SoldFreehold Mixed Use Investment with Development Potential - New Barnet EN4
Of interest of owner occupiers, investors and developers
Battle House,
1 and 1a East Barnet Road, NEW BARNET EN4 8RRThe subject property is located in New Barnet on the northern side of East Barnet Road just to the west of the railway bridge and on the corner of Lytton Road.
The area provides a good range of bars, restaurants, leisure, shopping and entertainment facilities. Local occupiers in the immediate vicinity include, PureGym, Sainsburys / Argos, The Post Office, Shell Garage and a number of cafes, pubs & independent retailers.
Public Transport communications are excellent with New Barnet Railway Station only 150m to the South of the property, which provides direct and regular services to London Moorgate (c.28 minutes journey time), Finsbury Park (c.12 minutes journey time) and Welwyn Garden City (c.20 minutes journey time). Additionally, numerous bus services run along A110 (Station Road / East Barnet Road).
Accommodation
Net internal area 609.80 sq.m. /6563 sq.ft. | Total income passing p.a.: £39,150
| Fourth Floor Office | 15.60 sq.m. / 167 sq.ft.
Small centrally heated office with access to flat roof.
Vacant
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| Third Floor Office | 125.20 sq.m. / 1347 sq.ft.
Predominantly open plan offices with central heating and kitchen.
Vacant
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| Second Floor Office | 126.90 sq.m. / 1365 sq.ft.
Open plan and partitioned offices with central heating, suspended ceilings, kitchen & staff breakout area.
Vacant
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| First Floor Office | 123.20 sq.m. / 1326 sq.ft.
Partitioned offices with central heating, suspended ceilings, wall & ceiling mounted comfort cooling units and kitchen.
Vacant
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| Ground Floor Bettting Shop | 104.50 sq.m. / 1124 sq.ft.
Betting shop
Let to Done Brothers (Cash Betting) Ltd on effective FRI terms for 5 years from 29th September 2017 (c.1.5 months remaining).
Income passing p.a. £24,000 |
| Basement Office | 114.40 sq.m. / 1231 sq.ft.
Fitted out as a recording/rehersal music studio.
Let to Blackbook Music Ltd on effective FRI terms for 10 years from 24th June 2019 (c.6.85 years remaining).
Income passing p.a. £14,950 |
| Battle House Mews | Residential block (Battle House Mews) comprising 5 flats.
The leases for Flats 3-4 are for 99 years from 25th March 1987 (therefore 64 years remaining). The total ground rent produced by these flats is £200 pa, which increases to £400 pa in 2037 and £800 in 2062. The leases for Flats 1, 2 and 5 have 154 years unexpired and produce a peppercorn ground rent.
Income passing p.a. £200 |
The property is principally a purpose-built office building. The building dates from the late 1980s and provides recording/rehersal music studio accommodation at basement level, betting shop at ground floor, and offices at first to fourth floors.
Attached to the office building and included within the freehold interest is a residential mews with its own entrance and comprising 5 flats which have been sold off on long leases.
The ground floor betting shop is let at £24,000 pa until September 2022 and the basement studio at £14,950 pa until June 2029.
The office building has a 6 person, 450kg lift which serves ground to third floors. The small fourth floor office is accessed via a staircase from the third floor landing.
The property includes a rear car park with approximately 16 spaces of which 3 are in the undercroft area. One car space has been sold off with the flats, no. 14, which is demised with the lease of flat 5.
Copies of the leases are available to download from our website.