City Airport, Heathrow Airport, Luton Airport, Stansted Airport
Situation
Barnet is a popular North London suburb and the commercial hub for the Borough of Barnet. The High Street provides access to the M25 (Junction 23) and also benefits from close proximity to High Barnet Underground (Northern Line). The property occupies a prime position on High Street, opposite The Spires Shopping Centre which houses occupiers including Costa Coffee, WH Smith, Dorothy Perkins and Waterstones. Other nearby occupiers include Boots, Starbucks and Holland & Barrett.
City Airport, Heathrow Airport, Luton Airport, Stansted Airport
Situation
Barnet is a popular North London suburb and the commercial hub for the Borough of Barnet. The High Street provides access to the M25 (Junction 23) and also benefits from close proximity to High Barnet Underground (Northern Line). The property occupies a prime position on High Street, opposite The Spires Shopping Centre which houses occupiers including Costa Coffee, WH Smith, Dorothy Perkins and Waterstones. Other nearby occupiers include Boots, Starbucks and Holland & Barrett.
Tenure
Freehold.
Description
The property comprises a ground floor convenience store which benefits from loading to the rear. The first and second floors comprise 3 x one bedroom flats which can be accessed from the High Street. The property benefits from a large yard to the rear with car parking for approximately 4 cars and an access way off High Street.
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 ground floor convenience store which benefits from loading to the rear. The first and second floors comprise 3 x one bedroom flats which can be accessed from the High Street. The property benefits from a large yard to the rear with car parking for approximately 4 cars and an access way off High Street.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
144-146
Ground
Convenience Store
542 sq m
(5,841 sq ft)
SAINSBURY’S SUPERMARKETS LIMITED (1) t/a Sainsbury’s Local
5 years from 29/09/2017 until 28/09/2022 on a full repairing and insuring lease (2)
£92,500
144A - Flat 1
First
One Bedroom Flat
40 sq m
(430 sq ft)
INDIVIDUAL
1 year & 1 month AST from 03/08/2017 until 02/09/2018 (3)
£12,480 (4)
144A - Flat 2
First & Second
One Bedroom Maisonette
54 sq m
(581 sq ft)
INDIVIDUAL
1 year AST from 16/06/2017 until 15/06/2018
£12,552 (4)
144A - Flat 3
First
One Bedroom Flat
50.6 sq m
(544 sq ft)
INDIVIDUAL
1 year AST from 27/06/2017 until 26/06/2018
£13,260 (4)
Right of Way
-
-
-
-
BOOTS PROPERTIES PLC
License for approximately 15 years from 30/08/2001 until 28/09/2026 (5)
£4,938
Total
686.6 sq m
(7,396 sq ft)
£135,730
(1) For the year ending 12th March 2016, Sainsbury's Supermarkets Ltd reported a turnover of £23,168,000,000, pre-tax profits of £406,000,000 and a total net worth of £4,458,000,000 (Source: Experian Group 20/04/2017). (2) Sainsburys Supermarkets Limited are currently holding over under their previous lease. Heads of terms have been agreed for a new 5 year lease, inside the Landlord and Tenant Act 1954, at a passing rent of £92,500 p.a.x and it is envisaged that this will be completed prior to the auction. Please refer to auctioneers for an update. (3) The Assured Shorthold Tenancy provides a mutual option to determine after the first six months of the term, subject to a notice period. (4) The rent has been annualised. (5) The lease provides upward only rent reviews linked to the Retail Price Index.
Contacts
Seller's Solicitors
Seddons Solicitors 5 Portman Square London W1H 6HT
