202-208 Regents Park Road Finchley London N3 3HP

202-208 Regents Park Road
Finchley
London
N3 3HP

Freehold Restaurant Investment

Let to Ask Restaurants Ltd (guaranteed by Ask Central Limited) on a 25 year lease until June 2029
Located on the A598 within the established North London suburb
Future development potential on upper floors (subject to consent)
Within close proximity of Finchley Central Underground Station (Northern Line)

Lot
11
Auction
9th July 2014
Rent
£115,250 per Annum Exclusive
Status
Sold
Price
£1,975,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Restaurant Investment

Let to Ask Restaurants Ltd (guaranteed by Ask Central Limited) on a 25 year lease until June 2029
Located on the A598 within the established North London suburb
Future development potential on upper floors (subject to consent)
Within close proximity of Finchley Central Underground Station (Northern Line)

Lot 11
Auction 9th July 2014
Rent £115,250 per Annum Exclusive
Status Sold
Price £1,975,000
Sector
Leisure
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 6 miles north of the West End, 7 miles north-west of The City of London
Roads: A406, A598, M25, M1
Rail: Finchley Central Underground (Northern Line)
Air: Heathrow International Airport

Situation

Finchley is an affluent North London suburb some 6 miles north of central London providing easy links to the M1 and M25. The property is situated in a parade of shops on the eastern side of the busy Regents Park Road (A598) close to Finchley Central Station.

Tenure

Freehold.

Location

Miles: 6 miles north of the West End, 7 miles north-west of The City of London
Roads: A406, A598, M25, M1
Rail: Finchley Central Underground (Northern Line)
Air: Heathrow International Airport

Situation

Tenure

Freehold.

Description

The property comprises a restaurant with kitchen/office accommodation on the ground floor and further self-contained office accommodation on the first floor accessed from Regents Park Road. The property benefits from rear access via a service road which also gives access to the rear parking and loading areas of the other occupiers along the parade.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is 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	Reviews
Ground First	Restaurant Offices	199.15 sq m 183.95 sq m	(2,144 sq ft) (1,980 sq ft)	ASK RESTAURANTS LTD (1) guaranteed by Ask Central Ltd (2) (3)	25 years from 24/06/2004 until 23/06/2029 on a full repairing and insuring lease	£115,250	24/06/2019 and 5 yearly thereafter
Totals		383.10 sq m	(4,124 sq ft)			£115,250

(1) For the year ending 30/06/2013, Ask Restaurants Limited reported a turnover of £193,000,000, pre-tax profits of £3,890,000 and a total net worth of £141,000,000. (Source: www.riskdisk.com 12/07/2014)
(2) The lease is subject to a guarantor that is Ask Central Limited. For the year ending 30/06/2013, the company reported a pre-tax profit of £20,570,000 and a net worth of £560,270,000.
(3) The first floor office accommodation has been sublet.