Virtual Freehold Retail Investment
Virtual Freehold Retail Investment
The property is situated in a highly visible and strong trading position on the busy junction of Kilburn High Road (A5) and Willesden Lane (A4403). Kilburn High Road forms parts of the A5 which is the major arterial route from the London’s West End through North West London to Edgware.
The locality is a popular residential suburb with eclectic demographic.
Virtual Freehold. Virtual Freehold. Held for a term of 999 years from completion of the sale at a peppercorn rent.
The property is situated in a highly visible and strong trading position on the busy junction of Kilburn High Road (A5) and Willesden Lane (A4403). Kilburn High Road forms parts of the A5 which is the major arterial route from the London’s West End through North West London to Edgware.
The locality is a popular residential suburb with eclectic demographic.
Virtual Freehold. Virtual Freehold. Held for a term of 999 years from completion of the sale at a peppercorn rent.
The property comprises retail accommodation on the ground floor with ancillary accommodation in the basement.
The adjoining property is being sold as Lot 36.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises retail accommodation on the ground floor with ancillary accommodation in the basement.
The adjoining property is being sold as Lot 36.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground Basement |
Retail Ancillary |
94.90 sq m 80.40 sq m |
(1,022 sq ft) (865 sq ft) |
LADBROKES BETTING AND GAMING LIMITED until 2022 (1) | 10 years from 25th December 2012 until 2022 on a full repairing and insuring lease | £60,000 (2) | 2017 |
| Totals | 175.30 sq m |
(1,887 sq ft) |
£60,000 | ||||
(1) For the year ending 31st December 2012, Ladbrokes Betting & Gaming reported a turnover of £770,850,000, pre-tax profits of £172,106,000 and a total net worth of £983,843,000. (Source: www.riskdisk.com 8/11/2013)
(2) The lease provides for the tenant to pay a reduced rent of £58,000 per annum exclusive until 25th December 2015. The seller will pay the buyer the difference between £58,000 per annum exclusive and £60,000 per annum exclusive from completion of the sale until 25th November 2015. Therefore the property will produce £60,000 per annum exclusive from completion of the sale.
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