Unsold

GUIDE PRICE £460,000 - £480,000

ERV: £5000 pm

71 & 73 Myddleton Road

Bounds Green, London, N22 8LZ

Lot 40

Restaurant - Commercial Property
Vendor: Receiver

A pair of freehold buildings comprising a large ground floor restaurant and take away (2574 sq ft) and 2 flats sold off on long leases. Development potential, vacant.

Description/Location

The ground floor is arranged as a double fronted restaurant with stainless steel front of house grill/takeaway area, bar and rear prep kitchen with walk-in fridge/freezer. The dining area provides 54+ covers, air conditioning, and W/C's to the rear, sandwich bar / take away trade area to the front. The upper parts are sold off on long leases for 999 years from 25/12/2005. The ground floor is well presented, we estimate the current rental value is £60,000 pa. Potential to separate the ground floor into 2 units or convert the rear parts into flats, subject to planning.

Tenure

Freehold
Energy Rating: C

Joint Agent

Duncan Perry Estate Agents

Accommodation

Ground Floor: Entrance to sandwich bar with restaurant beyond, entrance to takeaway, food prep area, bar, trade kitchen, walk in refrigerator, customer wc's. First Floor: 2 x self contained flats, sold off on long leases.

Rent

ERV: £5000 pm

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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.