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    Key features

    • Rarely Available Mixed Use Investment Opportunity
    • Retail Unit and Residential Upper Parts
    • Ground Floor Let to a Cafe
    • 16 Year Lease Expiring 03.06.2031
    • Upper Parts Comprise 3 Bed Flat (Vacant)
    • Asset Management Potential Via Letting
    • Potential to Convert to 2 x Flats (subject to consents)
    • Prominent High Footfall Pitch
    • VAT-Free Investment
    • Investment Let at £23,500 p.a. with Vacant Flat

    Description

    The property comprises a rarely available mixed use investment benefitting from a prominent pitch fronting a high footfall street.

    Arranged as a ground floor retail unit with a separately accessed three bedroom flat to the upper parts, the property is currently part-let and producing £23,500 per annum.

    The ground floor is let to a cafe on a 16 year lease expiring 03.06.2031 and paying £23,500 per annum. We understand a rent deposit of £17,250 is held. The lease benefits from reviews every four years with the 2023 review currently outstanding, offering immediate asset management potential via improvement of the rent.

    The upper parts comprise a three bedroom flat offered with vacant possession, offering immediate asset management potential via letting.

    The upper parts may also be suitable to conversion to provide multiple units, subject to obtaining any requisite consents.

    The property benefits from a prominent frontage to Finchley Road, an high footfall arterial route connecting the centres of Finchley and Golders Green. The surrounding area comprises similar mixed uses with a number of independent retailers.

    Additional information

    Tenure

    Freehold

    Rent

    £23,500 per annum
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      EPC rating

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      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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