NW10 Community Centre/Banqueting Suite with Gym/Martial Arts Studio close to A40/A406
Prominent NW10 Location close to the A40/A406 Hanger Lane Junction
Close to Underground stations of Park Royal (Piccadilly Line) and Hanger Lane (Central Line)
Gym & Martial Arts Studio let until 2031 & Community Centre/Banqueting Suite let until 2030 (subject to option)
Modern building of approx. 922.29 sq m (9,977 sq ft)
Future Development/Conversion Potential (subject to consents)
Lot 6
Auction 31st March 2022
Rent £60,000 per Annum Exclusive
Status Sold Prior
Price
Sector Leisure
Auction Venue Live Streamed Auction
Property Information
Location
Miles
1.5 miles south of Wembley, 1.5 miles north-east of Ealing, 6miles north-west of Marble Arch
Roads
A404, A406, A40, M1
Rail
Hangar Lane, Park Royal & Alperton Underground Stations
Air
London Heathrow Airport
Situation
Park Royal is one of the best recognised industrial/business park areas in London although now provides some prestigious residential developments too. The property is located approximately 6 miles north-west of Central London. The area is well connected by road with the A40 and A406 being easily accessible and both providing access to the wider UK motorway network. Park Royal Underground Station (Piccadilly Line) and Hanger Lane Underground Station (Central Line) are close by within 10 minutes walk.
The property is situated on the east side of Twyford Abbey Road at its junction with Bodiam Way 650 metres north east of the A40/A406 (North Circular) junction at Hanger Lane. The property is located in a predominately residential area close to the Lakeside residential developments.
Tenure
Long Leasehold. Term of 250 years from 01/01/2006 at a ground rent of £500, doubling every 25 years.
Location
Miles
1.5 miles south of Wembley, 1.5 miles north-east of Ealing, 6miles north-west of Marble Arch
Roads
A404, A406, A40, M1
Rail
Hangar Lane, Park Royal & Alperton Underground Stations
Air
London Heathrow Airport
Situation
Park Royal is one of the best recognised industrial/business park areas in London although now provides some prestigious residential developments too. The property is located approximately 6 miles north-west of Central London. The area is well connected by road with the A40 and A406 being easily accessible and both providing access to the wider UK motorway network. Park Royal Underground Station (Piccadilly Line) and Hanger Lane Underground Station (Central Line) are close by within 10 minutes walk.
The property is situated on the east side of Twyford Abbey Road at its junction with Bodiam Way 650 metres north east of the A40/A406 (North Circular) junction at Hanger Lane. The property is located in a predominately residential area close to the Lakeside residential developments.
Tenure
Long Leasehold. Term of 250 years from 01/01/2006 at a ground rent of £500, doubling every 25 years.
Description
The property comprises 3 storeys to provide a ground floor gym, martial arts studio together with a community centre/banqueting suite on first & second floors. There is a right to park 13 cars.
VAT
VAT is applicable to this lot.
Planning
The property may have long term residential or alternative use potential, subject to the existing leases and obtaining all the relevant consents. All enquires should be referred to The London Borough of Brent. (www.brent.gov.uk)
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises 3 storeys to provide a ground floor gym, martial arts studio together with a community centre/banqueting suite on first & second floors. There is a right to park 13 cars.
VAT
VAT is applicable to this lot.
Planning
The property may have long term residential or alternative use potential, subject to the existing leases and obtaining all the relevant consents. All enquires should be referred to The London Borough of Brent. (www.brent.gov.uk)
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx sq m)
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Rent Reviews
Ground
Gym/Martial Arts Studio
353.77 sq m
(3,808 sq ft)
SF GYMS LIMITED (4)
10 years from 03/12/2021 expiring 02/12/2031 (1)
£40,000 (2)
03/12/2026
First Second
Community Centre/Banqueting Suite Community Centre/Banqueting Suite
292.24 sq m 276.28 sq m
(3,145 sq ft) (2,973 sq ft)
INDIVIDUALS t/a Crystals of London (3)
15 years from 12/11/2015 expiring 11/11/2030
£20,000
18/09/2017 18/09/2022 18/09/2027
Total
922.29 sq m (5)
(9,977 sq ft) (5)
£60,000 (2)
(1) The lease is subject to a tenant option to determine on 02/12/2026 and Rent Deposit held of £24,000 (2) The tenant of the ground floor has a rent free period running until 03/09/2022 and then pays £20,000 pa from 03/09/2022 until 02/09/2023. From 03/09/2023 the rent is £40,000 pa and subject to a rent review on 03/12/2026. The Vendor has agreed to top up the completion monies so that the ground floor will effectively produce £40,000 per annum from completion of the sale. (3) https://www.crystalsoflondon.com/ and https://www.romanianculturalcentre.org.uk/listing/crystals-of-london-restaurant/ (4) https://londonshootfighters.com/ (5) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk)
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.
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