251/251a & 251b East Barnet Road East Barnet London EN4 8SS

251/251a & 251b East Barnet Road
East Barnet
London
EN4 8SS

Freehold London Retail and Residential Investment with Development Potential

Comprises a Café, Indian Take-Away and a Flat
Commercial leases expire in 2038 and 2029 (no breaks)
Café tenant in occupation since 2006
Lapsed Planning Permission to add further x2 bed flat on second floor
Prominent Corner Location with nearby occupiers including Co-op, Costa, Aldi and numerous independent retailers and restaurants

Lot
2
Auction
12th July 2022
Rent
£45,050 per Annum Exclusive
Status
Sold
Price
£715,000
Auction Venue
Live Streamed Auction

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Freehold London Retail and Residential Investment with Development Potential

Comprises a Café, Indian Take-Away and a Flat
Commercial leases expire in 2038 and 2029 (no breaks)
Café tenant in occupation since 2006
Lapsed Planning Permission to add further x2 bed flat on second floor
Prominent Corner Location with nearby occupiers including Co-op, Costa, Aldi and numerous independent retailers and restaurants

Lot 2
Auction 12th July 2022
Rent £45,050 per Annum Exclusive
Status Sold
Price £715,000
Sector
High Street Retail, Residential
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 2 miles south-west of Cockfosters, 3 miles north of Finchley Central
Roads: A100, A406, M1, M25
Rail: New Barnet Rail, High Barnet Tube (Northern Line)
Air: Heathrow Airport

Situation

The property is situated on East Barnet Road at its junction with Barons Gate and close to its junction with Cat Hill and Church Hill Road in a mixed commercial and residential area. Nearby occupiers include Co-op, Costa, Aldi and numerous independent retailers and restaurants.

Tenure

Freehold.

Location

Miles: 2 miles south-west of Cockfosters, 3 miles north of Finchley Central
Roads: A100, A406, M1, M25
Rail: New Barnet Rail, High Barnet Tube (Northern Line)
Air: Heathrow Airport

Situation

Tenure

Freehold.

Description

The property comprises a café and Indian take-away restaurant arranged on the ground floor and a separately accessed 2/3 bed flat on the first floor, accessed from Barons Gate.

VAT

VAT is not applicable to this lot.

Planning

Planning Consent was obtained in 2015 to add a second floor 2 bed flat (Ref: 15/07699/FUL) Please contact: London Borough of Barnet - www.barnet.gov.uk - t: 020 8359 3000

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a café and Indian take-away restaurant arranged on the ground floor and a separately accessed 2/3 bed flat on the first floor, accessed from Barons Gate.

VAT

VAT is not applicable to this lot.

Planning

Planning Consent was obtained in 2015 to add a second floor 2 bed flat (Ref: 15/07699/FUL) Please contact: London Borough of Barnet - www.barnet.gov.uk - t: 020 8359 3000

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Address	Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
251 East Barnet Road	Ground	Café	62.99	(678)	M.DEGIRMAN (t/a Barnet Pride Café) (1)	Term of years from 25/12/1988 expiring on 24/12/2038	£18,000	25/12/2024 and at 4 yearly thereafter
251b East Barnet Road	Ground	Take-Away	29.45	(317)	S.RASHID (t/a Anuraag Tandoori Restaurant) (2)	10 years from 08/06/2019	£9,500 (3)	08/06/2024
251a East Barnet Road	First	2/3 bed flat	-	-	AN INDIVIDUAL (4)	Assured Tenancy at £1,350 pcm	£17,550	-
Total Commercial Area			92.44	(995)			£45,050

(1) A Rent Deposit of £7,580 is held
(2) A Rent Deposit of £5,051.45 is held
(3) The contractual rent under the terms of the lease is £10,000 per annum. The tenant benefits from a small rent concession of £9,500 per annum whilst the tenant remains in occupation or until the rent review date in June 2024, whichever is earlier.
(4) Occupied within the same family since 1950

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.