LATIMER HOUSE

Potters Bar

£1,675,000 Guide Price

OVERVIEW

Property Details

Offers are invited for the freehold interest in this 3 storey building, which currently comprises 3 lock up commercial units at ground floor level, with residential uppers.

The first floor comprises 3 newly converted flats, which have been let on Assured Shorthold Tenancies, but will be available with vacant possession on completion if required.
The second floor flats are sold off on long leases – see schedule overleaf.

There is a gated drive through under croft leading to a rear car park, and 4 garages en-bloc, with up & over doors. The garages are currently let and income producing,
but available vacant if required.

This is a rare opportunity to acquire the freehold of the entire building, which offers further scope for roof top and possible rear extensions, subject to obtaining the necessary consents.

GROUND FLOOR – Commercial Units
Di Napoli – 197a 15 year lease from June 2015 – passing rent £13,000 PAX

Former Sugarloaf Unit – 195a. Recently re-let, and in the process of being fitted out as a furniture show room.
5 year lease from May 2018 – passing rent £14,000 PAX

A & D Mini Market – 193a
12 year lease from March 2015 – passing rent £14,000 PAX

*Further details available upon request.

FIRST FLOOR – 3 New Flats
No. 189 is a 2 bedroom flat approached via own street entrance door. The energy performance certificate gives a floor area of 111m² (1194.8ft²). Previously let at £15,600 PA.

No. 189b is approached via stairs to the rear, and is configured with 1 bedroom. The energy performance certificate gives a floor area of 54m² (581.3ft²). Previously let at £12,000 PA.

No. 189a is approached via stairs to the rear, and is configured with 2 bedrooms. The energy performance certificate gives a floor area of 69m² (742.7ft²). Previously let at £13,800 PA.

SECOND FLOOR (Sold on Long leases) – Rear Staircase Entrance

No. 197 – 125 year lease from June 1987 (appx. 94 years remaining).
No. 195 – 125 year lease from June 1987 (appx. 94 years remaining).
No. 193 125 year lease from June 1987 (appx. 94 years remaining).
No. 191 – lease extended. 153 years from June 1987 (appx. 122 years remaining).

We are advised that each of the 4 top floor flats currently pay an annual ground rent of £150.

4 garages – currently let and income producing (£3,840 PA combined)

Available with vacant possession if required.

Offers are invited for the entire freehold demise.
Any party submitting an offer must confirm the following;
• Offer amount
• Confirmation of how the purchase is to be funded
• Name of buyer, along with proof of identity of the individual/directors of a company.
• Confirmation of solicitor’s full details
• Proposed timeframe for exchange & completion.
• Any conditions (vendor is not looking for offers to be made conditional
upon planning consent).

For further information, please contact Maunder Taylor sales team on: 020 8446 0011


To View:
Call : 020 8446 0011
Email : sales@maundertaylor.co.uk

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