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Lot 2

Freehold Commercial/Residential Investment – Take-away & 5 Room Flat
In same ownership for over 40 years
6 Week Completion

Situation

Located close to the junction with Hay Lane within this well established retail parade amongst a variety of occupiers including Costa, Betfred, Paddy Power, McDonald's Drive-thru, a Ford and Kia Dealerships along with a number of independent retailers, all serving the surrounding residential population.
Colindale Underground Station (Northern Line) lies approx. 3/4 mile distant and the area is served by numerous bus routes.
Colindale is a popular and sought after north-west London suburb currently benefitting from a major regeneration building programme approx. 8 miles from central London and with easy access to the M1 (Junctions 1 & 2) and the A406 North Circular Road.

Property

A mid terraced building comprising a Ground Floor Take-Away with separate rear access via a service road to a Self-Contained Flat on the first and second floors with uPVC double glazing. In addition, the property includes a rear hardstanding area for parking.

Accommodation

Ground Floor Take-Away
Gross Frontage 16'11"
Internal Width 15'6"
Shop Depth 34'3"
Built Depth 40'11"
WC
First & Second Floor Flat
5 Rooms, Kitchen, Shower Room/WC, plus sep. WC
(GIA of Flat Approx. 928 sq ft)

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to L. Zhou as a Chinese Take-Away for a term of 20 years from 29th September 2017 (renewal of a previous lease) at a rent of £22,000 per annum exclusive (see Note 1).

Rent Reviews 2027 and 2032.

There is a £9,848.02 Rent Deposit held.

Note 1: The tenant is currently paying £19,500 p.a. with an agreed increase to £22,000 p.a. on 1st April 2024.

Note 2: Nos. 273 & 275 Edgware Road are also being offered for sale in this auction - see Lots 3 & 4

*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.

271 Edgware Road, Colindale, London NW9 6NB