Retail let to Iceland Foods Limited until 2022 (no breaks)
The tenant, as Iceland and former Bejam, have been in occupation for over 40 years
Prominent frontage to the busy High Road (A1000)
Nearby occupiers include Santander, Budgens, Post Office and NatWest
Lot 5
Auction 27th March 2014
Rent £100,980 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Supermarket/Convenience
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
5.5 miles north of Central London
1.5 miles north of Highgate
2.5 miles north of Hampstead
Roads
High Road (A100), A1, North Circular (A406)
Rail
East Finchley Underground Station (Northern Line)
Air
London Heathrow Airport, London Luton Airport, London Stansted
Situation
East Finchley is an affluent and densely populated North London suburb. The property is prominently situated on the west side of the busy High Road (A1000) close to its junction with East End Road and Beresford Road. Neighbouring occupiers include Santander, Budgens, Post Office and NatWest.
Tenure
Long Leasehold. Long Leasehold. Held for a term of 99 years from 25th March 1972 until 2071 at a current rent of £30,857.66 per annum exclusive subject to 33 yearly reviews.
Location
Miles
5.5 miles north of Central London
1.5 miles north of Highgate
2.5 miles north of Hampstead
Roads
High Road (A100), A1, North Circular (A406)
Rail
East Finchley Underground Station (Northern Line)
Air
London Heathrow Airport, London Luton Airport, London Stansted
Situation
East Finchley is an affluent and densely populated North London suburb. The property is prominently situated on the west side of the busy High Road (A1000) close to its junction with East End Road and Beresford Road. Neighbouring occupiers include Santander, Budgens, Post Office and NatWest.
Tenure
Long Leasehold. Long Leasehold. Held for a term of 99 years from 25th March 1972 until 2071 at a current rent of £30,857.66 per annum exclusive subject to 33 yearly reviews.
Description
The property comprises a ground floor retail unit with six residential flats on the first and second floors. The property benefits from rear customer access and 18 car parking spaces.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with six residential flats on the first and second floors. The property benefits from rear customer access and 18 car parking spaces.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversions
Ground
Retail/Ancillary
468.30 sq m
(5,041 sq ft)
ICELAND FOODS LIMITED (1)
10 years from 01/01/2012
£100,500
2022
First/Second
6 x Residential Flats
Not Measured
INDIVIDUALS
99 years from 25/03/1972 until 2071
£480
2071
Totals
468.30 sq m
(5,041 sq ft)
£100,980
(1) For the year ending 29/03/2013, Iceland Foods Limited reported a turnover of £2,604,669,000, pre-tax profits of £188,146,000 and a total net worth of £516,857,000. (Source: www.riskdisk.com 20/02/2014)
