Home > Auctions > February 2021 09 February 2021 - 9:00am > Lot 60

February 2021: Tuesday 09 February 2021 - 9:00am
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    Key features

    • Terrace of three shops with five self contained flats
    • Flats presented in reasonable decorative order
    • Investment currently let at £96,920 with further income from letting the two vacant flats
    • Flat with potential for an additional attic bedroom conversion
    • Very convenient town centre location near local amenities and underground
    • Barnet Hospital easily accessible
    • King George's Fields and Old Court House Recreation Ground both nearby

    Description

    A prominent terrace of three lock up retail units with five flats arranged over the rear ground, first and second/attic floors.

    The retail units trade as Arnolds Collectables (No 20) , Body Street a fitness centre (No 20A) and Mantriella a bridal shop (22)

    There is a rear pedestrian approach from Montague Close to the flats.

    The flats which have independent gas central heating and double glazing are presented in reasonable decorative order with modern kitchens and bathrooms.

    Flat 20 No 1 has potential for an additional attic bedroom conversion subject to the requisite consents.

    Additional information

    Tenure

    Freehold

    Accommodation

    • Ground Floor - No 20 Lock up shop net internal area approximately 570 sq ft

    No 20A Lock up shop net internal area approximately 420 sq ft

    No 22 Lock up shop net internal area approximately 495 sq ft


    • Ground/First Floor - Flat 1, Reception Room/Kitchen, Two Bedrooms, Bathroom/WC
    • First Floor - Flat 2, Entrance Hall, Reception Room/Kitchen, Bedroom, Bathroom/WC
    • First Floor - No 20 Flat 1, Entrance Hall, Reception Room, Kitchen, Bedroom, Bathroom/WC
    • First/Second Floor - No 20B Flat A, Reception Room/Kitchen, Two Bedrooms, en suite Bathroom, Separate W/C
    • Second Floor - Flat 3, Reception Room, Bedroom, Kitchen, Bathroom/WC

    Tenancy

    Shop No 20 - 15 year Lease from 11th March 2020 at £20,000 per annum. Rent Reviews every 5th year, Mutual option to break after 5th and 10th year upon 6 months' notice.

    Shop 20A - 10 year Lease from 22nd January 2020 at £16,000 per annum, increasing to £17,000 per annum in January 2022 Rent Review after 5 years. Mutual option to break after 5 years upon 6th months notice.

    Shop 22 - 6 year Lease from 16th October 2019 at £17,000 per annum. Rent Review after 3 years. Mutual option to break after 3 years upon 6 months notice.


    Flat 1 - One year less one day Assured Shorthold Tenancy from 1st february 2021 at £960 per calendar month


    Flat 2 -12 month Assured Shorthold Tenancy from 21st January 2012 at £1,250 per calendar month


    Flat No 20 Flat 1 - Currently Vacant


    Flat No 20B Flat A - One year Assured Shorthold Tenancy from 6th january 2021 at £1,450 per calendar month


    Flat 3 - Currently Vacant

    Rent

    Total Current Rent £96,920 per annum plus vacant possession of two flats

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        Local information

        Chipping Barnet is a very popular suburban market town located between Borehamwood and Enfield, about 10 miles north west of central London.

        Situated on the main retail through fare (A1000) at the junction of Montague Close close to local and multiple national retailers.

        The leisure areas of King George's Fields and Old Court House Recreational Ground are both nearby.

        Barnet Hospital is also easily accessible.

        Good transport links provide easy access to M25, A1/A1(M) and M1

        Transport

        Underground Rail - High Barnet (Northern Line)

        National Rail - New Barnet

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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.

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

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        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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