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Wembley - 5 Neeld Parade
20/Feb/2008 - Wembley - A-Landlord
For the freeholder, for whom I have acted since 1978, dealing with rent reviews and leasing matters arising, I arranged sale of the freehold interest in 5 Neeld Parade, Wembley by auction, in conjunction with Barnett Ross, on 20 February 2008 - Lot 28
At the junction with High Road and adjoining William Hill, and approximately 100 yards from the southern approach walkway to the new Wembley Stadium and Wembley Stadium Station, the property is a ground floor shop with first floor rear storage, and self-contained 5KB flat on two floors above.
The shop has A3 use (restaurant/coffee bar).
Gross frontage 20'5"
Net frontage 14'9" widening to 17'2"
Shop depth 55'4"
Built depth 100'11"
Rear storage, approximately 180 sqft
The entire property is let for 20 years from 25 December 1989. The passing rent £14,000 was fixed in 1990 and no action was taken for the 2005 rent review. The lease expires in 2009.
The guide price was £350,000 and the property was sold for £595,000. In addition, the buyer paid my Client approximately £7000 for arrears of rent.
Barnett Ross has 60 years experience, I have 40. Our combined 100 years experience added-up, to quote Barnett Ross's post-auction comment: "2.4% What a price!!! Defies valuation"
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At the junction with High Road and adjoining William Hill, and approximately 100 yards from the southern approach walkway to the new Wembley Stadium and Wembley Stadium Station, the property is a ground floor shop with first floor rear storage, and self-contained 5KB flat on two floors above.
The shop has A3 use (restaurant/coffee bar).
Gross frontage 20'5"
Net frontage 14'9" widening to 17'2"
Shop depth 55'4"
Built depth 100'11"
Rear storage, approximately 180 sqft
The entire property is let for 20 years from 25 December 1989. The passing rent £14,000 was fixed in 1990 and no action was taken for the 2005 rent review. The lease expires in 2009.
The guide price was £350,000 and the property was sold for £595,000. In addition, the buyer paid my Client approximately £7000 for arrears of rent.
Barnett Ross has 60 years experience, I have 40. Our combined 100 years experience added-up, to quote Barnett Ross's post-auction comment: "2.4% What a price!!! Defies valuation"
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