Residential Portfolio in NW9

**Being sold via Secure Sale online bidding. Terms & Conditions apply**

This property will be legally prepared enabling any interested buyer to secure the property immediately once their bid/offer has been accepted. Ultimately a transparent process which provides speed, security and certainty for all parties.

Freehold Investment Opportunity

An excellent mixed-use mid terraced building comprising a ground floor retail unit with a self-contained flat above and a separate self contained flat to the rear situated on the bustling Edgware Road (A5). The property generates a strong rental income and offers long-term investment potential.

The Freehold includes:

(Shop) – Currently let and producing £17,650 per annum, with approximately 8 years remaining on the lease and rent reviews included.
(Ground Floor Flat) – Owned and tenanted by client, producing £13,200 per annum.
(First Floor Flat) – Sold on a long leasehold with approximately 60 years remaining on the lease.

Total Current Income: £30,850 per annum (excluding the sold flat)

The tenant of the Restaurant also trades from the adjoining unit (No. 275) which interconnects with No. 277 at ground floor level, but No. 275 is not included with the Freehold being offered.

Please note we have not inspected the property.

Location

The property is located in Colindale, a suburban area of North West London, within the London Borough of Barnet, and is known for its excellent transport links, particularly via the Northern line at Colindale Underground station. The area offers a mix of residential properties suitable for families and offers convenient access to Central London.

Accomodation

(Shop) – Currently let and producing £17,650 per annum, with approximately 8 years remaining on the lease and rent reviews included. (Ground Floor Flat) – Owned and tenanted by client, producing £13,200 per annum. (First Floor Flat) – Sold on a long leasehold with approximately 60 years remaining on the lease.

Tenure

Freehold - title number MX187491

Rateable Value

Available via VOA

Council Tax

277a - Band B 277b - Band C

EPC

Available upon request - Ratings: 277 - C 277a - D 277b - D

Additional Information

For further information please contact our office directly on 0191 737 1154, or alternatively va email on commercial@pattinson.co.uk. With regards to viewing subject property, this is to be done strictly by appointment.

This property is being sold subject to unconditional reservation fee auction terms and conditions.

Timescales

Contracts will exchange immediately. There are 28 days in which to complete the purchase.

Legal Pack

A legal pack is available to download. Special conditions may apply.

We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.

Deposit

In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.

The deposit is non-refundable.

Buyer Fees

This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £6,000 + VAT (£7,200 inc VAT) This does not form part of the purchase price.

A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.

More Information

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

ONLINE AUCTION NOTICE

I hereby acknowledge and confirm the following:

My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.

If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.

Any amount payable at the close of the auction must be paid within 1 hour.

Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.

Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.

Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.

The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.

It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.

The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.

Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid

Please note this bidding process applies specifically to online auctions.

More Information is available:

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

Please log in to view and download the legal pack files.

Get a free valuation that fits your needs.

Whether you’d like an instant online estimate or an expert visit to discuss your home in detail, our team will give you clear, honest advice and help you plan your next move.

Free Expert Home Visit Valuation Get an Instant Online Valuation

These results are for a repayment mortgage and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Stamp Duty Land Tax rates are based on UK government guidelines and are subject to change. This calculator is for guidance only. Please consult a qualified professional for advice on your specific circumstances.