Retail Unit let to British Heart Foundation until 2029
Important 2024 Rent Review outstanding
Major, Popular and Thriving London Suburb
Adjacent to the Palace Gardens Shopping Centre
Neighbouring occupiers include Starbucks, TSB Bank, Waterstones, McDonald's, Santander, Marks and Spencer, Pret a Manger, H&M, JD Sports and Savers.
Lot 15
Auction 27th March 2025
Rent £179,964 per Annum Exclusive
Status Available
Guide* £2,000,000 - £2,100,000
Sector Retail, Residential, Mixed Use
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
The property is situated in a prominent position on the south side of Church Street, 50 metres east of the main entrance of the major Palace Gardens Shopping Centre. Neighbouring occupiers include Starbucks, TSB Bank, Waterstones, McDonald's, Santander, Marks and Spencer, Pret a Manger, H&M, JD Sports and Savers.
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
The property is situated in a prominent position on the south side of Church Street, 50 metres east of the main entrance of the major Palace Gardens Shopping Centre. Neighbouring occupiers include Starbucks, TSB Bank, Waterstones, McDonald's, Santander, Marks and Spencer, Pret a Manger, H&M, JD Sports and Savers.
Tenure
Freehold.
Description
The property comprises an attractive mixed use building with a lock up retail unit on the ground floor with ancillary accommodation in the basement. The upper parts comprise 7 self contained residential flats. The flats have a separate access at the front of the property.
VAT
VAT is not applicable to this lot.
Completion Period
6 Week Completion
EPC
Retail unit = Band C. All 7 residential EPC's are compliant with the MEES Regulations. See legal pack for individual EPC rating.
Description
The property comprises an attractive mixed use building with a lock up retail unit on the ground floor with ancillary accommodation in the basement. The upper parts comprise 7 self contained residential flats. The flats have a separate access at the front of the property.
VAT
VAT is not applicable to this lot.
Completion Period
6 Week Completion
EPC
Retail unit = Band C. All 7 residential EPC's are compliant with the MEES Regulations. See legal pack for individual EPC rating.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review (Reversion)
Ground Basement
Retail Ancillary
181.03 83.14(1)
1949 895(1)
BRITISH HEART FOUNDATION (CRN: 00699547)(3)
10 years from 10/05/2019
£75,000
10/05/2024 (08/05/2029)
First to Third
1x Studio Flat 4 x 1 Bedroom Flat 2 x 2 Bedroom Flat
-
-
INDIVIDUALS
7 X Assured Shorthold Tenancies
£104,964 (2)
-
Total Approximate Commercial Floor Area
264.17
2844
£179, 964
(1) The above floor areas have been taken from the Valuation Office Agency https://www.tax.service.gov.uk/business-rates-find/valuations/start/6462668000 (2) As to the Residential Tenancies, each flat is let on a separate Assured Shorthold Tenancy, with a total annualised rent of £104,964 per annum exclusive for all 7 flats. (3) For the year ending 31st March 2024 British Heart Foundation (crn 00699547) reported a Total Funds of £138,300,000. (Source: Annual Report and Accounts as published at Companies House. 3/03/2025)
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.
