Sold for £125,000

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A long leasehold mixed use investment, let producing £99,400 pa subject to head lease rent.

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Description/Location

The properties are prominently situated at the junction of High Street and Goodacre Close, Potters Bar station 0.7 miles. They front directly onto the High Street and benefit from parking forecourts. Held by way of a FRI lease at a rent of £70,777 pa subject to a review on 25/03/2025 and 7 yearly thereafter, currently assessed at 73.5% of gross rents receivable.

Address	Lessee	Type	Lease Term	Current Rent
64	VIP Nails	FRI	10 years from 15 October 2020 (rent review 15 October 2021 and every 3 years)	£9,900 pa
66-68	Dulux Decorating Centre	FRI	25 years from 1 May 2002 (rent review 1 May 2017 and every 5 years)	£23,000 pa
66A	Technical Detail Limited	FRI	10 years from 7 October 2013 (rent review 27 March 2018 and every 3 years)	£14,000 pa
70	Ital Living Limited	FRI	15 years from 23 March 2016 (rent review 22 March 2021 and every 5 years)	£30,000 pa
70A	Individual	AST - 1 bed maisonette	3 December 2015 to 2 December 2016	£9,900 pa
70B	Individual	AST - 3 bed maisonette	1 June 2016 to 31 May 2017	£13,140 pa

Tenure

Leasehold: 99 years expiring 18/08/2067

Joint Agent

Duncan Perry Estate Agents

Local Authority

Hertsmere Borough Council

Office Contact

Please contact Elliott Network Auctions on 01923 240420

Rent

Gross Rents: £99,400 pa

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.