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

Lot 3 Click here for addendum

Freehold Commercial Investment – Gross Yield 11%
On behalf of Executors
6 Week Completion

Situation

Located on this established development off Tolpits Lane approx. 2½ miles from both Watford and Rickmansworth town centres which provide Mainline Railway services and Metropolitan Underground links to London.
Occupiers on the development include Travis Perkins and Howdens.
Watford lies approximately 20 miles north-west of central London with easy access to the Motorway Network via the M1 (Junction 5).

Property

An end of terrace Industrial Unit on ground and mezzanine floors which includes a concertina loading door. In addition, the property includes 1 Parking Space.

Accommodation

Ground Floor
GIA Approx. 966 sq ft¹ incl. WC
Mezzanine Floor
GIA Approx. 696 sq ft¹
_____________________

Total GIA Approx. 1,662 sq ft¹

¹Not internally inspected by Barnett Ross. Areas supplied by Vendor.

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to S. D. Desmond (see Tenant Profile) for a term of 5 years from 24th June 2024 (in occupation for approx. 35 years) at a current rent of £22,000 per annum exclusive.

Tenant's Break 2027

Tenant Profile

The tenant's business is called Multi-Electronics offering a sub-contract manufacturing service from production assembly to the testing and packaging of completed products for the electronics industry.
Visit www.multielectronics.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.

Unit 26 Peerglow Industrial Estate, Olds Approach, Watford, Hertfordshire WD18 9SR