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Investment for Sale on 0.41 Acre Freehold Site - Barnet EN4

Significant development / site assembly potential

  • For sale
  • For sale
  • For sale
  • For sale
  • For sale
  • For sale
  • For sale
  • For sale
  • For sale
  • For sale

Location

The subject property is located on the north-east side of East Barnet Road (A110) just north-west of the junction with Margaret Road and south-east of the junction with Station Road.

The property is situated to the rear of the Shell Petrol Filling Station, on the opposite side of the road to Sainsbury's.

The area provides a good range of bars, restaurants, leisure, shopping and entertainment facilities.

The property is well served for transport communications with New Barnet Railway Station located circa 200 metres to the west of the subject property, providing regular services to Finsbury Park Station (journey time 19 minutes) and Moorgate Station (journey time 30 minutes). East Barnet Road is a major bus route along which there are numerous services (184, 307, 326, 383 and 384) running at frequent intervals, providing easy access to Enfield, Wood Green, Whetstone, Finchley, Barnet, Brent Cross Shopping Centre and Cockfosters, amongst others. There is easy access to main road communications including the North Circular Road (A406), M1, M25 and A1M.



Property reference:24165    Updated: 20 Apr 2020


65 A, B and C East Barnet Road, 
BARNET EN4 8RN

Offers in excess of £1,700,000 subject to contract


Features

  • Fully let industrial investment
  • Current passing income £86,000 pa
  • 0.41 acre site with significant development and further site assembly potential
  • Existing built space with a gross internal area of 856.73 sq.m (9,222 sq.ft)
  • Highly desirable and affluent North London location
  • New Barnet Railway Station only 200 metres to the west
  • 30 mins travel time via Great Northern railway services from New Barnet Station to London Moorgate
  • Alternative use potential subject to planning consent


The property comprises a fully let complex of mainly single storey buildings with a combined gross internal area of 856.73 square metres (9,222 square feet), arranged on a site of 0.41 acres.

The property benefits from rights of way over the western side of the Shell petrol station forecourt, as indicated by the brown shading on the OS plan.

Notwithstanding further site assembly potential, the property has significant development potential and may be suitable for a number of alternative uses, subject to the necessary planning consent.

65 A East Barnet Road comprises a single storey brick built workshop / factory / office building being occupied by a sign manufacturer and installation company.

65 A(I) is being used for storage in conjunction with the business in occupation of 65 A but has historically been used for car bodywork and repair.

65 B & C East Barnet Road comprises two separate buildings being operated as a vehicle repair workshop and MOT Testing Centre.

Details of the lettings are shown in the table below and copies of the leases are available to download from the Gilmartin Ley website.

Viewings

By prior appointment with Gilmartin Ley, telephone 020 8882 0111.

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Accommodation

65 A East Barnet Road 266.95 sq.m. / 2873 sq.ft.
Let to N & N Signs Limited on a fully repairing and insuring lease dated 14th June 2011 expiring on 14th December 2025 with a current passing rent of £22,000 per annum. There are fixed rent reviews at the expiration of the first, fourth and eighth years of the terms. The next rent review is on 14th December 2021, when the rent will increase to £24,000 per annum.
65 A(I) East Barnet Road 61.88 sq.m. / 666 sq.ft.
Let to N & N Signs Limited by separate agreement with a passing rent £6,000 per annum.
65 B&C East Barnet Road 527.90 sq.m. / 5682 sq.ft.
Let to D Gee Limited on a fully repairing and insuring lease dated 9th September 2005 expiring on 31st August 2026 with a current passing rent of £58,000 per annum. There are upwards-only rent reviews to open market rental value on 1st September 2008 and three yearly thereafter. The rent review dated 1st September 2017 has not yet been triggered.
Site area 1659.2 sq.m. /17859 sq.ft. / 0.41 acres 

Terms: Freehold for sale subject to the various leases/licences as described above and copies of which are available to download from the Gilmartin Ley website. Please note this property is elected for VAT.

Service charge: N/A

Local authority: London Borough of Barnet