Titan Court, constructed circa 2014, comprises a high-class residential development of 42 luxury private apartments together with commercial accommodation on the ground floor (Class E) operating as an Anytime Fitness gym, accessed from Flower Lane.
Location
Mill Hill is a popular and affluent North London suburb within the London Borough of Barnet and is located approximately 10 miles North West of Central London. Barnet is the second largest Borough by population with approximately 389,000 residents.
Mill Hill Broadway has excellent transport links being close to M1, A1 & M25 motorways.
Mill Hill mainline station (Thameslink) within a close walk provides a speedy service to Central London.
Titan court is located on the corner of Hartley Avenue and Flower Lane by the junction of The Broadway and is served by many national and independent shops, restaurants and coffee bars including Marks & Spencer, Gails, Pizza Express, Boots etc.
Accommodation
The premises have a floor area of 6,280 sq ft approx.
Terms
TENANCY & INCOME - Let to Spareryb Enterprises Ltd, a franchisee of Anytime Fitness on a full repairing and insuring lease for a term of 15 years commencing September 2015.
The current rental is £128,189.88 per annum exclusive. A £45,000 rent deposit plus VAT is held, refundable subject to 3 consecutive years showing a net profit of 2.5 x of the annual rent.
TENURE - Held for a term of 150 years (less 3 days) commencing 9 May 2012 at a ground rent of £2,145.26 per annum doubling every 25 years.
PRICE - Offers in excess of £1.45 million (One Million Four Hundred & Fifty Thousand Pounds), subject to contract.
VAT - The property has been elected for VAT. It is anticipated that the sale will be treated as a transfer of a going concern (TOGC).
LEGAL COSTS - Each party to be responsible for their own costs incurred.