Lot 2 Click here for addendum
Commercial Investment – Gross Yield 8%
6 Week Completion
Situation
Located close to the junction with Tufnell Park Road in this shopping parade which includes a Budgens and a Post Office and a variety of independent traders, all serving this sought after neighbourhood and within close proximity to Tufnell Park Underground Station (Northern Line).
In addition, the varied multiple shopping facilities of Holloway Road are approx. ½ a mile distant.
Tufnell Park is a popular residential area well located for both the West End and the City of London.
Property
Forming part of a mid-terraced building comprising a Ground Floor Café and Basement.
Accommodation
Ground Floor Café
Gross Frontage 14'2”
Internal Width 14'0”
Shop & Built Depth 27'2”
Basement
Kitchen Area Approx. 304 sq ft
WC
Total GIA Approx. 805 sq ft
VAT is NOT applicable to this Lot
Tenure
Leasehold for a term of 999 years from 2nd February 2021 at a peppercorn ground rent.
Tenancy
The property is let on a full repairing and insuring lease to Wolf Kitchen Ltd (with personal guarantor) t/a Bear + Wolf Café (having 2 branches) for a term of 12 years from 22nd June 2015 (excl. s.24-28 of L & T Act 1954) at a current rent of £21,945 per annum exclusive.
Rent Review June 2024
Mutual Break September 2024
Note 1: There is a £5,486.25 Rent Deposit held
Note 2: There may be potential one day to convert the property into residential, subject to planning and possession.