The property comprises a three storey link-detached building arranged over ground, first and second floor levels. A part mezzanine floor has also been added to the warehouse area.
Location
The property is located on Park Avenue accessed off the A406 North Circular road which provides a direct route into North London and the M1 Motorway. The Hanger Lane gyratory system is also in close proximity and provides direct access into Central London via the A40 Western Ave and to the wider motorway networks to include the M40, M25 and M4. Hanger Lane (Central Line) and Stonebridge Park (Bakerloo Line) underground stations are both within walking distance of the property and various bus routes also service the area.
Accommodation
Ground Floor - 3,287 SQ FT (305.37 SQ M)
Mezzanine Floor - 1,514 SQ FT (140.66 SQ M)
First Floor - 3,050 SQ FT (283.55 SQ M)
Second Floor - 1,932 SQ FT (179.49 SQ M)
TOTAL - 9,783 SQ FT (908.87 SQ M)
(The property has not been measured by Telsar)
Terms
Tenancy
The sale is subject to one tenancy:
1. Ground Floor - Hybrid MOT Centre for a 10 year term from 10th November 2019 at a rent of £54,000 pa
2. We have been advised the tenant has exercised their option to determine the lease so any interested party should expect to receive vacant possession of the first floor on completion of the sale.
3. Second Floor is Vacant.
The property has not been internally inspected or measured by either Telsar or the Joint LPA Receivers. The information contained within these particulars has been provided by the Mortgagor, including the tenancy information which was provided in unsigned and undated tenancy terms. The Receivers have been unable to verify whether the aforementioned tenancy information is correct.
The Joint LPA Receivers are not receiving rent and are unable to confirm how many occupants are residing in the property (if any), who occupies the property or on what basis. As such, prospective buyers are advised to make their own enquiries in this regard and are deemed to offer accordingly.
Planning
Interested parties are advised to make their own enquires with the London Borough of Brent.
Gross Annual Income
£54,000 pa exclusive
Net Yield
3.25% assuming purchasers cost of 6.13%
VAT
The sale price will be subject to VAT.
Business Rates
Interested parties are advised to contact to obtain this figure.
Legal Costs
Each party to bear their own legal costs.
Further Info
The property is being marketed for sale on behalf of Joint LPA Receivers (“the Receivers'') and therefore no warranties, representations or guarantees are given or will
be given in respect of the information in this listing or any matter relating to the properties, including VAT. Any information provided is provided without any responsibility
on the part of the Receivers, their partners, employees agents or successors and without liability for any reliance placed on it. The Receivers are acting without personal liability whatsoever
Specification
- 4.75m eaves height
- Securely gated front yard
- Concertina loading door (w:3.2m x h:3.6m)
- Dedicated parking (8-10 cars)
- Concrete floor
- WC & Kitchens on each floor
- Mezzanine floor
- Fitted offices
- Second floor terrace area