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Retail leisure and office opportunity

London, United Kingdom

90%

£15.500.000

Mixed use

#34115

Core+

28 Oct 2024

Property Details

Broker

For sale

60,545 sq.ft.

5,625 m²

Leasable area

256 £/sq.ft.

2,755 £/m²

6.86 %

7

Leasehold

979

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

North Finchley is located less than 10 miles from central London and is a prosperous residential and commercial area within the London Borough of Barnet. This mixed-use building, constructed in the 2000s, comprises five ground floor retail units with gym, office and dance studio accommodation over the 2nd and 3rd floors along with a 233 space double basement car park. Retail and offices let to seven tenants with a Weighted Average Lease Term of 4.23 years to expiry and 4.06 years to break. The Property is held on a 999 year lease from 29th September 2004 at a peppercorn rent. Potential opportunity to agree a new long lease with Aldi Stores Limited who trade successfully from this location.