Freehold Bank Investment in Popular North West London Suburb
Majority let to Barclays Bank Plc
Lease expires June 2027 (subject to option)
Branch refurbished in 2016
Rent agreed at 2019 Rent Review
Nearby occupiers include Tesco, Royal Mail postal sorting office, William Hill and Paddy Power
VAT-free investment in affluent North West London suburb between Golders Green and Mill Hill
Lot 2
Auction 12th February 2020
Rent £33,000 per Annum Exclusive
Status Sold
Price £705,000
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place Marble Arch London W1H 7TN
Property Information
Location
Miles
8 miles north-west of Central London
Roads
A1, A41, A406 (North Circular), M1
Rail
Hendon Central (Northern Line),
Hendon (Thameslink)
Air
London Heathrow, London Luton
Situation
Hendon is an affluent North West London suburb located between Golders Green and Mill Hill, approximately 8 miles north-west of Central London. Hendon benefits from excellent road and tube links with the A41 (Hendon Way) providing access to both Junctions 1 and 2 of the M1 as well as to the adjacent A406 (North Circular Road). Hendon Central Tube Station (Northern Line) is situated within half a mile of the property, and provides easy access to Central London and The City. The property is located on Brent Street at its junction with Brampton Grove, one of Hendon's finest residential roads. Nearby occupiers include Tesco, Royal Mail, William Hill, Paddy Power and a number of independent retailers.
Tenure
Freehold.
Location
Miles
8 miles north-west of Central London
Roads
A1, A41, A406 (North Circular), M1
Rail
Hendon Central (Northern Line),
Hendon (Thameslink)
Air
London Heathrow, London Luton
Situation
Hendon is an affluent North West London suburb located between Golders Green and Mill Hill, approximately 8 miles north-west of Central London. Hendon benefits from excellent road and tube links with the A41 (Hendon Way) providing access to both Junctions 1 and 2 of the M1 as well as to the adjacent A406 (North Circular Road). Hendon Central Tube Station (Northern Line) is situated within half a mile of the property, and provides easy access to Central London and The City. The property is located on Brent Street at its junction with Brampton Grove, one of Hendon's finest residential roads. Nearby occupiers include Tesco, Royal Mail, William Hill, Paddy Power and a number of independent retailers.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with ancillary accommodation on basement and part first floors. The remaining part first and entire second floor comprise self-contained residential flats let on long leases. The property benefits from car parking to the rear of the building.
VAT
VAT is not applicable to this lot.
EPC
Available from the legal pack at acuitus.co.uk
Description
The property comprises a ground floor banking hall with ancillary accommodation on basement and part first floors. The remaining part first and entire second floor comprise self-contained residential flats let on long leases. The property benefits from car parking to the rear of the building.
VAT
VAT is not applicable to this lot.
EPC
Available from the legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Floor
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground Basement Part First
Banking Hall Ancillary Kitchen/WC
129.13 sq m 45.52 sq m 24.99 sq m
(1,390 sq ft) (490 sq ft) (269 sq ft)
BARCLAYS BANK PLC (1)
20 years from 20/06/2007 (2)
£33,000
29/09/2024
Part First
Residential
-
(-)
INDIVIDUAL
125 years from 29/12/2004
Peppercorn
-
Second
Residential
-
(-)
TWINSECTRA LIMITED
125 years from 29/09/2004
Peppercorn
-
Total Commercial Area
199.64 sq m
(2,149 sq ft)
£33,000
(1) For the year ending 31st December 2018, Barclays Bank Plc reported a pre-tax profit of £1,286,000,000 and a total net worth of £46,382,000,000 (source: Experian Group 17/01/2020). (2) The lease provides for a tenant option to determine the lease on 20/06/2022.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
