Home > Auctions > December 2022 14 December 2022 - 9:00am > Lot 79

December 2022: Wednesday 14 December 2022 - 9:00am
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Floorplan

Property details

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    Key features

    • A possible development site circa 10,000 sq ft in North London 
    • Total site area approx. 987 sq m (10,620 sq ft) or 0.244 of an acre
    • Investment let at £66,000 p.a.
    • Total gross internal area approx. 421.3 sq m (4,535 sq ft)
    • Self contained upper parts comprising of 7 bedrooms (not inspected)
    • Further development potential to convert the property into multiple dwellings (subject to the existing lease and requisite consents)
    • A scheme has been drawn up to develop the land at the rear of the property to accommodate a number of houses (This can not be relied upon and is subject to the requisite consents)
    • Landlord only break clause to terminate the lease at any time be serving a 6 month notice
    • Woodside Park Underground an approx. 0.5 miles from the property

    Description

    The property is semi-detached and set out over two storeys above part basement beneath a pitched roof. It has a trade patio to

    the front and a sizable yard area to the rear .The land to the rear benefits from vehicular access off the High Road via a coaching entrance beneath ‘flying-freehold’.

    The Premises Licence permits the sale of alcohol from 9:00am until 11:00pm on Sunday to Wednesday and from 9:00am until midnight on Thursday to Saturday.

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please note that the floor areas have been provided by the vendor and the property has not been inspected by Savills


    Ground Floor - Open plan trading area to the front decorated in a traditional style, over 40 covers, fitted with a single side servery, a trade kitchen and set of customer wc’s are located to the rear.

    First Floor - Seven bedrooms, a shared kitchen and shared bathroom/washroom facilities and wc.

    Basement - Cold beer store and ancillary storage areas.


    Ground Floor - An approx. 200.7 sq m (2,160 sq ft)

    First Floor - An Approx. 134.5 sqm (1,448 sq ft)

    Basement - An Approx. 86.1 sqm (927 sq ft)


    Total site area an approx. 987 sq m (10,620 sq ft) or 0.244 of an acre


    Tenancy

    Malt & Hop (entire property and land to the rear)

    • Let to private individuals
    • Let on a 7 years (minus 1 day) lease from 08/09/2020 until 07/09/2027
    • Option to extend the lease by 3 years on the same terms until 2030
    • Investment let at £66,000 p.a.
    • Rent review dates 08/09/2023, 08/09/2026 and 08/09/2029

    Planning

    From informal enquiry of the London Borough of Barnet it has been established that the property is neither listed nor situated within a conservation area.


    Rent

    £66,000 p.a.

    Notes

    Joint Auctioneers:

    Panayiotis Themistocli

    panayiotis.themistocli@agg.uk.com

    M: 07973 856 232


    Please note the site areas provided are approximate. 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.


    VAT is applicable (Please refer to the legal pack)

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        Local information

        The pub fronts the High Road, North Finchley and is surrounded by a mixture of retail and restaurant properties.

        There are attractive residential areas located off the main road.

        A Sainsbury’s Supermarket lies within close proximity.

        It is located circa 12.75 Kilometres (8 miles) north east of central London and the nearest Underground station is Woodside Park which lies 500 metres to the west and provides frequent services into central London with an average journey time of approximately 30 minutes.

        Transport

        Underground - Woodside Park (Northern)

        National Rail - Oakleigh Park (Great Northern & Thameslink)

        Legal documents

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        EPC rating

        If no EPC rating appears please refer to the legal pack.

        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.

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