500-508 High Road, London, Tottenham, N17 9JF
Guide Price*
£850,000+
-
FIRST TIME ON THE MARKET FOR 18 YEARS
Head Leasehold Investment Producing £370,086 Per Annum (Net Income £180,086 Per Annum) in part until 2032 and 2156 Occupiers include by McDonalds and Savers
Description
The property comprises a terrace of three shops with ancillary accommodation to the upper floors within two adjoining three storey mid terrace buildings. The first and second floors benefit from their own separate rear access.
The property is held on the following leases:
From 25th March 1971 to 25th December 2156
From 25th March 1971 to 24th March 2032
The Current Rent is £190,000 Per Annum
Tenancy Schedule
| Property | Floor | Accommodation | Tenancy Details | Current Annual Rent |
|---|---|---|---|---|
| 508 | Ground Floor | Retail, & Ancillary 3,590 sq ft (333.58 sq m) | Let on a lease to Superdrug Stores PLC at a rent of £76,000 per annum plus a license fee of £750 per annum. Terms have been agreed for a new lease for 5 years at £81,250 (in occupation for over 30 years) | £76,750 |
| 500 | Ground and First | Retail & Ancillary 49.02m (527.64 sq ft) |
Let to A.I Mohammed and A.R Diblawe for 15 years from 29th September 2010 at a rent of £20,000 p.a (in occupation for over 30 years) | £20,000 |
| 502/504 | Ground Floor | Retail, Restaurant & Ancillary 522.48 sq m (5,624 sq ft) |
Let to McDonalds Restaurant Limited to 22nd March 2032 at a rent of £121,700 per annum plus a license fee of £1,636.75 per annum (in occupation for over 40 years) Rent Review 25th March 2026 | £123,336 |
| 502/508 | Ground, First & Second | Retail, Restaurant & Ancillary 1,038.52 sq m (11,178.5 sq ft) | Let on a lease to Soffi and Co. Limited (Trading as Clasic Restaurant) for the term to 20th March 2032 at a rent of £150,000 per annum with fixed increases every three years. Rising to £178,000 per annum (in occupation for 6 years) | £150,000 |
Loading the bidding panel...
Agreement Documents
Additional Documents
Share
An administration charge of £1,500 (including VAT) applies unless otherwise stated in the addendum. The legal pack and addendum contain details on any additional buyer's premium and disbursements that may be payable upon completion. *Starting price estimates ("guides") are subject to change before the auction. These are not guaranteed selling prices. Each property has a reserve price, the minimum acceptable selling amount, which we expect to be within the guide range or up to 10% above.
While we strive for accuracy, information including images, video tours, and descriptions cannot be fully guaranteed. We will make every effort to inform potential buyers of any changes to the catalogue. Measurements and areas are approximations, and potential buyers are advised to verify them independently. The same applies to tenanted properties - we recommend you confirm occupancy status and rent payments directly. A professional property survey is highly recommended for potential buyers. Neither Swift Property Auctions or their clients are liable for any losses or costs related to withdrawn/sold properties, viewing cancellations, or inaccurate rating information obtained through verbal enquiry only.
While these particulars are provided in good faith, they don't constitute factual representations or form part of any offer or contract. Prospective buyers or tenants should independently verify all information mentioned here. Furthermore, neither Swift Property Auctions nor its employees or agents hold any authority to make any guarantees or warranties regarding this property.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.