Freehold London Restaurant and Residential Investment
Entirely Let to Sun GE Limited (t/a The Good Earth)
Tenant in Occupation Since 1981
The Good Earth Trades from 7 Affluent London Locations and Surrey
Comprises Restaurant and 2 flats.
First Time on the Market for Nearly 50 Years
Nearby Occupiers Include GAIL's Bakery, Pizza Express, Prezzo, Londis and Boots
VAT-Free Investment
Lot 8
Auction 9th July 2024
Rent £115,000 per Annum Exclusive
Status Available
Guide* £1,600,000
Sector Restaurant
Auction Venue Live Streamed Auction
Property Information
Location
Miles
10 miles north-west of Central London, 3 miles north of the north circular, 5 miles south of the M25
Roads
A1, M1, M25
Rail
Mill Hill Broadway (Thameslink)
Air
London Luton, London Heathrow
Situation
Mill Hill, a popular and affluent North London suburb, is located approximately 10 miles north-west of Central London. The property is prominently situated on The Broadway, Mill Hill's main shopping destination, just off the junction with Mill Hill Circus Roundabout. Nearby occupiers include GAIL's Bakery, Pizza Express, Prezzo, Londis, Boots and an eclectic mix of local retailers.
Tenure
Freehold.
Location
Miles
10 miles north-west of Central London, 3 miles north of the north circular, 5 miles south of the M25
Roads
A1, M1, M25
Rail
Mill Hill Broadway (Thameslink)
Air
London Luton, London Heathrow
Situation
Mill Hill, a popular and affluent North London suburb, is located approximately 10 miles north-west of Central London. The property is prominently situated on The Broadway, Mill Hill's main shopping destination, just off the junction with Mill Hill Circus Roundabout. Nearby occupiers include GAIL's Bakery, Pizza Express, Prezzo, Londis, Boots and an eclectic mix of local retailers.
Tenure
Freehold.
Description
The property comprises a restaurant on the ground and first floors and 2 x Three Bedroom self-contained residential flats on the second floor. The property also benefits from approximately 8 car parking spaces to the rear.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a restaurant on the ground and first floors and 2 x Three Bedroom self-contained residential flats on the second floor. The property also benefits from approximately 8 car parking spaces to the rear.
VAT
VAT is not applicable to this lot.
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.
Reversion
Ground First Second (Flat 16 Clarence Court) Second (Flat 18 Clarence Court)
SUN GE LIMITED (CRN: 00906175) (t/a The Good Earth) (3)
20 years from 01/11/2006
£115,000
31/10/2026
Total Approximate Floor Area
390.90
(4,207)
£115,000
(1) The floor areas stated above have been taken from the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/12281001000) (2) The residential floor areas have been measured on an Gross Internal Area (GIA) basis (3) The Good Earth is a popular chain of Chinese restaurants with sites in Esher, Wandsworth, Knightsbridge, Mill Hill, Swiss Cottage, Battersea, Richmond and Wimbledon (www.goodearthgroup.co.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.
