Let to Sainsbury’s Supermarkets Ltd on a new 15 year lease (subject to option)
5 yearly Open Market rental reviews
Busy and popular suburb of North London
Nearby occupiers include Ladbrokes, Paddy Power, William Hill
Six Week Completion Period Available
Lot 32
Auction 18th October 2012
Rent £70,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Supermarket/Convenience
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
2.5 miles east of Muswell Hill. 2 miles north-east of Hampstead Heath, 5.5 miles north of the City of London
Roads
A1, A10, A105, A406 (North Circular)
Rail
Wood Green Underground (Piccadilly), Turnpike Lane Underground (Piccadilly), Alexander Palace Rail
Air
London City, London Heathrow, London Luton, London Stansted
Situation
Wood Green is a popular North London suburb and a major North London Retail Centre that benefits from strong rail, tube and road links that is located close to Turnpike Lane. The property is situated in a prominent corner position on the south of Lordship Lane at the junction of Great Cambridge Road. Nearby occupiers include Paddy Power, Ladbrokes and William Hill amongst a mix of local occupiers.
Tenure
Freehold.
Location
Miles
2.5 miles east of Muswell Hill. 2 miles north-east of Hampstead Heath, 5.5 miles north of the City of London
Roads
A1, A10, A105, A406 (North Circular)
Rail
Wood Green Underground (Piccadilly), Turnpike Lane Underground (Piccadilly), Alexander Palace Rail
Air
London City, London Heathrow, London Luton, London Stansted
Situation
Wood Green is a popular North London suburb and a major North London Retail Centre that benefits from strong rail, tube and road links that is located close to Turnpike Lane. The property is situated in a prominent corner position on the south of Lordship Lane at the junction of Great Cambridge Road. Nearby occupiers include Paddy Power, Ladbrokes and William Hill amongst a mix of local occupiers.
Tenure
Freehold.
Description
The property comprises a prominent ground floor retail unit benefiting from a significant frontage.
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 prominent ground floor retail unit benefiting from a significant frontage.
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)
Tenant
Term
Rent p.a.x
Reviews
Ground
Retail
319.95 sq m
(3,444 sq ft)
SAINSBURY’SSUPERMARKETS LTD (1)
15 years from 16/07/2012 until 15/07/2027 on a full repairing and insuring lease (2)
£70,000 (3)
16th July 2017 and 2022
Totals
319.95 sq m
(3,444 sq ft)
£70,000 (3)
(1) For the year ending 19th March 2011, Sainsbury’s Supermarkets Ltd reported a turnover of £21,100,000,000, pre-tax profits of £775,000,000 and a net worth of £3,920,000,000. (Source: www.riskdisk.com 24/02/2012) (2)The lease provides for a tenant’s option to determine on the tenth year of the term subject to at least 6 months notice. (3)Under the terms of the lease the rent commencement date is the 16th July 2013. The Seller will pay the buyer rent that would have been payable from the completion date to 16th July 2013. Therefore, the property will produce £70,000 per annum exclusive from completion of the sale.
