2-4 The Broadway Crouch End, London N8 9SN
England, • Retail • £3,700,000
About this listing
• Affluent “London Village” located only 5 miles from Central London. • The property is situated in the heart of Crouch End in a highly prominent and visible location. • Extremely low vacancy rate. • Comprises two prime shops and a children’s play centre with an outstanding frontage along The Broadway. • Total accommodation of 9,487 sq ft / 881.37 sq m. • Large ground fl oor retail units capable of sub-division. • Freehold interest. • Fully let to 3 tenants with a total rental income of £228,172 per annum. • 80% of the rental income is secured to Superdrug Stores Plc (D&B 5A 1) and Waterstones Booksellers Limited (D&B 4A 2). • Weighted Average Unexpired Lease Term (WAULT) of 7.4 years to Expiries and 3.4 years to Breaks. • Let at modest rental levels set in 2016 & 2017. • We are instructed to seek offers of £3,700,000 (Three million, seven hundred thousand pounds), subject to contract. • This reflects a Net Initial Yield of 5.80%, based on purchasers’ costs of 6.52%, and a Capital Value of £390 per sq ft overall.
NIY (on NOI)