Property Auctions 11/Jul/2013 | 556-572 Kingsbury Road and Units 1-22 Kingsbury Arcade, Kingsbury, London, NW9 9HL

Retail and Residential Parade Investment

A Substantial Unbroken Parade of 9 retail units, an additional 8 arcade units and 7 self-contained residential flats
Prominent position on the busy Kingsbury Road
Popular North-West London Suburb
Directly opposite Kingsbury Underground Station
Nearby occupiers include HSBC, Boots the Chemist, Pizza Hut and Barclays
Six Week Completion

Lot 19
Auction 11th July 2013
Rent £280,220 per Annum Exclusive
Status Sold
Price £1,510,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of Joint LPA Receivers Edward Symmons

Property Information

Location

Miles: 3 miles east of Harrow, 3.5 miles north of Wembley, 8.5 miles north-west of Central London
Roads: A4140, Edgware Road (A5), A406 North Circular Road,; M1 (Junctions 1 & 2)
Rail: Kingsbury Underground Station (Jubilee Line)
Air: London Heathrow Airport

Situation

Kingsbury is a popular North-West London suburb. The property is situated in a prominent corner location on the north side of Kingsbury Road at its junction with Berkeley Road. The property is opposite Kingsbury Underground Station. Nearby occupiers include HSBC, Boots the Chemist, Pizza Hut and Barclays.

Tenure

Long Leasehold. Long Leasehold. Held from London Underground Ltd for a term of 99 years from 24/06/1933 until 2032 at a rent reserved of £250 per annum exclusive. Purchasers attention is drawn to the determination clause on page 10 of the lease.

Location

Miles: 3 miles east of Harrow, 3.5 miles north of Wembley, 8.5 miles north-west of Central London
Roads: A4140, Edgware Road (A5), A406 North Circular Road,; M1 (Junctions 1 & 2)
Rail: Kingsbury Underground Station (Jubilee Line)
Air: London Heathrow Airport

Situation

Kingsbury is a popular North-West London suburb. The property is situated in a prominent corner location on the north side of Kingsbury Road at its junction with Berkeley Road. The property is opposite Kingsbury Underground Station. Nearby occupiers include HSBC, Boots the Chemist, Pizza Hut and Barclays.

Tenure

Long Leasehold. Long Leasehold. Held from London Underground Ltd for a term of 99 years from 24/06/1933 until 2032 at a rent reserved of £250 per annum exclusive. Purchasers attention is drawn to the determination clause on page 10 of the lease.

Description

The Retail Parade fronting Kingsbury Road comprises 9 retail units on the ground floors and 7 self-contained 2 bedroom residential flats on the first floors. Access to the flats is via a staircase at the side of the parade. The Retail Arcade predominantly fronting Berkeley Road comprises 8 lock-up ground floor retail units.

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

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 Retail Parade fronting Kingsbury Road comprises 9 retail units on the ground floors and 7 self-contained 2 bedroom residential flats on the first floors. Access to the flats is via a staircase at the side of the parade. The Retail Arcade predominantly fronting Berkeley Road comprises 8 lock-up ground floor retail units.

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

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

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
Kingsbury Road
556	Ground	Retail	53.00 sq m	(570 sq ft)	MOHAMMED ZUBAIR KHAWAJA	15 years from 19/12/2006 until 2021	£16,000	24/12/2016
558	Ground	Retail	40.00 sq m	(430 sq ft)	B JABARKHIL	15 years from 24/06/2004 until 2019	£15,600	25/06/2016
560	Ground	Retail	41.50 sq m	(447 sq ft)	HBC FOODS LIMITED (t/a Kishna)	15 years from 02/06/2004 until 2019	£13,000	25/03/2015
562	Ground	Retail	42.00 sq m	(452 sq ft)	J MORJARIA	6 years from 01/12/2012 until 2018	£16,000	01/12/2015
564	Ground	Retail	42.00 sq m	(452 sq ft)	KHAFAGJ ALAG t/a AJ Saward Limited	15 years from 01/07/2010 until 2025	£15,000	01/07/2015
566 566a	Ground First	Retail Ancillary	84.50 sq m 74.50 sq m	(910 sq ft) (802 sq ft)	J INMADAR	9 years from 10/03/2011 until 2020	£13,750	10/03/2014
568	Ground	Retail			J INMADAR	12 years from 25/03/2005 until 2017	£13,000	(2017)
570	Ground	Retail	40.50 sq m	(436 sq ft)	PRINCES ELECTRONICS LIMITED	8 years from 07/11/2010 until 2018	£21,000	07/11/2014
572	Ground	Retail	31.00 sq m	(334 sq ft)	MR & MRS ADAMJEE	16 years from 29/09/2000 until 2016	£11,000
556A	First	Residential	67.00 sq m GIA	(721 sq ft) GIA	INDIVIDUAL	50 years from 24/06/1982 until 2032	£100
558A	First	Residential	69.00 sq m GIA	(743 sq ft) GIA	ADOPTPLAN PROPERTIES	49 years from 10/06/1983 until 2032	£25
560A	First	Residential	67.00 sq m GIA	(721 sq ft) GIA	INDIVIDUAL	1 year from 22/09/2012 until 2013	£14,040
562A	First	Residential	67.00 sq m GIA	(721 sq ft) GIA	INDIVIDUAL	1 year from 01/12/2012 until 2013	£14,040
564A	First	Residential	68.00 sq m GIA	(732 sq ft) GIA	INDIVIDUAL	132 years from 21/06/1900 until 2032	£25
568A	First	Residential	67.00 sq m GIA	(721 sq ft) GIA	INDIVIDUAL	1 year from 01/12/2012 until 2013	£12,000
570A	First	Residential	67.00 sq m GIA	(721 sq ft) GIA	INDIVIDUAL	1 year from 01/12/2012 until 2013	£14,040
Kingsbury Arcade
1-5	Ground	Retail	30.50 sq m	(328 sq ft)	AR RASHID & A WARIS	12 years from 24/06/1996 until 2008 HOLDING OVER	£18,600
6-8	Ground	Retail	46.00 sq m	(495 sq ft)	B SINGH	15 years 09/09/2008 until 2023	£15,000
9-10	Ground	Retail	31.00 sq m	(334 sq ft)	AVCO TRADING LTD	8 years from 25/03/2008 until 2016	£10,800
11	Ground	Retail	12.50 sq m	(135 sq ft)	S R UMMA & M T KUTTI	8 years from 22/06/2010 until 2018	£6,000
12-13	Ground	Retail	29.00 sq m	(312 sq ft)	DAS BITE	12 years from 01/10/2000 until 2022	£8,500	01/10/2014
14-15	Ground	Retail	31.50 sq m	(339 sq ft)	AK MANSURIA	12 years from 24/06/1999 until 2011 HOLDING OVER	£9,300
16-17	Ground	Retail	32.00 sq m	(344 sq ft)	B SINGH	15 years from 17/04/2003 until 2018	£8,400
18-22	Ground	Retail	42.00 sq m	(452 sq ft)	JOANNE SAFIRACOU/ SOMEONE SPECIAL	15 years from 30/09/2003	£15,000
Totals			1,175.50 sq m	(12,653 sq ft))			£280,220