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Lot 3 Click here for addendum

Freehold Commercial Investment
On behalf of Executors
In the same ownership since 1982

Situation

Occupying a prominent trading position close to the junction with Delancey Street in this well known multiple retail throughfare, close to branches of Lidl, Poundland, Argos, Paddy Power, Subway, KFC, Papa Johns, BHF, Oxfam, Savers, and a host of local traders, mid-way between Mornington Crescent and Camden Town Underground Stations (Northern Line).
Camden Town is a highly sought after location between Islington and St John's Wood, under half a mile from Regent's Park and under 2 miles from Central London.

Property

A mid terraced building comprising a Ground Floor Shop with internal access to Ancillary Accommodation at first and second floor level.

Accommodation

Ground Floor Shop
Gross Frontage 17'6"
Internal Width 17'0"
Shop Depth 41'6"
Built Depth 52'1"
First Floor
Store Room Area Approx. 225 sq ft
Kitchen Area Approx. 68 sq ft
Shower Room/WC Area Approx. 45 sq ft
Second Floor
3 Store Rooms Area Approx. 400 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a Tenancy at Will to Hairdressing 248 Ltd as a Hair & Tanning Salon for a term of 12 months from 1st August 2021 at a current rent of £12,000 per annum exclusive.

Note 1: This agreement can be terminated by either party on 2 months notice and the freeholder's solicitor will give 2 months notice to the tenant on 1st February 2022 to terminate.

Note 2: The property was previously let at £40,000 p.a.

Note 3: We are informed by the Tenant at Will that one of the rooms on the second floor is being sub-let without the Vendor's knowledge for residential use at £100 p.w.

Note 4: There is clear potential to create a separate front access to convert the upper floors to residential, subject to possession and planning consent.

Note 5: There is a 6 Week Completion.

*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.

71 Camden High Street, Camden Town, London NW1 7JL