Mixed use for sale
Property description & features
- Tenure: Freehold
- Prominent convenience store and residential investment located in North Finchley, a bustling suburb in north London.
- Converted and partly new built in 2017.
- Located within a densely populated residential catchment area, conveniently situated within a two-minute walk to North Finchley bus station, Finchley High Road and Tally Ho Corner.
- West Finchley and Woodside Park Underground Stations (Northern Line) are within easy walking distance.
- The property extends to 8,832 sq ft (820.55 sq m) over ground, first, second and third floors.
- Well configured convenience store providing 3,057 sq ft over ground floor
- The retail element is securely let to The Co-operative Group Food Ltd (sub-let to Goldstar GS Limited with 2 personal guarantees T/A Greens International Food Centre) for a term of 15 years from 2014
- Current passing retail income is £62,400 per annum.
- Rent reviewed 5 yearly in line with RPI annually compounded (1-4% cap and collar) next review 19th June 2024 - anticipated ERV £73,000 per annum assuming 4% in May 2024.
- 12 self-contained residential apartments all let to Blue Square Residential Limited let for a term of 5 years from 2022 expiring 5th February 2027. The lease is outside the Landlord and Tenant Act
The property converted and partly newly built in 2017, comprises a four-storey mixed use building featuring both retail and residential accommodation. The ground floor contains a single let retail premises, operating as a convenience store.
Externally there is demised parking provision for 4 vehicles demised to the retail accommodation. The residential accommodation is arranged over first, second and third floors. In total, there are 12 well maintained self-contained flats comprising 3 studios, 7 one-bedroom flats, and 2 two-bedroom flats.
Location
North Finchley is a popular and established suburb in North London within the London Borough of Barnet. The area is becoming increasingly desirable due to its connectivity to central London as well as its vibrant range of shops, bars and restaurants. North Finchley is becoming progressively popular with young professionals and families seeking a lively suburban location with quick access to Central London. Finchley also benefits from multiple high performing schools including Saint Michaels Catholic Grammar School and the Wren Academy.
Finchley benefits from several leisure/recreational amenities, namely The Arts Depot, an award winning cultural venue, incorporates a 395-seat theatre, hosting a variety of productions, art exhibitions and concerts.
In addition, the David Lloyd Complex Finchley has just undergone a £4.65m refurbishment programme and is situated on Great North Leisure Park, which is also home to a Vue multiplex cinema, Hollywood Bowl and a range of family restaurants. The nearby Victoria Park offers residents over 17 acres of green open space, complete with tennis courts, children’s playground, and café.
North Finchley is also well connected by road with several major routes linking Finchley to the M1 and North Circular as well as regular TFL bus services running between Central London and North Finchley bus station.
Availability_text
The accommodation comprises the following areas:
Property information from this agent
Places of interest
See more properties like this:
*DISCLAIMER
Property reference 213595-1. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Robert Irving Burns - Commercial.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.