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Lot 10 Click here for addendum

Freehold Commercial/Residential Investment – Restaurant & 3 Flats – Gross Yield 8%
On behalf of the Administrator of an Estate
6 Week Completion

Situation

Located at the junction with Friern Barnet Road and Colney Hatch Lane in this well established parade, with nearby multiple retailers including Co-Op, Tesco Express, Paddy Power and a Post Office as well as a host of local retailers, all serving the surrounding residential area.
Friern Barnet lies midway between Whetstone and Muswell Hill and being approx. ¾ mile to New Southgate Rail Station and 1/2 mile to the North Circular Road (A406).

Property

Comprising:

35-36 Queens Parade - An end of terrace single storey Ground Floor Restaurant with Bar Area (see Note).
1 Priory Villas - An end of terrace building comprising 3 × 2 Bed Self-Contained Flats together with 3 Parking Spaces and a Rear Store Room.

Note: There may be potential for future redevelopment of the Restaurant to include possible Residential Use and additional storeys, subject to obtaining possession and the necessary consents.

VAT is applicable to this Lot

FREEHOLD

*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.

35–36 Queens Parade, Friern Barnet Road and 1 Priory Villas, Colney Hatch Lane, Friern Barnet, London N11 3DB