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

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.

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

EPC Rating

On application

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

Property Features

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

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.