Fixed price
£500,000
Land for saleFinchley Road, Temple Fortune NW11
Auction
About this property
Finchley Road, Temple Fortune Nw11
Freehold Investment For Sale - Comprising a freehold building with the ground floor let and income producing to a footwear retailer trading as M&M Shoes Limited (established 40 years). The ground floor has been substantially extended to the rear to create further storage. The upper part is arranged as a residential flat over two floors with an entrance to the front of the building. This is sold off on a long lease for a term expiring 28/09/2170 (approximately 144 years remaining) at a peppercorn ground rent.
Tenancies:
Terms:
£500,000 for the freehold interest subject to the current tenancies.
Freehold Investment For Sale - Comprising a freehold building with the ground floor let and income producing to a footwear retailer trading as M&M Shoes Limited (established 40 years). The ground floor has been substantially extended to the rear to create further storage. The upper part is arranged as a residential flat over two floors with an entrance to the front of the building. This is sold off on a long lease for a term expiring 28/09/2170 (approximately 144 years remaining) at a peppercorn ground rent.
Tenancies:
- Ground Floor Shop
- Let on a full repairing and insuring lease from 5th September 2021 to 4th September 2036 (term 15 years) at £28,000 pa. There is a rent review on 5th September 2026 (outstanding) and 5th September 2031. There is a tenant option to break on 9th November 2026 subject to 6 months notice, which has not been exercised.
- Residential Upper Part
- The upper part is sold off on a long lease for a term expiring 28/09/2170 (approximately 144 years remaining) at a peppercorn ground rent.
Terms:
£500,000 for the freehold interest subject to the current tenancies.
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Monthly repayment
£2,501 per month
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