20 September 2023: Wednesday 20 September 2023 - 9:00am
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    Key features

    • Investment let at £42,200 p.a.
    • Prominent mid terrace building located in the affluent area of Muswell Hill
    • Comprising of 2 x commercial units and 2 x two bed flats (one sold off on long lease)
    • Commercial space and approx. 1,776 sq ft and 2 bed flat an approx. 850 sq ft. Total 2,626 sq ft (sold off flat and common parts not included)
    • Low capital value of £285.60 per sq ft on guide price
    • Asset management potential to substantial increase the passing income by increasing the rent and changing the tenant/occupier profile (subject to negotiation)
    • Development potential to build into the loft space/ add another floor (subject to the requisite consents)
    • The basement tenant is currently in circa £50,000 arrears and the benefit of these arrear will be passed to the incoming purchaser (please refer to the legal pack)
    • Nearby occupiers include Franco Manca, J.D Wetherspoons, Pizza Express, Boots
    • VAT free investment

    Description

    The property is a substantial mid terrace building situated over basement, ground and two upper floors. The property comprises 2 commercial units over ground and basement. One of these units is situated over part ground floor and the entire basement currently trading as a late entertainment bar/venue; the other unit is trading as a hot food takeaway and is situated over ground floor.

    The first floor comprises of a 2 bedroom flat (sold off on long lease) and the 2nd floor comprises of 2 bedroom flat with further potential to convert the loft/add an additional floor.

    Nearby occupiers include Franco Manca, J.D Wetherspoons, Pizza Express, Boots, Little Waitrose, Pret A Manger

    Additional information

    Tenure

    Freehold

    First floor flat sold off on long lease 125 years 29/09/1986 an approx. 89 years unexpired

    Rent

    £42,200 p.a.

    Notes

    Joint Auctioneer

    Daniel Reuben

    Tel: 07973629355

    Email: daniel@ldninvestments.com 


    Please note the site areas provided are approximate and have been provided in good faith by the vendor. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.

    Viewing by appointment only

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Accommodation / Tenancy Schedule

      Local information

      The property is located between the junctions of Muswell Hill Roundabout and Dukes Mews.

      Highgate Station & East Finchley Station is located an approx. 1.2 miles from the property

      Transport

      Highgate Station - Underground Northern Line

      East Finchley Station - Underground Northern Line

      Legal documents

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      EPC rating

      The EPC rating for this property is C

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums