Retail let to Coffee Kahawa Limited t/a Costa Coffee until 2024
Includes a shop and 4 self-contained Flats
Prominent corner location on A5
Long term potential residential development at the rear (subject to consents)
Close to Burnt Oak Underground Station (Northern Line)
Neighbouring occupiers include Iceland foods, Ladbrokes, Savers, Poundland and an eclectic mix of local traders
Lot 13
Auction 10th December 2020
Rent £87,800 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
10 miles north of Central London, 7 miles south of Watford, 1.5 miles west of Mill Hill Broadway
Roads
A5, A1, A41, M1, M40, M25
Rail
Burnt Oak Underground Station (Northern Line)
Air
London Heathrow Airport
Situation
Burnt Oak, in the London Borough of Barnet, is 10 miles north of Central London and 1 mile south of Edgware. The property is located in a mixed residential/commercial area, in a prominent location on Burnt Oak Broadway (A5), at its junction with The Highlands, some 400 metres west of Burnt Oak Underground Station (Northern Line). Neighbouring occupiers include Iceland foods, Ladbrokes, Savers, Poundland and an eclectic mix of local traders.
Tenure
Freehold.
Location
Miles
10 miles north of Central London, 7 miles south of Watford, 1.5 miles west of Mill Hill Broadway
Roads
A5, A1, A41, M1, M40, M25
Rail
Burnt Oak Underground Station (Northern Line)
Air
London Heathrow Airport
Situation
Burnt Oak, in the London Borough of Barnet, is 10 miles north of Central London and 1 mile south of Edgware. The property is located in a mixed residential/commercial area, in a prominent location on Burnt Oak Broadway (A5), at its junction with The Highlands, some 400 metres west of Burnt Oak Underground Station (Northern Line). Neighbouring occupiers include Iceland foods, Ladbrokes, Savers, Poundland and an eclectic mix of local traders.
Tenure
Freehold.
Description
The property comprises a substantial double fronted shop comprising ground floor retail accommodation and part first floor ancillary accommodation. The first and second floors comprises of four self contained 2 bedroom flats accessed from the rear of the property. The property benefits from a return frontage on to Barnfield Road.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Description
The property comprises a substantial double fronted shop comprising ground floor retail accommodation and part first floor ancillary accommodation. The first and second floors comprises of four self contained 2 bedroom flats accessed from the rear of the property. The property benefits from a return frontage on to Barnfield Road.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
146-148
Ground Part First
Retail Ancillary
211.38 sq m 17.61 sq m
(2,275 sq ft) (189 sq ft)
COFFEE KAHAWA LIMITED t/a Costa Coffee (1)
10 years from 13/12/2014
£35,000 (1)
12/12/2024
146A
First
Residential
3 room flat
INDIVIDUALS
2 years from 15/03/2019
£13,200
14/03/2021
146B
First
Residential
3 room flat
INDIVIDUAL
1 year from 21/02/2020
£12,600
20/02/2021
148B
Second
Residential
3 room flat
INDIVIDUAL
1 year from 05/11/2020
£13,200
04/11/2021
148A
Second
Residential
3 room flat
INDIVIDUAL
1 year from 15/11/2020
£13,800
14/11/2021
Total
228.99 sq m
(2,464 sq ft)
£87,800
(1) As to the lease of the ground floor to COFFEE KAHAWA LIMITED t/a Costa Coffee the October 2019 rent review was recently settled at £35,000pax from £30,000 p.a.x.
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.
