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Lot 17 Click here for addendum

Commercial Investment
By order of Charity Trustees
6 Week Completion

Situation

Located close to the junction with Burnt Oak Broadway within this popular retail thoroughfare, amongst such multiple retailers as Ladbrokes and Subway along with a host of independent traders.
Burnt Oak Underground Station (Northern Line) is within close proximity.
Burnt Oak is a popular north-west London suburb located approx. 9 miles from central London with good road access to the M1 and M25 motorways.

Property

A mid terraced building comprising a Double Ground Floor Shop with Ancillary Accommodation on the first and second floors.
In addition, the property includes a forecourt and a goods lift that serves between ground and first floors. Also, there is rear access via Back Lane.

VAT is applicable to this Lot

Accommodation

Ground Floor Shop
Gross Frontage	39'0"
Internal Width	36'2"
Shop Depth	65'10"
Built Depth	76'7"
Sales/Store Area	Approx. 2,590 sq ft¹
First Floor Ancillary
Area	Approx. 2,042 sq ft¹
Second Floor Ancillary
Area	Approx. 615 sq ft¹
WCs
Total Area	Approx. 5,247 sq ft¹

¹Areas taken from VOA.

Tenure

Leasehold for a term of 99 years from 25th March 1926 expiring 24th March 2025 (thus having approx. 6 months unexpired) at a fixed ground rent of £40 p.a.

Tenancy

The entire property is let on a full repairing and insuring lease to Savers Health and Beauty Limited (having over 500 branches) (T/O for Y/E 30/12/03 £754.8m, Pre-Tax Profit £61.3m and Shareholders' Funds £142m) for a term from 5th June 2023 to 23rd March 2025 at a current rent of £65,000 per annum exclusive.

Note: The Freeholders (London Borough of Barnet) have indicated in a letter dated 1st December 2023 that they may consider selling the Freehold of this property.

*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.

9–11 Watling Avenue, Burnt Oak, Middlesex HA8 0LQ