LOT 17

4 The Promenade, Edgwarebury Lane, Edgware, Middlesex, HA8 7JZ

LONG LEASEHOLD COMMERCIAL INVESTMENT
Result: Sold for £526,000 Guide price: Sold*

Auction Date

Wednesday, 11th September 2019 12:00pm

Location & Description

A ground floor bakery (forming part of a triple unit) within this well established parade just off Station Road/Hale Lane where there are a number of multiple retailers including NatWest, Nationwide and Tesco Express.
Edgware underground/bus station (Northern line) and the Broadwalk shopping centre are within close proximity.
Edgware is a popular north London suburb about 11 miles north west of central London and has good road links via the A41 and M1.

Accommodation

Ground Floor: 940 sq ft (87.3 sq m), cold store
Let on a repairing and insuring lease to Grodzinski Bakery Ltd (by way of assignment) for 18 years from 21.06.2004 at £29,500 p.a. rising to £30,975 p.a. on 21.06.2020. There is an extension lease for a further 22 years from expiry of the existing lease beginning on 21.06.2022. Rent Reviews 2024 & 4 yearly.

Lease Details

999 years from 25.12.1995 at a peppercorn.

Note

1. Tenant advises that they have traded from the adjoining shops since 1982 and have traded from this shop since 2010.
2. Tenant Profile: www.grodzinski.co.uk

EQUIVALENT TO £29,500 p.a. RISING TO £30,975 p.a. IN 2020

EPC Rating

On application

Purchaser Fee Invoice Number

A080809

Property Features

  • Commercial Investment
  • Equivalent to £29,500 p.a. Rising to £30,975 p.a. in 2020
  • Let Until 2044
  • Popular North London Suburb

Status

Sold for £526,000

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.