Comprises a Double Fronted Commercial Unit, 2 x 3 Bed Flats and 2 x 1 Bed Flats
Commercial Unit Let to TSB Bank PLC until 2030 (no breaks)
Trading as TSB since at Least 1988 (4)
Self Contained Flats Recently Refurbished
Popular and Thriving London Suburb
Adjacent to the Palace Gardens Shopping Centre
Neighbouring Occupiers include Waitrose, Marks and Spencer, Starbucks, McDonald's, Pret A Manger, JD Sports, H&M and Waterstones
Lot 9
Auction 9th July 2024
Rent £135,400 per Annum Exclusive With 2 Vacant Flats to Be Let
Status Available
Guide* £2,500,000
Sector High Street Retail/Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
11 miles north of the City of London
Roads
A110, A10, A406 (North Circular Road), M25
Rail
Enfield Town Railway Station
Air
London Stansted, London City, London Heathrow, London Luton
Situation
Enfield is a popular and thriving London suburb. The property is situated on the south side of the busy Church Street, adjacent to the main entrance of the major Palace Gardens Shopping Centre. Neighbouring occupiers include Waitrose, Marks and Spencer, Starbucks, McDonald's, Pret A Manger, JD Sports, H&M and Waterstones.
Tenure
Freehold.
Location
Miles
11 miles north of the City of London
Roads
A110, A10, A406 (North Circular Road), M25
Rail
Enfield Town Railway Station
Air
London Stansted, London City, London Heathrow, London Luton
Situation
Enfield is a popular and thriving London suburb. The property is situated on the south side of the busy Church Street, adjacent to the main entrance of the major Palace Gardens Shopping Centre. Neighbouring occupiers include Waitrose, Marks and Spencer, Starbucks, McDonald's, Pret A Manger, JD Sports, H&M and Waterstones.
Tenure
Freehold.
Description
The property comprises a double fronted commercial unit on the ground and basement floors and 4 recently refurbished self-contained flats (2 x 3 bed and 2 x 1 bed) on the first, second and third floors. The flats are accessed from the rear of the property which is accessed through the entrance to the shopping centre.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a double fronted commercial unit on the ground and basement floors and 4 recently refurbished self-contained flats (2 x 3 bed and 2 x 1 bed) on the first, second and third floors. The flats are accessed from the rear of the property which is accessed through the entrance to the shopping centre.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review (Reversion)
Ground Basement
Bank Ancillary
224.24 74.43
(2,414) (801)
TSB BANK PLC (CRN: SC095237)(2)
Approximately 7 years from 18/09/2023 until 01/04/2030
£100,000
18/09/2028 (01/04/2030)
22a Church Street
1 x Bedroom Flat
-
(-)
AN INDIVIDUAL
Assured Shorthold Tenancy for 2 years from 13/05/2024
£15,000 (3)
(12/05/2026)
22b Church Street
3 x Bedroom Flat
-
(-)
AN INDIVIDUAL
Assured Shorthold Tenancy for 1 year from 20/05/2024
£20,400 (3)
19/05/2025
24a Church Street
1 x Bedroom Flat
-
(-)
VACANT POSSESSION
-
-
-
24b Church Street
3 x Bedroom Flat
-
(-)
VACANT POSSESSION
-
-
-
Total Approximate Commercial Floor Area
298.67
(3,215)
£135,400
(1) The above floor areas have been taken from the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/150241053) (2) For the year ending 31/12/2023, TSB Bank PLC (CRN:SC095237) reported a turnover of £2,098,000,000, a pre-tax profit of £235,500,000 and a net worth of £1,868,500,000 (source: Northrow 17/06/2024) (3) The above rents have been annualised (4) The unit has been occupied by either Lloyds TSB Bank PLC or TSB Bank PLC since at least 1988
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.
