PLEASE NOTE: PRE-REGISTERED BIDDING IS REQUIRED FOR THIS LOT. DOWNLOAD FORM & ID REQUIREMENTS HERE.
Let to 5 Retail Tenants (including Sharps Bedrooms and North London Hospice) and 8 office tenants
Affluent North London suburb
Potential to convert upper floors to residential subject to leases and consents
Located within 250 metres of Finchley Central Underground Station
Approximately 1,576.49 sq m (16,969 sq ft)
Lot 15
Auction 9th July 2014
Rent £382,931 per Annum Exclusive
Status Sold
Price £5,785,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Nationwide Building Society
Property Information
Location
Miles
2 miles north of Temple Fortune
6 miles north of London’s West End
Roads
A406, A598, M25, M1
Rail
Finchley Central Underground (Northern line)
Air
London Heathrow Airport
Situation
Finchley is an affluent North London suburb, some 6 miles north of central London providing easy communication links to the M1 and M25. The property is prominently situated on the east side of the busy Ballards Lane at its junction with Albert Place. Neighbouring occupiers include Tesco, HSBC, Greggs, William Hill and Barclays. Finchley Central Underground Station is some 250 metres away.
Tenure
Freehold.
Location
Miles
2 miles north of Temple Fortune
6 miles north of London’s West End
Roads
A406, A598, M25, M1
Rail
Finchley Central Underground (Northern line)
Air
London Heathrow Airport
Situation
Finchley is an affluent North London suburb, some 6 miles north of central London providing easy communication links to the M1 and M25. The property is prominently situated on the east side of the busy Ballards Lane at its junction with Albert Place. Neighbouring occupiers include Tesco, HSBC, Greggs, William Hill and Barclays. Finchley Central Underground Station is some 250 metres away.
Tenure
Freehold.
Description
The property comprises a substantial self-contained retail and office building with frontages to both Ballards Lane and Albert Place. The ground floor consists of five retail units with self-contained office accommodation on the first, second and third floors. The property benefits from a passenger lift, undercroft and rear car parking.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial self-contained retail and office building with frontages to both Ballards Lane and Albert Place. The ground floor consists of five retail units with self-contained office accommodation on the first, second and third floors. The property benefits from a passenger lift, undercroft and rear car parking.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Address
Tenant
Term & Commencement
Lease End Date
Passing Rent pa
Floor Area
Parking
11 Ballards Lane
MOROCCAN & LITHUANIAN HOUSE LTD (t/a Shisha)
25 years from 11.07.2009 with a rent review in 07.2014 and 5 yearly thereafter
11.07.2034
£25,000
75.39 sq m
(811 sq ft)
1
13 Ballards Lane
AMPLIFON LTD (t/a Amplifon)
15 years from 16.08.2006 with a rent review in 08.2016
15.08.2021
£27,000
78.86 sq m
(849 sq ft)
1
15 Ballards Lane
NORTH LONDON HOSPICE (t/a North London Hospice)
10 years from 11.10.2004
10.10.2014
£26,000
78.76 sq m
(848 sq ft)
1
17 Ballards Lane
LIBERTY FLIGHTS RETAIL (NORTH WEST) LTD (t/a Liberty Flights Electronic Cigarettes)
2 years from 11.04.2014
10.04.2016
£23,500 (1)
80.89 sq m
(871 sq ft)
1
19 Ballards Lane
SHARPS BEDROOMS LTD (t/a Sharps)
15 years from 05.04.2007 with a rent review and tenant break option in 04.2017
04.04.2022
£58,000
135.65 sq m
(1,460 sq ft)
2
Part First Floor
DAVID CONWAY, JONATHAN INGRAM, JOHN CHART (Practicing as BACI LLP Solicitors)
5 years from 26.03.2014 with a tenant break option in 12.2016 subject to 5 months’ notice
25.03.2019
£52,500
298.60 sq m
(3,214 sq ft)
5
Part First Floor
ACCIDENT SUPPORT LTD
10 years from 22.12.2006
21.12.2016
£31,500
152.84 sq m
(1,645 sq ft)
3
Part Second Floor
BIZSPACE LTD
10 years from 06.07.2007
05.07.2017
£38,054
193.02 sq m
(2,078 sq ft)
6
Part Second Floor
FUTURE MEDICINE LTD
16 years from 24.06.2006 with a rent review in 06.2017 and a tenant break option in 06.2017
23.06.2022
£47,607
226.99 sq m
(2,443 sq ft)
5
Part Third Floor
EUSTON M LTD
Term of years from 13.02.2014
29.09.2016
£11,900
58.53 sq m
(630 sq ft)
4
Part Third Floor
PROGRAMS4MEDIA LTD
5 years from 11.02.2014 with a mutual option to break in 02.2017 and rolling thereafter, subject to 6 months’ notice
10.02.2019
£10,120
50.17 sq m
(540 sq ft)
1
Part Third Floor
COLIN D HARRIS LTD
5 years from 13.02.2014 with a tenant option to break, on 11.02.2017
12.02.2019
£12,250
50.17 sq m
(540 sq ft)
1
Part Third Floor
RADHA INVESTMENTS LTD
From 13.02.2014 with a rent review in 05.2017 and a mutual break option in 05.2017
21.05.2022
£12,000
46.45 sq m
(500 sq ft)
1
Part Third Floor
VACANT
-
-
-
50.17 sq m
(540 sq ft)
Advertising Hoarding
J.C.DECAUX UK LIMITED
15 years from 06.03.2008 with a rent review in 09.2013 (outstanding)
05.03.2023
£6,000
-
(-)
0
VP Basement Parking
DX NETWORK SERVICES
1 year from 14.12.12
13.12.2013
£1,500
-
(-)
0
Totals
£382,931
1,576.49 sq m
(16,969 sq ft)
32
(1) The seller is holding a £7,050 gross rental deposit.
