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A Retail Investment Currently Arranged as Two Retail Units Extending to Approximately 1,484 Sq Ft (137.87 SqM). Both Units are Let Producing an Income of £28,700 per annum.
The retail units form part of a modern development with a number of apartments above. The property comprises two retail units extending to approximately 1,484 SqFt (137.87 SqM) with No. 535 measuring approximately 748 SqFt (69.49 SqM) and No. 539 measuring approximately 736 SqFt (68.36 SqM).
Tenure
Long Leasehold. The property is held on a 999 year lease
Location
The property is situated in a mixed retail/residential area and forms part of a parade of shops fronting onto the A404, being the main thoroughfare between Kensal Green and Ladbroke Grove. Kensal Green Rail and underground stations lie approximately 0.6 miles to the west.
Accommodation
No. 535 comprises an open plan retail area and benefits from an air conditioning system (not tested) and No. 539 comprises an open plan retail area and kitchen.
Tenancy
Both units are let on FRI leases for a term of 19 years to MCSC Newco Ltd at an initial rent of £15,700 pa (No. 535) and £13,000 pa (No. 539) respectively. No 535 commenced on 1st February 2017. No 539 commenced on 17th March 2016. Rent reviews every 5 years. The tenants are required to redecorate the properties every third year.
Auction House London have not measured the internal dimensions; this information has been gathered from the Valuation Office Agency measurements for the purpose of rating assessment. Prospective purchasers must make their own enquiries as to the accuracy of said measurements.
Viewing Details
Open House Viewings: Monday 16th October 14:15 - 14:45 Wednesday 18th October 14:15 - 14:45 Monday 23rd October 14:15 - 14:45 Wednesday 25th October 14:15 - 14:45 Monday 30th October 14:15 - 14:45
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.