Property Auctions 18/Oct/2018 | 108 Kilburn High Road, Kilburn, London, Greater London, NW6 6JH

Freehold Retail Investment with Potential (1)

Popular North West London suburb
Close to Kilburn High Road Overground Station
Entirely let to Palace Amusements (Kilburn) Limited until 2030 (no breaks)
Self-contained upper floors not presently used (1)
VAT-free investment

Lot 6
Auction 18th October 2018
Rent £95,000 per Annum Exclusive
Status Sold
Price £1,910,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Executors - First Time on the Market

Property Information

Location

Miles: 3 miles north of Central London, 1 mile south of West Hampstead, 1 mile north west of St John’s Wood
Roads: A5, A41, M1, A406
Rail: Kilburn High Road, Kilburn Park, Maida Vale, Swiss Cottage, St John’s Wood
Air: London Heathrow, London Gatwick and London Stansted Airports

Situation

Kilburn is a popular North West London suburb, 2.5 miles north of central London, 1 mile south-west of West Hampstead and 1.5 miles north-west of Regent’s Park. The area benefits from good communications being on the A5, some 2.5 miles south of the M1 motorway and the North Circular. Kilburn High Road, Brondesbury and West Hampstead Overground stations are all within a mile. Kilburn Park, Kilburn Station, Maida Vale and Swiss Cottage Underground stations are all within a mile. The property is located on the east side of Kilburn High Road (A5), between its junctions with Quex Road and Birchington Road. There are a number of bus stops located nearby. Occupiers close by include Poundland, Wenzels, Iceland, Sainsbury’s, Superdrug, Argos, Specsavers, Shoe Zone, McDonald’s, Betfred and TK Maxx.

Tenure

Freehold.

Location

Miles: 3 miles north of Central London, 1 mile south of West Hampstead, 1 mile north west of St John’s Wood
Roads: A5, A41, M1, A406
Rail: Kilburn High Road, Kilburn Park, Maida Vale, Swiss Cottage, St John’s Wood
Air: London Heathrow, London Gatwick and London Stansted Airports

Situation

Kilburn is a popular North West London suburb, 2.5 miles north of central London, 1 mile south-west of West Hampstead and 1.5 miles north-west of Regent’s Park. The area benefits from good communications being on the A5, some 2.5 miles south of the M1 motorway and the North Circular. Kilburn High Road, Brondesbury and West Hampstead Overground stations are all within a mile. Kilburn Park, Kilburn Station, Maida Vale and Swiss Cottage Underground stations are all within a mile. The property is located on the east side of Kilburn High Road (A5), between its junctions with Quex Road and Birchington Road. There are a number of bus stops located nearby. Occupiers close by include Poundland, Wenzels, Iceland, Sainsbury’s, Superdrug, Argos, Specsavers, Shoe Zone, McDonald’s, Betfred and TK Maxx.

Tenure

Freehold.

Description

The property comprises a ground floor shop together with staff/storage accommodation at basement level. The first, second and third floors are separately accessed from Kilburn High Road and are not presently used.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

C

Description

The property comprises a ground floor shop together with staff/storage accommodation at basement level. The first, second and third floors are separately accessed from Kilburn High Road and are not presently used.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

C

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground Basement First Second Third	Retail Ancillary Ancillary Ancillary Ancillary	160 sq m 48.16 sq m 57.78 sq m 50.7 sq m 55.5 sq m	(1,722 sq ft) (518 sq ft) (622 sq ft) (546 sq ft) (597 sq ft)	PALACE AMUSEMENTS (KILBURN) LIMITED guaranteed by Palace Amusements (Holdings) Limited t/a Palace Amusements (2)	20 years from 25th March 2010 on a full repairing and insuring lease.	£95,000 (3)	2020 and 2025
Total		372.14 sq m	(4,005 sq ft)			£95,000

(2) “Palace Amusements is part of the The Godden Gaming Organisation, which has been established in the leisure industry for over forty years. The Godden Gaming Organisation trades all its Adult Gaming Centres as Palace Amusements. It took its first shop over thirty years ago and expects to still be trading strongly 30 years hence. Currently operating from fifteen shops, with planning applications in for a further three, Palace Amusements plans to expand the brand to fifty stores by 2022” (Source:- www.goddengaming.org).
(3) Rent deposit held of £95,000.