Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 11 Click here for addendum

Commercial Investment – Gross Yield 8.7%
6 week completion

Situation

Located close to the junction with College Road in the heart of the town centre, adjacent to Boots Opticians, diagonally opposite a Tesco Supermarket, amongst other multiples such as Greggs, Wimpy and William Hill and a host of established independent traders, all serving the surrounding residential area.
Cheshunt is located 4 miles north of Enfield and benefits from excellent road links via the M25 (Junction 25) and the A10. The property is approximately ½ a mile from Cheshunt Station (Weaver Overground Line, Greater Anglia) providing rail services to London Liverpool Street Station.

Property

Forming part of a retail parade comprising a Ground Floor Shop.

Accommodation

Ground Floor Shop
Gross Frontage 18'9"
Internal Width 17'6"
Shop Depth 51'0"
Built Depth 60'6"
Sales Area Approx. 892 sq ft
Store Area Approx. 115 sq ft
WC

Total Area Approx. 1,007 sq ft

VAT is NOT 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 Home Depot Pound Saver Limited (with personal guarantor) t/a Local Discount Store (Household Goods) (having 3 branches) for a term of 12 years from 18th January 2022 (renewal of a previous lease, in occupation for at least 10 years) at a current rent of £22,500 per annum exclusive.

Rent Reviews January 2026 (not yet actioned) and 2030.

This is a £10,000 Rent Deposit held.

*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.

57b Turners Hill, Cheshunt, Hertfordshire EN8 8NT