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Lot 2

Freehold Commercial Investment with Potential Development Opportunity
6 Week Completion

Situation

Occupying a prominent corner position at the junction with Barnfield Road in this established shopping centre, opposite Costa and amongst such multiples as William Hill, Paddy Power, Ladbrokes, Merkur Slots, Oxfam, Poundstretcher, Coral and a host of established traders being within close proximity of Burnt Oak Underground Station (Northern Line).
Burnt Oak is a popular north-west London suburb located approximately 9 miles from central London with good access to the M1 and M25 motorways.

Property

A prominent corner building comprising a Ground Floor Shop with internal and separate side access to Office/Ancillary Accommodation on the first floor. In addition, the property includes part of the side forecourt along the Barnfield Road frontage - refer to Title Plan in the legal pack.

VAT is NOT applicable to this Lot

FREEHOLD

Accommodation

Ground Floor Shop
Gross Frontage 25'0"
Return Window Frontage 33'10"
Internal Width 23'11"
Shop & Built Depth 69'4"
WC
GIA incl. stairs Approx. 1,580 sq ft

First Floor Offices/Ancillary
6 Rooms, 2 Stores, WC
GIA incl. stairs Approx. 1,580 sq ft

Total GIA Approx. 3,160 sq ft

Tenancy

The entire property is let on a full repairing and insuring lease to Shri Nagin Properties Ltd as a Hair & Beauty Salon for a term from 20th May 2021 (in occupation since 2019) to 28th September 2035 at a current rent of £28,000 per annum exclusive.

Rent Reviews 2025 and 2030

Note 1: There is a £7,000 Rent Deposit held.

Note 2: There is potential to convert part of the property into a number of flats, subject to obtaining possession and the necessary consents.

Enquire about this lot:

JOINT AUCTIONEER:
Athawes, Son & Co
Tel: 020 8992 0056 Ref: Mark Stevens
mark@athawes.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.

144 Burnt Oak Broadway, Edgware, Middlesex HA8 0BB