Lease for Sale
A1 SHOP WITH 3-4 BEDROOM FLAT
The Broadway, Mill Hill, London NW7
(Reference No. 023920)
Situated in a good position on The Broadway, Mill Hill close to other multiples such as Natwest, Boots the Chemist, Santander, Costa, Iceland and various other multiple and independent retailers. Mill Hill Network Rail station is a short walk away and A41 Watford Way is approximately 400m north of the property.
Lock-up shop premises which has been trading as a dessert bar/café. Suitable for continued use or for a variety of uses, subject to the necessary consents. The premises have an over-riding lease to include the residential flat on the upper floor. The rental from the flat above covers the bulk of the lease for the shop and thereby any operator of the shop could have an excellent position in the High Street at a substantially reduced net rent.
The entire building is held on a lease for a term of 15 years which expires 29th September 2023 (approx 5 years remaining) at £20,000 pa. The lease is within the Landlord & Tenant Act and is renewable. There is currently an outstanding rent review which our clients hope to settle at approx £23,000 pa for the whole building. (The residential upper part which comprises a self-contained 3-4 bedroom flat with roof terrace is let on an AST for a term of 12 months from July 2017 - please contact us for further details). The rental income from the flat substantially mitigates the rental for the shop.
£55,000 is sought for the benefit of the lease.
|Subject to Contract
Tel: 020 8559 1122