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Lot 3 Click here for addendum

Leasehold Commercial Investment
6 Week Completion

Situation

On the junction with Wood Lane, in this shopping parade close to branches of The Co-operative Funeralcare, Co-Op Convenience Store, Ladbrokes and a host of local traders all serving this popular suburb.
Kingsbury is situated between Wembley and Brent Cross and lies approximately 8 miles north-west of central London.

Property

An end of terrace building comprising a Ground Floor Shop.

Accommodation

Ground Floor Shop
Gross Frontage 33'0”
Internal Width 32'3”
shop narrowing to 17'6”
Shop Depth 39'4”
Built Depth 51'2”
WC

VAT is applicable to this Lot

Tenure

Leasehold for a term of 125 years from 18th August 2009 (thus having approx. 112⅓ years unexpired) at a peppercorn ground rent.

Tenancy

The entire property is let on a full repairing and insuring lease to Bestway National Chemist Limited t/a Well Pharmacy (having 760 branches) (T/O for Y/E 30/06/2020 £699m, Pre-Tax Profit £5.97m and Shareholders' Funds £152.5m) for a term of 15 years from 6th October 2014 at a current rent of £19,000 per annum exclusive.

Rent Review & Tenant's Break 2024

Note: The Tenant did not exercise their 2019 Break Option.

*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.

175 Church Lane, Kingsbury, London NW9 8JS