October 2021: Tuesday 05 October 2021 - 9:00am
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Floorplan
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    Key features

    • Investment Let at £100,000 per annum
    • Comprising of 12,065 sq ft over Ground and Basement
    • Located on prominent corner position fronting High Road and Castle Road
    • Located in a prosperous and popular London suburb
    • Future potential to subdivide the unit to provide further self contained units - subject to the existing lease and requisite consents.
    • VAT is applicable
    • Argos has recently ceased trading from the store and are currently looking to assign the lease.
    • They are under contract to pay the rent until the lease expires or they serve their notice to break in Year 5 of the lease.

    Description

    The property is arranged on ground and basement floor providing a ground floor shop on associated storage space at basement level.

    Nearby occupiers include Savers, British Heart Foundation, Ladbrokes, Aldi, Greggs and the Tally Ho Public House.

    Additional information

    Tenure

    Leasehold. 999 years from 2020 on peppercorn rent.

    Accommodation

    Ground floor - Approximately 3,980 sq ft

    Basement - Approximately 8,085 sq ft


    Total - 12,065 sq ft

    Tenancy

    Let to Argos Ltd on 10 years from 11.10.2019 

    Rent review and Tenant option to break in Year 5

    Argos has ceased trading from the store and are currently looking to assign the lease.

    Rent

    Total current rent £100,000 per annum

    Notes

    The second photo was taken when Argos were still trading from the store.

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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.

      Local information

      The property is located on the corner of Castle Road and High Road.

      North Finchley is a prosperous and densely populated area of North London

      Woodside Park Underground station is located approximately 0.6 miles away

      West Finchley Underground station is located approximately 0.9 miles away


      Transport

      Underground - Woodside Park (Northern Line)

      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.

      Addendums