No longer on the market
This property is no longer on the market
MapProperty
Sold STC
Property
1815
Features and description
- Freehold mixed-use investment
- Producing £44,800 per annum (£50,400 pa ERV)
- Cake/bakery with 2 flats above
- Busy footfall area
Location:
The property forms part of a busy local shopping parade on this North London thoroughfare immediately to the south of its junction with the A406 Bowes Road (North Circular Road) at Palmers Green. Numerous bus routes pass along Green Lanes to neighbouring parts of North London. London Underground Piccadilly Line services are available a little under a mile away at Bounds Green while Network Rail Great Northern services are to be found at Palmers Green.
Description:
The subject property comprises a retail unit at ground floor with first floor residential accommodation arranged as two flats. The building is of traditional solid brick construction beneath a pitched, tile covered main roof and has a mainly single storey but part two storey rear addition beneath flat roofs. The ground floor commercial unit trades as a Greek Cypriot bakery with large production areas to the rear and a retail café at the front. The first floor flats are approached via the rear service road running between Tottenhall Road and Grenoble Gardens.
User:
We believe the premises fall under Class E & C3 of the Town & Country Planning (Use Class) (Amendment) Order 2005.
EPC:
Energy performance certificate has the following ratings GF C(54), 34a D(63) & 34b C(71) . A copy of the EPC is available upon request.
VAT:
The property has not been elected for VAT purposes.
Accommodation:
The property offers the following approximate dimensions
Floor Use Sq Ft Sq M Ground floor Bakery 1048 47.20 1st Rear (34a) Flat 454 42.20 1st Front (34b),Flat 313 29.10 Total 1815 168.66 Tenancies Ground Floor- Taste of Cyprus Bakery and Patisserie Ltd are Holding over on an existing rent of £20.800 per annum. Landlords are in the process of renewing the lease for term of 20 years at £24,000 pa. Flat 34b 1st floor front - Vacant ERV £12,000 per annum Flat 34a 1st floor rear - Holding over £12,000 per annum Total income when fully let £44,800 with ERV £50,400 per annum.
Tenure:
Held under title number EGL310561 Freehold.
Terms:
Offers are invited in excess of £660,000 for our client’s freehold interest.
Legal:
Each party to bear its own legal costs.
AML:
In accordance with Anti-Money Laundering Regulations, we shall require additional information from the purchaser/tenants so that an online verification can be undertaken.
The property forms part of a busy local shopping parade on this North London thoroughfare immediately to the south of its junction with the A406 Bowes Road (North Circular Road) at Palmers Green. Numerous bus routes pass along Green Lanes to neighbouring parts of North London. London Underground Piccadilly Line services are available a little under a mile away at Bounds Green while Network Rail Great Northern services are to be found at Palmers Green.
Description:
The subject property comprises a retail unit at ground floor with first floor residential accommodation arranged as two flats. The building is of traditional solid brick construction beneath a pitched, tile covered main roof and has a mainly single storey but part two storey rear addition beneath flat roofs. The ground floor commercial unit trades as a Greek Cypriot bakery with large production areas to the rear and a retail café at the front. The first floor flats are approached via the rear service road running between Tottenhall Road and Grenoble Gardens.
User:
We believe the premises fall under Class E & C3 of the Town & Country Planning (Use Class) (Amendment) Order 2005.
EPC:
Energy performance certificate has the following ratings GF C(54), 34a D(63) & 34b C(71) . A copy of the EPC is available upon request.
VAT:
The property has not been elected for VAT purposes.
Accommodation:
The property offers the following approximate dimensions
Floor Use Sq Ft Sq M Ground floor Bakery 1048 47.20 1st Rear (34a) Flat 454 42.20 1st Front (34b),Flat 313 29.10 Total 1815 168.66 Tenancies Ground Floor- Taste of Cyprus Bakery and Patisserie Ltd are Holding over on an existing rent of £20.800 per annum. Landlords are in the process of renewing the lease for term of 20 years at £24,000 pa. Flat 34b 1st floor front - Vacant ERV £12,000 per annum Flat 34a 1st floor rear - Holding over £12,000 per annum Total income when fully let £44,800 with ERV £50,400 per annum.
Tenure:
Held under title number EGL310561 Freehold.
Terms:
Offers are invited in excess of £660,000 for our client’s freehold interest.
Legal:
Each party to bear its own legal costs.
AML:
In accordance with Anti-Money Laundering Regulations, we shall require additional information from the purchaser/tenants so that an online verification can be undertaken.
Property information from this agent
About this agent
At Willmotts we pride ourselves in providing a first class service from start to finish. We have proven over 150 years of being an independent estate agent in West London that honesty and integrity is the key to success. That is why most of our business comes from in house clients and referrals. We are a member of the Guild of Professional Estate Agents, with over 750 offices nationwide and are the No.1 Independent Estate Agency Network so can give your property a huge amount of exposure. We are always looking to help and to go above and beyond to make sure our clients and customer get the service they deserve. We hope that by choosing Willmotts you will have chosen a property company that you want to deal with for the rest of your life. With very experienced and driven staff members, bespoke software, professional photographers, powerful marketing tools, high quality print advertising, subscriptions to all the major portals so we can show your property in the best light. We pride ourselves on being The Complete Property Service and will be able to help with whatever property needs you have. For a friendly chat about how Willmotts can help you or just to find about the market in your area please do not hesitate to contact us.