Auction House London

Lot 15

 

53-55 Ballards Lane

Finchley, London, N3 1XP

£1,800,000+

Guide Price

A Well Located Redevelopment Opportunity Comprising a Pair of Mixed Use Buildings Currently Arranged to Provide Two Ground Floor Shops, a First Floor Office and a Rear Garage. Part Let Producing £55,500 per annum. Vacant Possession of the Garage. Offered with Planning Permission to Extend the Existing Buildings to Provide a Further Six Self-Contained Flats (4 x 1 Bed, 2 x 2 Bed) in Addition to the Existing Accommodation.

Description

Tenure

Freehold

Location

The properties are situated in the heart of Finchley Central on one of the main shopping parades. Numerous multiples are in occupation on Ballards Lane and the property is situated between Tesco and Halifax. The open spaces of Victoria Park are nearby. Transport links are provide by Finchley Central underground station (Northern line).


Planning (2nd Column)

A resolution to grant the following planning permission (ref: 15/02596/FUL) was agreed by the London Borough of Barnet on 23rd June 2015:
"Part single part three storey rear extension, with 2nd floor extension to no. 53 Ballards Lane, conversion to form a re-configured ground floor A1 and D1 units and 6 no. self contained flats over the 1st and 2nd floors."

Viewing Details

Sold prior

Accommodation & Tenancy Schedule

Property Floor Accommodation Tenancy Details Current Annual Rent
53 Ballards Lane Ground Shop Area Let on a FRI Lease to Kingsley Opticians Ltd from 21/06/2013 - 28/09/2015. A section 26 notice has been served for a new lease and a counter-notice opposing the new lease has been served on 17th June 2015. £18,000
55 Ballards Lane Ground Shop Area Let on a 5 year FRI Lease to Tronix Ltd from 09/09/2013 - 08/09/2018. Option to break at 28/09/2015. A break notice has been served on 17th June 2015. £17,500
Abacus House First & Second Offices Let to CET Language Schools UK Ltd from 19/01/2007 - 28/09/2015. Lease is outside the act thus vacant possession available upon expiry of the tenancy. £20,000
Garages Vacant

Additional Fees

Administration charge: £1,200 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.

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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

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