Auction House London

Lot 4

Mixed Use - Commercial Property 

514 High Road

Tottenham, London, N17 9SX

Withdrawn Prior to Auction

A Commercial & Residential Head Lease Investment Producing a Net Income of £29,400 per annum

Description

The property comprises a three storey mid terraced building arranged as a ground floor shop with a first & second floor maisonette above.

Tenure

Head Leasehold. The property is held on a 99 year head lease from February 1965 (thus approximately 46 years unexpired) subject to 21 yearly rent reviews at a rent of £35,600 per annum.

EPC Rating

F

Overflow

Location
The property is situated on an established shopping parade in the Noth London area of Tottenham. Nearby multiples include MacDonalds, Superdrug, Ladbrokes, Poundland and numerous local traders. Transport links are provided by Bruce Grove overground station.

Viewing Details

Open House Viewings:
Tuesday 27th March 12:00 - 12:30
Tuesday 3rd April 12:00 - 12:30

Bold Black Text

Current Rent Reserved £65,000 per annum. Net Income Under the Head Lease £29,400 per annum.

Accommodation & Tenancy Schedule

Property Floor Accommodation Terms of Tenancy Current Annual Income
Shop Ground Shop Area
Frontage 15'8"
GIA 750 sq ft
Let on an FRI lease to Specsavers Optical Superstores Ltd for a term of 10 years commencing 12th September 2017. Reviews every 5 years. £50,000
Flat A First & Second Two Bedroom Self-Contained Maisonette Let on a 12 month AST from 27th September 2017 at a rent of £1,250 pcm £15,000

Additional Fees and Disclaimer

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.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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