
Northolt is a popular suburb approx. 11 miles north-west of central London with easy access via the A40 to the M40 and M25 motorways and approx. 8 miles north-east of Heathrow Airport.

Property

A mid terraced building comprising a Ground Floor Shop with separate rear access via a service road approached from Wadham Gardens to a Self-Contained Flat planned on the first and second floors, a private parking area and a rear entrance to the shop.

Accommodation

No. 21 - Ground Floor Shop
Gross Frontage 20'6''
Internal Width 18'6''
Built Depth 46'0”
No. 22 - First & Second Floor Flat
5 Rooms, Kitchen, Bathroom/WC

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to L. & A. Ruggeiro t/a Golden Crust Bakery for a term of 20 years from 24th June 2003 at a current rent of £19,500 per annum exclusive.

Valuable Reversion June 2023

Note 1: The shop was closed at the time of our inspection as the lessees were abroad, but the shop is due to re-open on 30th August 2021 when a new photograph will be taken which will be available from the Auctioneers upon request.

Note 2: We understand the flat is sublet on an AST at £12,000 p.a. (£1,000 pcm).

Enquire about this lot:

JOINT AUCTIONEER:
Stanwood Professional Services
Tel: 020 7692 0708 Ref: Stephen Strachan
steve@stanwoodestates.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.

21/22 Oldfields Circus, Northolt, Middlesex UB5 4RR