Freehold Retail and Residential Investment with Storage Yard with Development Potential (1)
Extensive Mixed Use Investment/Development Opportunity (Subject to Consents)
Two ground floor Shops, Advertising Right and Storage Yard and building.
Includes 6 self contained flats (2x two bed, 1x one bed and 3x studios)
Popular North-East London Location close to Stamford Hill Station
Lot 8
Auction 21st July 2021
Rent £108,320 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
5 miles north-east of Central London
Roads
A503 (Seven Sisters Road), A10,
A406 (North Circular), M25, A1, M1
Rail
Stamford Hill Overground (0.4 miles)
Manor House Underground
(Piccadilly Line, 0.5 miles)
Air
London City, London Heathrow,
London Stansted airport
Situation
Seven Sisters Road (A503) is a busy main arterial route in North London that runs between the A1 (Holloway Road) and A10 (Stamford Hill).
The location benefits from being situated approximately 4 miles north-west of Stratford and 4 miles north of City of London. The property is prominently situated on the north side of Seven Sisters Road, close to its junction with Eade Road. The Woodberry Wetlands and Finsbury Park are close by. The locality is seeing significant residential investment with major residential developments. The property is close to Stamford Hill Primary School and various independent shops, cafe's and restaurants.
Tenure
Freehold.
Location
Miles
5 miles north-east of Central London
Roads
A503 (Seven Sisters Road), A10,
A406 (North Circular), M25, A1, M1
Rail
Stamford Hill Overground (0.4 miles)
Manor House Underground
(Piccadilly Line, 0.5 miles)
Air
London City, London Heathrow,
London Stansted airport
Situation
Seven Sisters Road (A503) is a busy main arterial route in North London that runs between the A1 (Holloway Road) and A10 (Stamford Hill).
The location benefits from being situated approximately 4 miles north-west of Stratford and 4 miles north of City of London. The property is prominently situated on the north side of Seven Sisters Road, close to its junction with Eade Road. The Woodberry Wetlands and Finsbury Park are close by. The locality is seeing significant residential investment with major residential developments. The property is close to Stamford Hill Primary School and various independent shops, cafe's and restaurants.
Tenure
Freehold.
Description
The property comprises two three storey buildings each with lock up shops on the ground floor and self contained residential flats above. No. 341 accommodates a studio, a one bedroom and a two bedroom flat and No. 343 accommodates two studio flats and a two bedroom flat. The flats benefit from being accessed from Seven Sisters Road. The property also benefits from a rear yard and building with frontage to Tewksbury Road, together with an advertising right on the side elevation of No. 341.
The property comprises a substantial holding and may benefit from further development potential, subject to lease and consents.
The property comprises two three storey buildings each with lock up shops on the ground floor and self contained residential flats above. No. 341 accommodates a studio, a one bedroom and a two bedroom flat and No. 343 accommodates two studio flats and a two bedroom flat. The flats benefit from being accessed from Seven Sisters Road. The property also benefits from a rear yard and building with frontage to Tewksbury Road, together with an advertising right on the side elevation of No. 341.
The property comprises a substantial holding and may benefit from further development potential, subject to lease and consents.
Assured Shorthold Tenancy for a term expiring 03/02/2020 (holding over)
£9,620.04
Flat 2, 341
First
Residential (Studio)
38.74 sq m
(417 sq ft)
INDIVIDUALS
Assured Shorthold Tenancy 1 year from 20/04/2021
£9,900
Flat 3, 341
Second
Residential (2 bedrooms)
70.33 sq m
(757 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy 1 year from 21/08/2020
£14,400
2-4 Tewksbury Road (Rear of property)
Ground
Industrial
110.93 sq m
(1,194 sq ft) (plus yard)
INDIVIDUAL
125 years from 29/09/2001
£9,000 (2)
28/09/2126
341 side elevation
-
Advertising right
-
(-)
GLOW OUTDOOR LIMITED
7 years from 01/07/2017
£10,000
30/06/2024
343
Ground
Retail/Ancillary
25.92 sq m
(279 sq ft)
INDIVIDUAL t/a KB Classic Cut
5 years from 03/10/2018 (1)
£10,800 (1)
02/10/2023
Flat 1, 343
Basement
Residential (Studio)
54.35 sq m
(585 sq ft)
INDIVIDUALS
Assured Shorthold Tenancy 1 year from 23/10/2019 (holding over)
£10,400
Flat 2, 343
First
Residential (Studio)
37.62 sq m
(405 sq ft)
INDIVIDUALS
Assured Shorthold Tenancy 1 year from 23/09/2020
£10,500
Flat 3, 343
Second
Residential (2 bedrooms)
70.51 sq m
(759 sq ft)
INDIVIDUALS
Assured Shorthold Tenancy 1 year from 02/12/2019 (holding over)
£11,700
Total
482.92 sq m
(5,252 sq ft)
£108,320.04
(1) As to the leases to the Retail units, each lease is excluded from the security of tenure provisions of the Landlord and Tenant Act 1954 and provides for the rents to be paid monthly. (2) As to 2-4 Tewksbury Road, the lease provides for the rent payable to the Landlord to be calculated to 50% of the total sum of the Under Rent receivable by the tenant. See Schedule 4 of 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.
