Investment Properties: 2-4 The Broadway, Crouch End, London N8 9SN

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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.
  • Adjacent to Hornsey Town Hall redevelopment by Far East Consortium.
  • 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 7.17 years to Expiries and 3.17 years to Breaks.
    • Let at modest rental levels set in 2016 & 2017.
  • We are instructed to seek offers in the region 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.