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Lot 17

Gross Yield 8.9%
6 Week Completion

Situation

Located at the junction with Castle Road in this well established trading position, adjacent to Argos and British Heart and amongst such other multiple retailers as Greggs, Clarks, Robert Dyas, Boots Opticians, Poundland and many others.
North Finchley is a well known shopping retail centre serving the residential population of this popular suburb located approx. 8 miles north of central London.

Property

Forming part of a substantial mixed use building comprising a Large Ground Floor Retail Unit.

Accommodation

Ground Floor Retail Unit
Internal Width 29'5"
widening at rear to 50'4"
Shop Depth 99'11"
Built Depth 123'9"
Sales Area Approx. 3,500 sq ft
Ancillary Area Approx. 850 sq ft
WC

Total Area Approx. 4,350 sq ft

VAT is applicable to this Lot

Tenure

Leasehold for a term of 999 years from completion at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to Savers Health and Beauty Limited (see Tenant Profile) for a term of 10 years from 7th November 2017 at a current rent of £80,000 per annum exclusive.

Rent Review and Tenant's Break November 2022

Tenant Profile

Savers Health & Beauty Ltd have over 400 branches and in the Y/E 30/12/17 reported a Turnover of £460.3m, a Pre-Tax Profit of £44.3m and Shareholders' Funds of £64.5m.
Savers Health & Beauty Ltd are part of the A S Watson Group which is the worlds' largest Health & Beauty Retail Group with over 14,000 stores worldwide. Founded in 1841 and based in Hong Kong, the group are majority owned by CK Hutchison Holdings. Visit: www.aswatson.com

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

704 High Road, North Finchley, London N12 9QL