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Lot 2 Click here for addendum

Freehold - Pizza Restaurant/Take-Away & 2 Flats
On behalf of an Executor
6 Week Completion

Situation

Located close to the junction with Woodside Park Road, directly opposite Sainsbury's Supermarket and amongst such multiples as Merkur Slots, Lloyds Bank, Paddy Power, Barnardo's, William Hill and Barclays as well as a host of independent retailers.
North Finchley is a well known shopping retail centre serving the surrounding residential population of this popular suburb located approx. 8 miles north of central London.

Property

A mid terraced building comprising a Ground Floor Pizza Restaurant/Take-Away with separate front entrance to 2 Self-Contained Flats on the first and second floors.
In addition, the property includes a Rear Yard.

Accommodation

Ground Floor Restaurant/Pizza Take-Away
Gross Frontage	19'0"
Internal Width	14’0’’
Restaurant Depth	39’6’’
Built Depth	55'6"
Area	Approx. 758 sq ft¹
External Store Area	Approx. 141 sq ft¹
WC
First Floor Flat
2 Bedrooms, Living Room, Kitchen, Shower/WC (GIA Approx. 706 sq ft)
Second Floor Flat
2 Bedrooms, Living Room, Kitchen, Shower/WC (GIA Approx. 845 sq ft)

¹Areas taken from VOA.

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to U. Ozdemir as a Wood Fired Pizza Restaurant/Take-Away for a term of 20 years from 25th December 2019 at a current rent of £56,000 per annum exclusive.

Rent Reviews 2029 and 2034

£9,500 Rent Deposit held.

Note 1: The tenant has advised that the flats are occupied by family members and staff.

Note 2: Refer to the Auctioneers for the video tours of the flats.

*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.

849, 849a & 849b High Road, North Finchley, London N12 8PT