December 2022: Wednesday 14 December 2022 - 9:00am
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    Key features

    • Entire property Investment let at £35,000 p.a. and rising to £40,000 p.a.
    • Annual fixed uplifts in rent
    • Tenant has fitted out to a high specification
    • Possible further potential to convert the upper floors to residential use and add an additional floor (subject to the requisite consents)
    • Let until 2026 with tenant option to extend for another 5 years
    • FRI lease for the entirety of the building

    Description

    The property comprises a single, self contained, shop unit arranged over ground, first and second floors. The ground floor is being utilised as a retail space with the upper floors being used as ancillary storage space

    The property may have future development potential to convert the upper floors into residential use and add an additional floor (subject to the requisite consents and existing lease)


    Additional information

    Tenure

    Freehold

    Accommodation

    Please note that the floor areas have been taken from the VOA and the property has not been inspected by Savills


    Ground Floor - Retail space

    First Floor - Ancillary storage

    Second Floor - Ancillary storage


    Tenancy

    4 Seven Sisters

    • Let to A & N Corporation Limited (Trading as Mooboo)
    • 5 year lease from 03/08/2021 (reversion 02/08/2026)
    • FR&I lease
    • Option for tenant to extend by another 5 years to 2031
    • Rolling option for Landlord to terminate the lease.
    • Fixed rent increase
    • 03/08/2023 £37,000
    • 03/08/2024 £38,000
    • 03/08/2025 £40,000

    MooBoo is the largest bubble tea operator in the UK, currently trading from over 90 stores across the UK.


    Rent

    £35,000 p.a. and rising

    Notes

    Joint Auctioneer:


    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.

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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 situated on the south side of Seven Sisters Road, and can be found close to the junction with Holloway Road.

      Holloway Road is located an approx. 0.5 miles from the property.

      Transport

      Holloway Road - Underground (Piccadilly)

      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