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Lot 18 Click here for addendum

Retail Investment – Gross Yield 9%
6 Week Completion

Situation

Located at the junction with Sotheby Road, within this well established parade serving the surrounding sought after residential area. Arsenal's Emirates Stadium is approx. ½ mile distant and Arsenal Station (Piccadilly Line) is within close proximity. Highbury lies midway between Finsbury Park and Islington and being approx. 4 miles north of central London.

Property

Forming part of a mid terraced building comprising a Ground Floor Shop and Basement. In addition, the property benefits from use of a rear footpath accessed from Sotheby Road.

Accommodation

Ground Floor Shop
Internal Width    13'7''
widening to    15'2''
Shop & Built Depth    64'8''
Kitchenette plus 2 WCs
Basement
Area    Approx. 210 sq ft

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 James Edward Properties Limited (with personal guarantor) as Estate Agents for a term of 10 years from 14th March 2022 at a current rent of £27,000 per annum exclusive.

Rent Review and Tenant’s Break 2027

Note 1: There is a £6,750 Rent Deposit held.

Note 2: There may be potential to convert the rear of the ground floor into Residential use, subject to obtaining possession and the necessary consents.

*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.

100 Highbury Park, Highbury, London N5 2XE