Retail Unit let to Greggs Plc until 2026 (no breaks)
2021 Tenant Option to Break NOT exercised
Rear access and Car parking
Affluent and Popular London commuter Town
Neighbouring Occupiers include Savers, Iceland Food, Subway, TUI and Halifax
Lot 6
Auction 16th June 2021
Rent £25,100 per Annum Exclusive
Status Sold
Price £450,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
3.5 miles north of Edgware
12 miles north-west of Central London
Roads
M25, M1, A1
Rail
Elstree & Borehamwood ThamesLink station
Air
London Luton, London Heathrow
Situation
The property is prominently located in a strong trading position on the north side of the busy Shenley Road, approximately 500 metres from Elstree & Borehamwood Station. Neighbouring Occupiers include Savers, Iceland Food, Subway, TUI and Halifax.
Tenure
Freehold.
Location
Miles
3.5 miles north of Edgware
12 miles north-west of Central London
Roads
M25, M1, A1
Rail
Elstree & Borehamwood ThamesLink station
Air
London Luton, London Heathrow
Situation
The property is prominently located in a strong trading position on the north side of the busy Shenley Road, approximately 500 metres from Elstree & Borehamwood Station. Neighbouring Occupiers include Savers, Iceland Food, Subway, TUI and Halifax.
Tenure
Freehold.
Description
The property comprises a ground floor shop and a self contained maisonette on the first and second floors. The property benefits from access and parking at the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Description
The property comprises a ground floor shop and a self contained maisonette on the first and second floors. The property benefits from access and parking at the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground
Retail
96.99 sq m
(1,044 sq ft) (1)
GREGGS PLC (2)
10 years from 14/07/2016 (3)
£25,000
14/07/2021 (13/07/2026)
First and Second
Residential
Maisonette
INDIVIDUAL
125 years from 25/12/1998
£100
(24/12/2123)
Total CommercialFloor Area
96.99 sq m
(1,044 sq ft)
£25,100
(1) The above floor areas include a small extension built over the rear yard, which was constructed by the tenant. (2) For the year ending 31st December 2020, Greggs Plc reported a turnover of £811,300,000, pre-tax profits of negative £13,700,000 and shareholder funds of £321,600,000 (Source: NorthRow 20/05/2021). (3) The lease provides for a tenant option to determine the lease on 14/07/2021 on serving not less then 6 months written notice. The Seller has NOT received a notice from the tenant to exercise the tenant option to determine the lease.
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.
