250 YEAR VIRTUAL FREEHOLD SHOP INVESTMENT IN HENDON LONDON Reference No: I7545J
Price:
£ 300,000
Description
LOCATION: Situated in a large parade of local shops on busy main road with excellent passing trade. Close to A41 and surrounded by densely populated area. Bus routes pass the cafe.
DESCRIPTION: Mid parade premises has been fully refurbished by the present tenants at a cost of over £150,000. Internally the premises measures approximately 580 sq ft There is also a separate garage rented out separately as storage and is available if purchasing the main restaurant premises.
TENURE: FREEHOLD INVESTMENT Held on a 275 Year lease with 250 years remaining on peppercorn rent and is currently sub-let on a 20 year lease from 29 sept 2017 with 4 yearly rent reviews. producing a rental income of £18,000 pa (presumed rent income at next review in 2021 is £25,000 pa).
A detached garage (held on a separate title) currently produces £2,880 pa (paid monthly).
RATES: Business rates payable by tenant is approximately £6,292 per annum
PRICE: £330,000 excluding the garage. The garage (held freehold) is available for £25,000 if purchasing the main property)
COMMENTS: PLEASE DO NOT APPROACH THE PRESENT TENANTS AT ANY TIME WITHOUT WRITTEN CONSENT.
NEGOTIATIONS: Strictly through PEGASUS BUSINESS SALES on 0207 935 3939