Nearby occupiers include Tesco Express, Domino’s, Pizza Hut, William Hill and a mix of independent retailers,restaurants and estate agents.
Lot 2
Auction 16th February 2023
Rent £33,700 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail, Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
8 miles north of City of London
Roads
A109, A111, North Circular Road (A406), A1000
Rail
Southgate Underground Station (Piccadilly Line)
Air
London Luton Airport, London Stansted Airport
Situation
Southgate is a popular and affluent North London suburb situated some 8 miles north of the City of London. The property is situated in a prominent position on the busy Hampden Square, a very busy roundabout junction and a neighbourhood retailing centre consisting of three separate retail parades. Nearby occupiers include Tesco Express, Domino’s, Pizza Hut, William Hill and a number of independent retailers including restaurants, estate agents and retail shops.
Tenure
Freehold.
Location
Miles
8 miles north of City of London
Roads
A109, A111, North Circular Road (A406), A1000
Rail
Southgate Underground Station (Piccadilly Line)
Air
London Luton Airport, London Stansted Airport
Situation
Southgate is a popular and affluent North London suburb situated some 8 miles north of the City of London. The property is situated in a prominent position on the busy Hampden Square, a very busy roundabout junction and a neighbourhood retailing centre consisting of three separate retail parades. Nearby occupiers include Tesco Express, Domino’s, Pizza Hut, William Hill and a number of independent retailers including restaurants, estate agents and retail shops.
Tenure
Freehold.
Description
The property is a handsome mid terrace mixed use building comprising a ground floor retail unit and a self contained 3 x bedroom maisonette on the first and second floors. The maisonette is accessed from the rear of the property. The property benefits from a storage shed at the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Retail: C. Residential :D
Description
The property is a handsome mid terrace mixed use building comprising a ground floor retail unit and a self contained 3 x bedroom maisonette on the first and second floors. The maisonette is accessed from the rear of the property. The property benefits from a storage shed at the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Retail: C. Residential :D
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Reviews (Reversions)
Ground
Retail
65.12
(701)
INDIVIDUAL ON ASSIGNMENT FROM M & C HAIR AND BEAUTY LIMITED (CRN: 11300826) (t/a House of Hair) (1)
20 years from 24/06/2018 until 2038
£17,500
14/05/2025
Ground
Storgage Unit
32.52
(350)
-
-
Vacant possession (4)
First/Second
Residential - 3 bedroom maisonette
-
-
AN INDIVIDUAL
Let on Assured Shorthold Tenancy Agreement
£16,200 (2)
Total Approximate Commercial Floor Area
97.64
(1,051) (3)
£33,700
(1) The retail unit is let for a term of 20 years from 24th August 2018 until 2038 by virtue of a Reversionary lease for a term of 10 years from 24th June 2028 until 2038 and the original lease fro a term of 10 years from 24th June 2018 until 23rd June 2028. The Seller is holding a rent deposit of £7,750. (2) As to the residential maisonette, the rent stated above has been annualised. (3) The floor areas stated above are those published by the Valuation Office Agency at https://www.tax.service.gov.uk/business-rates-find/valuations/start/318423053 (4) The rear storage unit has been previously let for a rent of £2,500 per annum exclusive.
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.
