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Lot 2 Click here for addendum

Commercial Investment – Gross Yield 8%
6 Week Completion

Situation

Located close to the junction with Tufnell Park Road in this shopping parade which includes a Budgens and a Post Office and a variety of independent traders, all serving this sought after neighbourhood and within close proximity to Tufnell Park Underground Station (Northern Line).
In addition, the varied multiple shopping facilities of Holloway Road are approx. ½ a mile distant.
Tufnell Park is a popular residential area well located for both the West End and the City of London.

Property

Forming part of a mid-terraced building comprising a Ground Floor Café and Basement.

Accommodation

Ground Floor Café
Gross Frontage 14'2”
Internal Width 14'0”
Shop & Built Depth 27'2”
Basement
Kitchen Area Approx. 304 sq ft
WC

Total GIA Approx. 805 sq ft

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 2nd February 2021 at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to Wolf Kitchen Ltd (with personal guarantor) t/a Bear + Wolf Café (having 2 branches) for a term of 12 years from 22nd June 2015 (excl. s.24-28 of L & T Act 1954) at a current rent of £21,945 per annum exclusive.

Rent Review June 2024

Mutual Break September 2024

Note 1: There is a £5,486.25 Rent Deposit held

Note 2: There may be potential one day to convert the property into residential, subject to planning and possession.

*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.

9 Campdale Road, Tufnell Park, London N7 0EA