A substantial 3 storey building comprising ground floor showroom and 2 large workshops (1689 sq ft) - vacant with development potential. Upper parts arranged 5 x self-contained studio flats, let on individual ASTs producing £50,040 pa.

Description/Location

Situated on Watford Road, close to the junction with Sudbury Court Drive. The ground floor was recently let to a vehicle repair / MOT business but offers potential for various uses. We estimate the rental value of the grounds floor at £30,000+ pa. Potential for development of the workshops, possibly for residential use, subject to planning.

We are advised the property is not elected for VAT.

Tenure

Freehold

Office Contact

Please contact Network Auctions on 020 7871 0420

Accommodation

Ground Floor: 1689 sq ft / 156.9 sqm. Access from the front and rear. Commercial frontage, retail / office space, inner office, 2 large workshops. First & Second Floors: 1156 sq ft / 107.4 sqm. Separate ground floor entrance via Watford Road. Flat A. 22/04/2023. £900 pm. Flat B. 20/9/2023. £900 pm. Flat C. 16/04/2023. £980 pm. Flat D. 28/11/2022. £720 pm. Flat E. 18/02/2022. £670 pm.

Rent

Current Rent: £50,040 pa

Virtual Tour

Virtual Tour 203 & 203A Watford Road

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Legal documents

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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.