Part Let to Asquith Nurseries Limited until 2022 (subject to options)
Includes six residential flats (one flat to be let)
Redevelopment potential (subject to consents)
900 metres west of Finsbury Park
Opposite Crouch Hill Railway Station
Lot 35
Auction 22nd February 2011
Rent £52,138 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Residential
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
900 metres west of Finsbury Park
2 miles north of Islington
4 miles north of the City of London
Roads
A1, A503, A10, A406
Rail
Crouch Hill Rail (London Overground)
Air
City Airport
Situation
The property is situated in a popular residential location on the west side of Crouch Hill (A1201) close to the junction with Trinder Road. Crouch Hill is located between the A10 and the A1 which are the main arterial routes through North London to the City and West End. Crouch Hill Railway Station is opposite the property.
Tenure
Freehold.
Location
Miles
900 metres west of Finsbury Park
2 miles north of Islington
4 miles north of the City of London
Roads
A1, A503, A10, A406
Rail
Crouch Hill Rail (London Overground)
Air
City Airport
Situation
The property is situated in a popular residential location on the west side of Crouch Hill (A1201) close to the junction with Trinder Road. Crouch Hill is located between the A10 and the A1 which are the main arterial routes through North London to the City and West End. Crouch Hill Railway Station is opposite the property.
Tenure
Freehold.
Description
The property is a substantial and attractive period building comprising a DAY NURSERY on the basement and ground floor with THREE STUDIO FLATS on the first floor and THREE STUDIO FLATS on the second floor. The property may be suitable for redevelopment of the upper parts subject to gaining the necessary planning consents.
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 is a substantial and attractive period building comprising a DAY NURSERY on the basement and ground floor with THREE STUDIO FLATS on the first floor and THREE STUDIO FLATS on the second floor. The property may be suitable for redevelopment of the upper parts subject to gaining the necessary planning consents.
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
Reviews
Basement Ground
Day Nursery Day Nursery
51.55 sq m 69.29 sq m
(555 sq ft) (746 sq ft)
ASQUITH NURSERIES LIMITED (1)
25 years from 01/03/1997 until 2022 on a full repairing and insuring lease (1)(2)
£18,250
2012 and 2017
First
Flat 1 (Studio)
18.58 sq m
(200 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy, currently holding over
£6,720
Flat 2 (Studio)
27.12 sq m
(292 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy, currently holding over
£7,228
Flat 3 (Studio)
18.58 sq m
(200 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy, currently holding over
£7,200
Second
Flat 4 (Studio)
18.58 sq m
(200 sq ft)
VACANT
Vacant Possession
-
Flat 5 (Studio)
27.12 sq m
(292 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy, currently holding over
£6,760
Flat 6 (Studio)
18.58 sq m
(200 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy, currently holding over
£5,980
Totals
249.40 sq m
(2,685 sq ft)
£52,138
(1) Asquith Nurseries Ltd is the UK’s leading provider of premium childcare and education for the under 5s. The company have more than 80 day nurseries and créches across the country. (2) The lease provides for a tenant’s option to determine the lease on the 15th and 20th anniversaries of the term on giving six months’ written notice.
