Long leasehold mixed-use investment. let producing £132,600 pa subject to head lease rent of £70,777.

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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 (RPI review on 25/03/2025 and 7 yearly thereafter). Currently assessed at 73.5% of gross rents receivable (fixed from the date of the last review).

Tenure

Leasehold: 99 years expiring 18/08/2067

Joint Agent

Duncan Perry Estate Agents

Office Contact

Network Auctions - 020 7871 0420

Accommodation

64 High Street - 10 years from 15/10/2020. Rent £12,700 pa. Review 15/10/2026 66a High Street - 10 years from 07/10/2013. Rent £21,500 pa. 66-68 High Street - 25 years from 01/05/2002. Rent £24,500 pa plus £500 pa for parking spaces. 70 High Street - 15 years from 23/03/2016. Rent £41,000 pa. 70a High Street - AST, 1 bed maisonette. £14,400 pa. 70b High Street - AST, 3 bed maisonette. £18,000 pa. The seller has confirmed there are no rent arrears.

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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.