Investment Properties: 2-4 The Broadway, Crouch End, London N8 9SN
2-4 The Broadway, Crouch End, London N8 9SN
OIEO £3,700,000 subject to contract - Freehold interest
- Affluent “London Village” located only 5 miles from Central London.
- The property is situated in the heart of Crouch End in a highly prominent and visible location.
- Extremely low vacancy rate.
- Comprises two prime shops and a children’s play centre with an outstanding frontage along The Broadway.
- Total accommodation of 9,487 sq ft / 881.37 sq m.
- Large ground floor retail units capable of sub-division.
- Freehold interest.
- Fully let to 3 tenants with a total rental income of £228,172 per annum.
- 80% of the rental income is secured to Superdrug Stores Plc (D&B 5A 1) and Waterstones Booksellers Limited (D&B 4A 2).
- Weighted Average Unexpired Lease Term (WAULT) of 7.4 years to Expiries and 3.4 years to Breaks.
- Let at modest rental levels set in 2016 & 2017.
- We are instructed to seek offers of £3,700,000 (Three million, seven hundred thousand pounds), subject to contract.
- This reflects a Net Initial Yield of 5.80%, based on purchasers’ costs of 6.52%, and a Capital Value of £390 per sq ft overall.