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Description

FREEHOLD INVESTMENT FOR SALE - RETAIL (A2), OFFICE (B1), RESIDENTIAL INVESTMENT OPPORTUNITY

Location:

The property occupies a position on the junction of High Street Barnet, St Albans Road and Hadley Green West. The property is situated within a popular residential and retail areas with further trade gained from volumes of passing vehicular traffic. Public transport is provided by local busses as well as High Barnet underground station and the Spires Shopping Centre is within 500 ft of the subject property.

Description:

The ground floor and basement is currently a retail (A2) unit let to Savills (L&P) Ltd on a 15 year lease from 2007. The shop is 1,800 s ft over ground floor and basement. The rear office over ground and lower ground floor is approximately 1,600 sq ft and let to Millennium Developments Ltd on a five year lease from 2007. The first floor office is currently vacant. Furthermore there are 3 x 2 bedroom flats, one with a roof terrace.

Please see below tenancy schedule for further information. Please note that this information has been provided by a third party and purchasers are advised to confirm this prior to any sale.

Tenure:

Freehold subject to the existing leases as attached.

Terms:

Offers in excess of £1,400,000 (One Million and Four Hundred Thousand Pounds) are invited. This represents a Net Initial Yield of 6.19%, assuming purchaser’s costs of 5.75%.

VAT:

We have been advised that VAT will be payable on the purchase price.