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Lot 3 Click here for addendum

Freehold Investment entirely let Foxtons Limited
In the same family ownership for over 20 years
8 week completion

Situation

Located at the junction with Walm Lane, almost adjacent to Willesden Green Underground Station (Jubilee Line).
Nearby multiples include Sainsbury's Local, Co-op and Gail's as well as a variety of local shops and restaurants all serving the surrounding highly sought after residential area.
Willesden Green is located approx. 7 miles north-west of central London and benefits from good road links via the M1 (Junction 1) just over 2 miles away.

Property

A substantial mid terraced building comprising a Ground Floor Triple Shop with internal and separate front access to Offices on the first floor and Ancillary Accommodation on the second and third floors.
The second and third floors are not currently being used – see 'FUTURE DEVELOPMENT' section.

Accommodation¹

Ground Floor Triple Shop
Gross Frontage	62'8"
Internal Width (max)	53'2"
Shop Depth	47'5"
Area	Approx. 1,836 sq ft
First Floor Offices
Area	Approx. 1,871 sq ft
4 WCs
Second Floor Ancillary
2 Rooms Area	Approx. 1,162 sq ft
Third Floor Ancillary
3 Rooms with Kitchen, Shower Room/WC and sep. WC
Area	Approx. 795 sq ft

Total Area	Approx. 5,664 sq ft

¹The first and second floor areas are taken from the VOA. The second and third floor areas are gross internal (excluding stairs).

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease (subject to a schedule of condition relating to the second and third floors only) to Foxtons Limited as Estate Agents (T/O for Y/E 31.12.25 £154.6m, Pre-Tax Profit £15.7m and Shareholders' Funds £41.6m) for a term of 20 years from 29th January 2010 at a current rent of £85,000 per annum exclusive.

Rent Review 25th December 2024 (Outstanding – Landlord quoted £97,000 p.a.). The Purchaser will have the benefit of dealing with this rent review and will retain all increased rent and interest from December 2024 as per the lease.

£44,612.49 Rent Deposit held.

Note: The tenant did not operate their December 2024 Break Clause.

Future Development

There may be potential to convert the second and third floors to Serviced Offices or Residential Use, subject to obtaining possession and the necessary consents.
The Vendor has had floor plans drawn up to show the following suggested scheme for 9 studio flats:

Second Floor: 6 Studio Flats (ranging between 150 sq ft and 215 sq ft).
Third Floor: 3 Studio Flats (ranging between 100 sq ft and 170 sq ft) plus shared kitchen/dining/laundry room.

Click here to view the Floor Plans.

VIDEO TOUR

Click here to view the video tour of the second and third floors.

*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.

OTHER MATTERS:

The plans and photographs shown in the catalogue are included in order to assist you in locating the Lot in question. They are not to be taken as drawn to scale and any arrows on plans or photographs are merely to assist you in finding the Lot, not for the purpose of indicating legal boundaries or which direction the lot is facing. The Auctioneers do not warrant or represent that any plans or photographs show the up to date position with regard to occupiers either for the Lot or for any other properties shown in such plans or photographs.

2, 4 & 6 Station Parade, Willesden Green, London NW2 4NH