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Retail / Motor Showroom Premises, 254-256 Watford Way, Hendon, NW4 4UJ

2,000 to 2,585 Sq Ft / Retail / Motor Trade - showroom

For Sale - £1,500,000.00

To Let - £45,000.00 per annum

Available - Last updated: 10 June 2024

Comprises a double shop unit which has been for many years used as a car showroom and has been fitted to an extremely high standard.

Location

The premises are situated in a very prominent position at the junction of the Watford Way (A41) and Greyhound Hill offering a high exposure to passing vehicles on this busy main road.

Accommodation

Frontage - 45’ 3
Maximum internal width - 41’ 2 narrowing to 17’
Shop depth - 68’ 6
Ground floor area - 2,000 sq ft approx
In addition, 10 – 15 car spaces are available in a basement car park in an adjoining building for sale or to let.

Terms

LEASE - A new full repairing and insuring lease to be granted for a term by arrangement subject to upward only rent reviews at 5 yearly intervals if applicable.
 
RENT
Shop only: £45,000 per annum exclusive.
Car parking: £25,000 per annum exclusive.
 
Alternatively
 
TENURE - Freehold for sale with vacant possession of the double shop. The residential upper part comprises 2 x studio flats and 1x 2 bed flat let on ASTs producing a total income of £52,800 per annum.
 
PRICE - £1,500,000
The basement car park is held on a long lease with 94 years remaining and is available to purchase for £200,000.
 
RATES - Obtained from the www.voa.gov.uk website the showroom premises has a rateable value of £31,500 with rates payable for 2024/2025 are £15,718 per annum. Retail, hospitality and leisure uses currently are legible for rates relief of 75%. Interested parties should confirm annual rates payable with the Rating Authority.
 
EPC - To be confirmed.
 
LEGAL COSTS - Each party to be responsible for their own costs incurred.

 

Specification

  • Large skylight
  • Tiled flooring
  • Sodium & spot lighting
  • Air conditioning
  • Rear electric roller door leading to service road

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
254-256 Watford Way, Hendon NW4 4UJ - Former car showroom & flats above. For Sale Freehold £1,500,000.00 NA
254-256 Watford Way, Hendon NW4 4UJ - Former car showroom to let To Let £45,000.00 per annum

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Agency Team

Michael Berman & Co

020 3151 2953



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