Freehold Retail/Bank and Residential Building with Asset Management Opportunity
Substantial freehold building on the A40 adjacent to the Hoover Building
Comprises a triple fronted retail unit with
6 residential maisonettes on upper floors
Two maisonettes let on ASTs
Asset management/development potential (subject to consents)
VAT-free investment
Lot 10
Auction 26th March 2020
Rent £21,360 per Annum Exclusive
Status Sold
Price
Sector Development
Auction Venue The Montcalm Hotel 2 Wallenberg Place Marble Arch London W1H 7TN
On behalf of a Major Bank
Property Information
Location
Miles
10 miles north-west of Central London
Roads
A40, M4 (Junction 2), M25 (Junction 16)
Rail
Perivale Underground (Central Line)
Air
Heathrow Airport
Situation
Perivale is a busy and popular suburb of the London Borough of Ealing. The property occupies a prominent position, set back from the A40, adjacent to the landmark Hoover Building. Perivale Underground is a five minute walk away, which is well connected by the Central Line, providing access to Oxford Circus in approximately 28 minutes. The Hoover building has been converted to provide 66 luxury apartments with a Tesco superstore and Costa Coffee at ground floor level. Other nearby occupiers include Royal Nawaab restaurant and banqueting suites, Premier Inn, Mylett Arms (Greene King pub and carvery) and BP service station with M&S Simply Food.
Tenure
Freehold.
Location
Miles
10 miles north-west of Central London
Roads
A40, M4 (Junction 2), M25 (Junction 16)
Rail
Perivale Underground (Central Line)
Air
Heathrow Airport
Situation
Perivale is a busy and popular suburb of the London Borough of Ealing. The property occupies a prominent position, set back from the A40, adjacent to the landmark Hoover Building. Perivale Underground is a five minute walk away, which is well connected by the Central Line, providing access to Oxford Circus in approximately 28 minutes. The Hoover building has been converted to provide 66 luxury apartments with a Tesco superstore and Costa Coffee at ground floor level. Other nearby occupiers include Royal Nawaab restaurant and banqueting suites, Premier Inn, Mylett Arms (Greene King pub and carvery) and BP service station with M&S Simply Food.
Tenure
Freehold.
Description
The property comprises a triple fronted ground floor retail unit (former bank) which benefits from return frontage, together with six self-contained one bedroom maisonettes arranged over first and second floors. Each maisonette comprises two rooms, a kitchen and bathroom and also benefits from patio areas to the rear at first and second floor levels. Photographs of the residential accommodation can be provided upon request.
VAT
VAT is not applicable to this lot.
EPC
Available at acuitus.co.uk
Description
The property comprises a triple fronted ground floor retail unit (former bank) which benefits from return frontage, together with six self-contained one bedroom maisonettes arranged over first and second floors. Each maisonette comprises two rooms, a kitchen and bathroom and also benefits from patio areas to the rear at first and second floor levels. Photographs of the residential accommodation can be provided upon request.
VAT
VAT is not applicable to this lot.
EPC
Available at acuitus.co.uk
Tenancy & Accommodation
Unit
Floor
Use
Gross Internal Floor Areas (Approx)
Tenant
Term
Rent p.a.x
3
Ground
Retail (former bank)
217.29 sq m
(2,339 sq ft)
VACANT POSSESSION
1a
First
Residential
40 sq m
(430 sq ft)
VACANT POSSESSION
2a
First
Residential
45 sq m
(484 sq ft)
VACANT POSSESSION
3a
First
Residential
45 sq m
(484 sq ft)
INDIVIDUALS
6 month AST from 10/10/2013 (1)
£10,080
1b
Second
Residential
40 sq m
(430 sq ft)
VACANT POSSESSION
2b
Second
Residential
45 sq m
(484 sq ft)
INDIVIDUALS
12 month AST from 13/09/2014 (1)
£11,280
3b
Second
Residential
45 sq m
(484 sq ft)
VACANT POSSESSION
Total
477.29 sq m
(5,135 sq ft)
21,360 (With Vacant Possessionof 4,167 sq ft)
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.
