Skip to Content

Lot 6 Sold Prior

Auction: Thursday 14th December 2023

656 Holloway Road, Upper Holloway, London N19 3NU

  • Photo1
  • Photo2

Lot 6

Shop Investment – Gross Yield 9.2%
6 Week Completion

Situation

Occupying a prominent trading position on the busy Holloway Road (A1), close to the junction with Fortnam Road, amongst a host of established local retailers and restaurants plus a modern Co-op Supermarket, being well served by numerous bus routes and only a few minutes' walk from Upper Holloway (Overground) Station and within easy reach of Archway Station (Northern Line).
Upper Holloway has become a highly desirable residential area midway between Highgate and Highbury, enjoying the recreational amenities of Whittington Park and being only 4 miles from the West End.

Property

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

Accommodation

Ground Floor Shop
Internal Width    11'10"
Shop Depth        23'5"
Built Depth         33'6"
WC

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 3rd July 2006 at a fixed peppercorn ground rent.

Tenancy

The property is let on an effectively full repairing and insuring lease to S. Taklimi as a Barber for a term of 15 years from 29th September 2023 (renewal of a previous lease) at a current rent of £12,000 per annum exclusive rising to £13,000 p.a. in September 2024, £14,000 p.a. in September 2025 and £15,000 p.a. in September 2027.

Rent Reviews 2028 and 2033

Enquire about this lot:

Photo of John Barnett

John Barnett
020 8492 9449
jbarnett@barnettross.co.uk

Photo of Steven Grossman

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

*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.