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Lot 7

Retail Investment – Gross Yield 8.3%
6 Week Completion

Situation

Located in a prominent trading position on Onslow Parade at its Junction with Osidge Lane roundabout serving this popular residential area, amongst such multiples as Tesco Express, William Hill and Domino's Pizza and a host of local traders.
Southgate lies approximately 8 miles north of central London and the property is located less than a mile from Southgate Underground Station (Piccadilly Line).

Property

Forming part of a mid-terraced building comprising a Ground Floor Shop.

Accommodation

Ground Floor Shop
Gross Frontage 17'5"
Internal Width 16'3"
Rear Width 9'3"
Shop Depth 24'7"
Built Depth 40'10"
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 a full repairing and insuring lease to Blerim Krasniqi t/a Blin Café for a term of 10 years from 27th June 2022 at a current rent of £24,500 per annum exclusive.

Rent Review and Tenant's Break 2027

*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.

12 Onslow Parade, Hampden Square, Southgate, London N14 5JN