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Brent Street, Hendon NW4

For sale
  • Ideally located on Brent Street, one of Hendon’s main retail destinations, only 0.7 miles from Hendon Central Tube Station (Northern Line).
  • Sami’s has been serving the local community for over 35 years with a total of three branches across north-west London.
  • The restaurant has and continues to trade during the Covid-19 pandemic with no missed rent payments.
  • The ground floor is let on a commercial lease until 5th January 2025 and has a passing rent of £24,000 which is payable yearly.
  • The lease is contracted out of sections 24-28 of the Landlord and Tenant Act 1954.
  • The upper parts are arranged over first and second floors as an eight-unit HMO.
  • All the units are self-contained including their own kitchenettes and ensuite shower facilities plus additional communal kitchens and bathrooms on each floor.
  • Total GIA = 2,779.9 sq ft / 258.3 sq m.
  • Total NIA = 2,262.1 sq ft / 210.2 sq m.
  • The HMO produces a passing rent of £66,600 pa with two rooms currently vacant.
  • Therefore, the total passing rent is £90,600 pa and the ERV on full occupation is in the region of £112,000 pa.
  • Planning permission was granted (Barnet Council ref: 18/0006/FUL) on appeal for a loft conversion to accommodate a 1 x 1 bed self-contained flat.
  • VAT is not applicable.
  • Freehold.
  • Guide Price - £1,700,000 (One Million, Seven Hundred Thousand Pounds) subject to contract, which equates to an NIY of 5.02%and a NRY on full occupancy of 6.20%.
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