Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
On the instructions of J Pitt and B Moon acting as Joint Fixed Charge Receivers, BNP Paribas Real Estate
Property Information
Location
Miles
15 miles west of Central London, 5 miles north of Heathrow, 7 miles east of Slough
Roads
A40, A312, M4 (Junction 3) M25 (Junction 15)
Rail
Hayes & Harlington Rail Station (direct to London Paddington approx., 18 mins)
Air
London Heathrow
Situation
The property is situated in a prominent corner position at the junction of Pump Lane and Station Road, Hayes' prime pedestrianised retail thoroughfare.
Tenure
Long Leasehold. Held from The Mayor & Burgesses of The London Borough of Hillingdon for a term of 99 years from 25th March 1979 at a current rent of £5,875 p.a.x. The rent is reviewed five yearly to 2.5% of the rack rental value of the property (excluding the car park and the Civic Hall). The 2011 rent review is currently outstanding.
Location
Miles
15 miles west of Central London, 5 miles north of Heathrow, 7 miles east of Slough
Roads
A40, A312, M4 (Junction 3) M25 (Junction 15)
Rail
Hayes & Harlington Rail Station (direct to London Paddington approx., 18 mins)
Air
London Heathrow
Situation
The property is situated in a prominent corner position at the junction of Pump Lane and Station Road, Hayes' prime pedestrianised retail thoroughfare.
Tenure
Long Leasehold. Held from The Mayor & Burgesses of The London Borough of Hillingdon for a term of 99 years from 25th March 1979 at a current rent of £5,875 p.a.x. The rent is reviewed five yearly to 2.5% of the rack rental value of the property (excluding the car park and the Civic Hall). The 2011 rent review is currently outstanding.
Description
The property comprises a substantial retail unit on ground and first floors and also includes a Civic Hall to the north of the building. Additionally the property benefits from a rooftop car park (approx. 110 spaces) and service access for the retail unit via a road off Pump Lane.
NB This property is being marketed for sale on behalf of Joint Law of Property Act Receivers excluding any title guarantees, warranties or indemnities. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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 retail unit on ground and first floors and also includes a Civic Hall to the north of the building. Additionally the property benefits from a rooftop car park (approx. 110 spaces) and service access for the retail unit via a road off Pump Lane.
NB This property is being marketed for sale on behalf of Joint Law of Property Act Receivers excluding any title guarantees, warranties or indemnities. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
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 (gross)
Reviews/(Reversion)
Ground Ground
First
Sales/Ancillary Covered Loading Areas Ancillary/Staff
2,449.31 sq m 148.64 sq m
674.45 sq m
(26,365 sq ft) (1,600 sq ft)
(7,260 sq ft)
WILKINSON HARDWARE STORES LTD (1)
20 years from 10/07/1998 on a full repairing lease
£230,000
10/07/2013 (10/07 2018)
Ground & First Roof
Civic Hall and Car Park
Not Measured
Not Measured
THE MAJOR & BURGESSES OF THE LONDON BOROUGH OF HILLINGDON
99 years (less 3 days) from 25/03/1979
£0.05
(21/03/2078)
Totals
3,272.40 sq m
(35,225 sq ft)
£230,000.05
(1) For the year ending 29th January 2010, Wilkinson Hardware Stores Ltd reported a turnover of £1,556,210,000, pre-tax profits of £64,951,000 and a total net worth of £212,451,000. (Source: www.riskdisk.com 15/08/2011)
Contacts
Seller's Solicitors
Addleshaw Goddard LLP Milton Gate, 60 Chiswell Street London EC1Y 4AG
