Ground let to Baleday Limited t/a Cashino until November 2025 (no breaks)
Six bedroom residential maisonette on upper floors let on AST
Popular and busy North London suburb
Nearby occupiers include McDonald’s, Halifax, HSBC, O2, Clarks and Phones 4U
Lot 6
Auction 9th July 2014
Rent £85,078 per Annum Exclusive
Status Sold
Price £1,100,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Joint LPA Receivers
Property Information
Location
Miles
6.8 miles north of Charing Cross
Roads
A105, A504, A10
Rail
Wood Green Underground, Turnpike Lane Underground (Piccadilly Line)
Air
London City Airport
Situation
Wood Green is a busy North London suburb located some 6 miles north of the City Centre. The property is situated in a prominent location on the southern side of the busy High Road (A105) less than 100 metres from The Mall Shopping Centre which houses a 12 screen cinema and over 100 retailers including Boots, New Look, Next, Topshop and Primark.
Tenure
Freehold.
Location
Miles
6.8 miles north of Charing Cross
Roads
A105, A504, A10
Rail
Wood Green Underground, Turnpike Lane Underground (Piccadilly Line)
Air
London City Airport
Situation
Wood Green is a busy North London suburb located some 6 miles north of the City Centre. The property is situated in a prominent location on the southern side of the busy High Road (A105) less than 100 metres from The Mall Shopping Centre which houses a 12 screen cinema and over 100 retailers including Boots, New Look, Next, Topshop and Primark.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit currently used as an amusement arcade, with a six bedroom maisonette on the upper floors, accessed from the rear.
Six Week Completion
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
Viewings
There will be a block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Telephone: +44 (0)20 7034 4857.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit currently used as an amusement arcade, with a six bedroom maisonette on the upper floors, accessed from the rear.
Six Week Completion
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
Viewings
There will be a block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Telephone: +44 (0)20 7034 4857.
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
Review/(Reversion)
Ground
Retail
91.58 sq m
(986 sq ft)
BALEDAY LIMITED (1) t/a Cashino
13 years 5 months from 01/07/2012 until 30/11/2025 on a full repairing and insuring lease
£58,678
01/12/2020 (2)
First/ Second
Residential – Six Bedrooms
Not Measured
INDIVIDUAL
12 months AST from June 2014
£26,400
(June 2015)
Totals
91.58 sq m
(986 sq ft)
£85,078
(1) Baleday Limited is a wholly owned subsidiary of Praesepe Holdings Limited. Praesepe is the UK’s largest chain of adult gaming centres operating from a total of 170 adult gaming centres, bingo clubs and family entertainment centres in 100 towns and cities throughout Great Britain (Source: www.cashinogaming.com 13/06/2014) (2)For the purposes of clarification, the current rent of the retail unit is £51,360 p.a.x. rising to £58,678 in December 2015 and £67,039 p.a.x. in December 2020. The Seller has agreed to adjust the completion monies so that the property effectively produces £58,678 p.a.x. from completion of the sale.
Contacts
Seller's Solicitors
Wedlake Bell Solicitors 52 Bedford Row London WC1R 4LR
