Lot 1 details
IN SAME OWNERSHIP OVER 60 YEARS
6 Week completion
Located in a prominent position near to the junction with Sheepcote Road and within close proximity to the pedestrianised St Ann's Road and St Ann's Shopping Centre. Other nearby occupiers include Lloyds Bank,
New Look, Debenhams, Wenzel's and Subway.
Harrow is a popular residential and commercial area which lies approximately 11 miles north-west of central London
A mid-terrace building comprising a Ground Floor Shop with separate rear access to a Self-Contained Flat on the first and second floors (see Note 1).
Ground Floor Shop
Gross Frontage 19'9"
Internal Width (max) 17'0"
Shop Depth 51'4"
Built Depth 66'0"
First and Second Floor Flat
Not Inspected - Believed to be 5 Bedrooms (each with Shower/WC) and a Kitchen.
VAT is applicable on 80% of the purchase price on this Lot
The entire property is let on a full repairing and insuring lease to J. Choudhury & R. Khan (Household goods) for a term of 15 years from 29th September 2005 at a current rent of £25,000 per annum exclusive.
Rent Reviews 2015 (Outstanding - Landlord quoted £33,500 pa) and 2020
Note 1: The tenant has informed us that he is in the process of renewing his HMO Licence for the Flat and that the Local Authority has asked him to carry out some alterations before renewing the said Licence.
Note 2: £6,250 Rent Deposit held.
Note 3: The tenant trades as a restaurant from the adjoining shop (No. 265) and a small part of the rear of No. 267 is used as a kitchen for No. 265.
Note 4: There is a Licence enabling the Local Authority to attach a security camera to the front of the property which can be terminated by the freeholder at any time on 6 months prior notice.