SoldFully Let Freehold Retail Investment - Winchmore Hill N21

12-14 Wades Hill,  Winchmore Hill, LONDON N21 1BG

Features

  • Current rental income £43,000
  • Affluent north London location
  • Fully let and with potential scope for future rental uplifts
  • Upper parts sold off on long leases at a nominal / peppercorn ground rent
  • Businesses not affected
  • Shops fitted to a high specification
  • Guide price reflects a gross initial yield of 7.5%

Location

The properties are situated on the west side of Wades Hill just south of Wades Grove in a local retail parade serving an affluent and thriving residential area.

The parade forms part of The Green Conservation Area and lies a few metres from The Green. There are ample delineated pay and display parking bays in close proximity.

Winchmore Hill British Rail Station is within less than 250 metres and local bus routes serve the area.

Net internal area 190.62 sq.m. /2051 sq.ft. 

12 Wades Hill39.00 sq.m. / 419 sq.ft.
Let to 'The Fairies of London Tea Room'
14 Wades Hill151.62 sq.m. / 1632 sq.ft.
Let to 'Buff Hair and Beauty Limited'
12a - 14a Wades HillSold on long leases

Description

The properties comprise two separate self-contained ground floor retail units forming part of a three storey Victorian building within a smart retail terrace.

Both properties are have been fitted to a high standard specification and we believe there is scope to improve the rental income.

The two residential flats above 12a and 14a have been sold on long leases at a peppercorn or nominal ground rent.

The majority of the retailers in the area are long established and independently run businesses.

Terms

Freehold with the benefit of two commercial tenancies. 12 Wades Hill - Let to The Fairies of London Tea Room on a 3 year full repairing and insuring lease for a term expiring 23rd October 2014 at £12,000 per annum exclusive. 14 Wades Hill - Let to Buff Hair and Beauty on a 5 year full repairing and insuring lease for a term expiring 31st November 2016 at £31,000 per annum exclusive. The residential flats above 12a and 14a Wades Hill have been sold on long leases. Total Income £43,000 per annum exclusive

Service charge: The tenants contribute to the maintenance of the main structure of the building by way of the service charge levied by the freeholder.

Local authority: London Borough of Enfield


Property reference: 18115 Updated: 29 Aug 2013