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Lot 6

Double Restaurant & Flat – Gross Yield 9.3%
6 Week Completion

Situation

Located close to the busy junction with Roe Green within this popular north-west London Suburb amongst a variety of independent retailers. Kingsbury Underground Station (Jubilee Line) lies less than 1 mile distant.
Kingsbury enjoys easy access to the A5 Edgware Road and the A406 North Circular Road at its intersection with the M1 (Junction 1) some 8 miles north-west of central London.

Property

A mid terraced building comprising a Double Ground Floor Restaurant with separate rear access to a Self-Contained 2 Bed Flat on the right hand section of the first floor.
In addition, there is a rear service road allowing vehicular access for unloading together with lay-by parking at the front.

Accommodation

Ground Floor Restaurant (82 covers)
Gross Frontage	35'8"
Internal Width	35'1"
Restaurant Depth	45'1"
Restaurant Area	Approx. 1,485 sq ft
2 WCs
First Floor Flat
3 Bedrooms, Kitchen, Bathroom/WC
GIA Approx. 600 sq ft

VAT is NOT applicable to this Lot

Tenure

Held on 3 separate Leases each for a term of 189 years from 1st March 1984 (thus having approx. 148 years unexpired) at a total ground rent of £180 p.a.

Tenancy

The property is let on a full repairing and insuring lease to W. A. Sheikh as an Indian Restaurant for a term of 15 years from 29th September 2022 at a current rent of £44,000 per annum exclusive.

Rent Reviews 2027 and 2032

Note 1: The tenant has been trading at the property for over 20 years.

Note 2: We are informed that the flat is occupied by staff.

Video Tour

Click here to view the video tour of the flat.

*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.

256–258 Kingsbury Road, Kingsbury, London NW9 0BT