Location On Map
PRIME HIGH STREET LOCATION – INVESTMENT FOR SALE
The property is situated in a prominent position at the intersection of Church Road and Brent Street, opposite Lloyds Bank and close to William Hill & other local retailers and restaurants of the area. Transport links are convenient with easy access to the M1 (Junction 2), the A406 North Circular Road, Hendon Central Station (London Underground Northern Line) and Hendon Station (National Rail). Numerous bus routes also serve the area.
The property comprises a ground floor & basement commercial unit with 3 self-contained flats on the first, second and third floors. There are also 4 x car parking spaces at the rear.
AREAS (ALL DIMENSION ARE APROXIMATE)
Ground Floor – Bank: 1,570 Sq. Ft (146 Sq M)
Basement – Strong Room: 575 Sq. Ft (53 Sq. M)
Total: 2,145 Sq. Ft (199 Sq M)
The commercial premises are let to National Westminster Bank PLC on a Full Repairing & Insuring lease for a term of 20 years from 10th June 2005 subject to 5 yearly rent reviews. The current rent is £42,500 pax. We have been advised that this branch has ceased trading. The flats above have been sold off on 125 Year Leases from 20th November 2012, producing £100 per flat / £300 per annum in total. Rent rises £150 every 25 years.
TOTAL INCOME: £42,800 per annum
Offers in excess of £1,000,000 – Subject to Contract
VAT not applicable.
Both parties to bear their own legal costs.
Under the Money Laundering Regulations Act 2004, we are obliged to verify the identity of proposed tenants prior to instructing solicitors in order to assist in preventing fraud and money laundering. This information is required by Law.
COMMERCIAL LEASE CODE
Christo & Co have advised their clients about The Code for Leasing Business Premises in England and Wales 2007. The code strongly recommends seeking professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement. The code is available via the website www.leasingbusinesspremises.co.uk
Strictly by appointment through owners’ Sole Agents as above
SUBJECT TO CONTRACT