SoldFreehold Shops & Upper Part For Sale - Winchmore Hill N21

Fully Let investment with passing rent of £27,800 pa

863-865-865A Green Lanes,  Winchmore Hill, LONDON N21 2QS

Features

  • Affluent and highly sought after North London location
  • For sale by auction if not sold prior
  • Fully let freehold mixed use investment
  • Total current passing rent: £27,800 pa
  • Reversionary rent
  • Gross internal area: 193.60 sq.m (2,084 sq.ft)
  • Excellent communications via road and rail
  • Winchmore Hill Rail Station: 500m

Guide Price £525,000 subject to contract

Location

The property occupies a prominent position within a local parade of shops at the northern end of Green Lanes (A105) between Vicars Moor Lane and Shrubbery Gardens, in the affluent north London suburb of Winchmore Hill. Occupiers in proximity include Little Waitrose, Tesco Express, The Post Office, Winchmore Hill Pre-School, as well as a broad selection of independent restaurants, shops and other businesses. The location has excellent communication links. Winchmore Hill Mainline Station is 0.5 km (0.31 miles) to the south-west of the property, which provides frequent direct services to London Moorgate Station (with a journey time of 28 minutes) and Finsbury Park Station (with a journey time of 15 minutes). Green Lanes is a major bus route and there are several bus services (including the 125, 329, N29), which stop in the immediate vicinity of the property.

Accommodation & Tenancies

Gross internal area 193.60 sq.m. /2083 sq.ft. 

Total income passing p.a.: £27,800

86336.03 sq.m. / 387 sq.ft.
Ground floor takeaway.
Let for 12 years from 24th June 2015
Income passing p.a. £7,800
86565.41 sq.m. / 704 sq.ft.
Ground floor hair salon.
Let on a single lease with 865a for 20 years from 1st September 2018. N.B. the total rent for both 865 and 865a is £20,000 per annum
Income passing p.a. £20,000
865a92.16 sq.m. / 992 sq.ft.
First floor, 2 bedroom flat.
See above

Description

The subject property is a mid-terrace two storey building, which comprises two ground floor retail units (863 & 865) and a self-contained two bedroom flat (865a), occupying the entire first floor.

863 Green Lanes – let for 12 years from 24th June 2015 at a passing rent of £7,800 pa, and with the next rent review being effective 24th June 2023. The property currently trades as an Asian takeaway food premises with customer waiting area to the front, commercial kitchen, stores and WC to the rear.

865 & 865a Green Lanes – let for 20 years from 1st September 2018 at a passing rent of £20,000 pa, and with the next rent review being effective 1st September 2022. The retail property (865) currently trades as a hair salon, and is configured to provide predominantly open plan salon space, with the addition of a rear WC and access to the rear paved and fenced yard. The residential flat (865a) is accessed via a separate entrance in the front elevation and comprises two bedrooms, separate kitchen, lounge, WC and bathroom.

Terms

Freehold for sale subject to the existing leases

Rateable value: £26,250

Estimated Rates Payable: £12,600 per annum

Service charge: n/a

Local authority: London Borough of Enfield


Property reference: 28696 Updated: 19 Nov 2021



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