Current Instructions

Residential Development

High Road, North Finchley, London N12

Available
DESCRIPTION
  • Highly desirable freehold commercial investment opportunity located on North Finchley High Road.
  • Fully let on two FRI leases, producing a total passing rent of £138,693 per annum.
  • Ground Floor is let to Multi Tile Limited (T/A Topps Tiles) on a lease expiring in 2030 (no breaks).
  • First and Second Floors are arranged as an office and let to a private accountancy practice on a lease expiring in 2034 (mutual break in 2030).
  • Total accommodation of approximately 6,085 sq ft on a site of approximately 0.092 hectares (0.23 acres), including a substantial rear car park.
  • Significant value add potential: our client has conducted a feasibility study for a residential scheme (can be provided on request).
  • The property is elected for VAT and is anticipated to be sold as a TOGC (transfer of a going concern).
PROPOSAL

Guide Price : £1,750,000
subject to contract

NET INITIAL YIELD

7.46%

CAPITAL VALUE

£288 psf

Freehold Commercial Investment Opportunity with Significant Development Potential on a Substantial Site
Key features
Fully let, currently producing £138,693 p.a.
Ground Floor let to Topps Tiles, First & Second Floors arranged as offices
Value add potential - feasibility study for a residential scheme available on request
Net Initial Yield of 7.46%
Low Capital Value of £288 per sq ft
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