Investment Properties: 47-49 Church Street, Enfield, London, EN2 6AN

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47-49 Church Street, Enfield, London, EN2 6AN

OIEO £1,900,000 subject to contract- Freehold

 

  • Ideally located on Enfield’s main retail pitch within close proximity of Enfield Town Train Station.
  • The building is arranged as retail on ground floor (A1), a first floor office (B1) and a 2 bedroom flat (C3) on the second floor.  
  • The building totals 5,575 ft2 and is split as follows: 

          Ground Floor Retail - 2,637 sq ft
          First Floor Office - 2,077 sq ft  
          Second Floor Flat - 861 sq ft

  • The building is let in its entirety to the undoubted covenant of Lloyds TSB Scotland PLC on a 15 Year from June 2005 – thus having approximately 2.58 years remaining.
  • Current Income: £99,965 pa.
  • Lloyds are no longer in occupation and have sublet to three individual tenants.
  • Freehold.
  • Offers are invited at a guide price of £1,900,000 (One Million Nine Hundred Thousand Pounds).
  • Assuming purchaser’s costs of 6.25%, this reflects a Net Initial Yield of 4.95% and a Net Reversionary Yield of 5.45% and a low capital value of £342 per sq ft.