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Lot 3

Retail Investment
8 week completion

Situation

Occupying a prominent position on Holders Hill Circus, nearby multiples such as Post Office, BP/M&S Simply Food and Coral and a variety of independent traders, all serving this popular and sought-after suburb of North London. In addition, the area benefits from the Millbrook Park residential development which comprises of over 2,000 units.
Holders Hill Circus is located approximately 300 yards from Waitrose Mill Hill and less than 500 yards from Mill Hill East Underground Station (Northern Line), between Mill Hill and Finchley, approximately 8 miles north of Central London.

Property

Forming part of a shopping parade comprising a mid-terrace Ground Floor Shop. The parade benefits from layby parking.

Accommodation

Ground Floor Shop
Gross Frontage 33'6"
Internal Width 31'3"
Rear Width 13'4"
Shop & Built Depth 35'10"
WC

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from completion at a peppercorn ground rent.

Tenancy

The property is let on an effectively full repairing and insuring lease to Squires Estates Limited (Estate Agents) for a term of 10 years from 5th December 2018 at a current rent of £16,000 per annum exclusive.

Rent Review December 2023

Note 1: There is a £6,250 Rent Deposit held.

Note 2: The lessees have been in occupation since 2008.

Note 3: Please note 4 other lots in Thornfield Parade are also being offered for sale in this auction – see Lots 1, 2, 4 & 5.

*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.

7 Thornfield Parade, Holders Hill Road, Mill Hill, London NW7 1LN