Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 16

Commercial Investment – Gross Yield 12.5%
6 Week Completion

Situation

Located close to the junction with Craven Park within this residential area and approx. ½ mile from the varied shopping facilities of the High Street. The area is served by Harlesden Station (Overground and Bakerloo Line).
Harlesden lies approximately 6 miles north-west of central London and 3 miles west of West Hampstead with easy access to the A406 North Circular Road which connects to the A40.

Property

A semi-detached Commercial Building on ground and first floors together with an Adjoining Yard with street frontage to Park Road.

Accommodation

Ground Floor
Area Approx. 430 sq ft¹
First Floor
Area Approx. 337 sq ft¹
______________

Total Area Approx. 767 sq ft

Plus Adjoining Yard
Frontage 34'0"
Depth 35'0" (max)

¹Not inspected by Barnett Ross. Area taken from VOA.

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 125 years from 3rd September 2021 (thus having approx. 122¾ years unexpired) at a peppercorn ground rent.

Tenancy

The entire property is let on a full repairing and insuring lease to Holyland Properties Services Limited (For Y/E 31/05/22, Turnover and Pre-Tax Profits were not reported, but Shareholders' Funds were £685,363) for a term of 45 years from 22nd December 2022 (no tenant breaks) at a current rent of £25,000 per annum exclusive.

Rent Reviews 2032 and 5 yearly.

Note: The property may lend itself to a variety of alternative uses and redevelopment, 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 £1,000 plus 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.

26 Park Road, Harlesden, London NW10 8TA