Lot 16
    238 Stamford Hill
    London, N16 6TT
    Sold for £1,850,000.
     
    Number 1
    A Commercial and Office Investment Comprising Two Shops with First Floor Offices and Two Containers. Both Shops and the Offices are Let Producing a Combined Income of £85,110 per annum. Offered with Planning Permission (Along with No. 240) to Erect a Second Floor to Provide a Further Three Flats (Two x Two Beds and One x Three Beds).

    Description

    The property comprises a mid terrace ground floor shop with office accommodation to the first floor. To the rear of the of the property is a second shop which is accessed via Egerton Road. The offices are also accessed via this entrance. The property benefits from a flat roof.

    Location

    The property is situated on an established parade in the heart of Stamford Hill. Numerous multiples occupy space within the immediate area including Domino's, Sainsburys and Nat West. Transport links are provided by Stamford Hill rail station

    Tenure (2nd Column)

    Freehold

    Planning (2nd Column)

    Hackney London Borough Council granted the following permission on 30th March 2012 (Ref: 2010/0951) to encompass both 238 and 240 Stamford Hill: "Erection of a part two, part three storey side extension together with the erection of an additional floor at second floor level and single storey front extension and cantilevered first and second floor above; provision of 3 X 3 - bed units and 2 X 2 - bed units, cycle stores, lift and refuse store; new floor space for existing commercial and retail units and alterations to Stamford Hill and Egerton Road elevations."

    Viewing Details

    Tuesday 22nd July 14:00-14:30

    Addendum

    Amended Guide Price: £1,500,000+

    Accommodation & Tenancy Schedule

    Property Floor Accommodation Lessee Lease Terms Current
    Annual Rent
    Notes
    238 Stamford Hill Ground Shop William Hill Organisation Limited 25 year FRI lease from March 1992 expiring in March 2017 £35,000 Reviews every 5 years
    238 Stamford Hill First Offices Mr & Mrs Feldman t/a Mosdor Estates FRI Lease for 10 years from 6th June 2000 (holding over) £36,850
    Rear of 238 Stamford Hill (accessed via Egerton Gardens) Ground Shop Mr N Tager t/a Mazel Trading known as Royal Kids Clothes Shop FRI lease expiring in March 2017 £10,400
    Container 1 Mosdor Estates Let on a licence at a rent of £25 per week £1,300
    Container 2 Mr Segal Let on a licence at a rent of £30 per week £1,560
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    Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

    Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

    Guides are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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