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Lot 5 Click here for addendum

Leasehold Commercial Investment
6 Week Completion

Situation

Located in this prominent retail parade, close to branches of Pizza GoGo, Co-Op, Ladbrokes, Dulux Decorator Centre, Post Office and Bargain Booze and a host of established local traders and nearby Oakmere Park.
Potters Bar lies off the main A1000 between Brookmans Park and Barnet, approximately 13 miles north of central London, enjoying excellent road access to the M25 (Junction 24).

Property

Forming part of an end of terrace building comprising a Ground Floor Shop.

Accommodation

Ground Floor Shop
Gross Frontage 17'2”
Internal Width 15'0” (max)
Shop Depth 22'10”
Built Depth 28'7”
WC

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 23rd March 2006 at a ground rent of £250 p.a rising by £250 every 25 years to a maximum of £1,000 p.a.

Tenancy

The property is let on a full repairing and insuring lease to J. Howlett t/a The Dress Circle (Dress Agency) for a term of 12 years from 25th March 2017 (in occupation for 22 years) at a current rent of £10,000 per annum exclusive.

Rent Reviews March 2021 (not actioned) and 2025.

*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 £1,000 plus 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.

79 High Street, Potters Bar, Hertfordshire EN6 5AS