FREEHOLD COMMERCIAL INVESTMENT PLUS GROUND RENT
Guide price: £330,000 - £350,000 *
Tuesday, 22nd May 2018 11:00am
Location & Description
A mid terrace three storey property comprising two ground floor shops with separate front access to two self-contained flats above. There are two rear parking spaces (one per shop) and a vehicular service road.
Occupying a prominent position within an established parade fronting the Mill Hill Circus roundabout, close to Pizza Express and numerous other multiple retailers on the Broadway. Mill Hill Broadway mainline station is within ½ mile.
Mill Hill is a popular suburb about 10 miles north west of central London and has good road access via the A1 and A41.
Ground Floor Shop (No. 139): 292 sq ft (27.1 sq m), WC and 1 parking space
Let on a repairing and insuring lease to Beah's Hair and Beauty (with guarantor) for 8 years from 25.03.2013 at £11,760 p.a. Rent deposit of £2,625 held.
Ground Floor Shop (No. 139a): 351 sq ft (32.6 sq m), WC and 1 parking space
Let on a repairing and insuring lease to Creative Clinic Communications Limited for 2 years from 21.09.2016 at £11,576.25 p.a. Rent deposit of £2,375 held. The provisions of sections 24-28 of the Landlord & Tenant Act 1954 (security of tenure) are excluded in relation to the tenancy. Tenant in occupation since 2006.
First Floor Flat (10 Clarence Court): Sold on a 125 year lease from 01.01.1987 at a current ground rent of £50 p.a. Second Floor Flat (12 Clarence Court): Sold on a 189 year lease from 29.09.1987 at a peppercorn.
EQUIVALENT TO £23,386.25 p.a.
No. 139: E & No. 139a: On application
- Freehold Investment
- Popular/Affluent North London Suburb
- Equivalent £23,386.25 p.a.
Sold for £405,000
The special conditions are NEW mainly as the lease to Creative Communications has been extended and there are references to Rent Deposit Deeds, rent deposits and a buyer's covenant (clauses 21 & 22).No. 139: Let to Beah's Hair and Beauty Ltd for 8 years from 13.05.2013. No. 139a: Lease extended to expire on 20.09.2019. Rolling tenant's break on 6 months' notice. No. 12: Term is 189 years from 29.09.1977.
* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.