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Location: The property is situated in a prominent position on the corner of High Street, Elstree and Barnet Lane.
Accommodation: Comprises a rear industrial building and yard occupied as a tyre and exhaust centre, together with a small shop / office fronting the High Street and 2 flats, having a site area of 4,508 sq ft approx.
Planning: Planning Permission has been granted on the 14 February 2019 for the redevelopment of the rear site incorporating the tyre and exhaust centre, excluding the shop and flats, to construct a 2-bedroom house together with gardens and parking.
Full details can be obtained from Hertsmere Borough Council planning portal reference 18/1634/ful.
Tenancies & incomes
Shop – Barbers 211 sq ft 7 years commencing 20th April 2020 with rent review in July 2023. Producing £10,000 pa.
Flat 1: First floor 2-bedrooms Let on an AST12 months commencing January 2020. Producing £13,200 pa.
Industrial 1,010 sq ft Tyre & Exhaust Centre. 6 years commencing 3rd September 2018 There is a tenants break clause at 3rd year upon 6 months notice and a landlords break clause upon 6 months notice anytime after the 3rd year. The lease excludes the L & T Act 1954 (Sections 24-28 inclusive). Producing £15,000 pa.
Total actual and estimated income: £49,700 pa.
Price: Offers are invited in excess of £825,000 for the benefit of the freehold interest and incomes derived.
Legal costs: Each party to be responsible for their own costs incurred.
* Sizes listed are approximate. Please contact the agent to confirm actual size.
For more information about this property, please contact Michael Berman & Co, N2 on +44 20 8033 5787 * (local rate)
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