23 / 25 Swain's Lane Highgate London N6 6QX

23 / 25 Swain's Lane
Highgate
London
N6 6QX

Freehold Retail and Residential Investment

Retail let to Tesco Stores Limited until 2023 (subject to option)
Highly affluent North London suburb
Prominent corner position in residential neighbourhood
Approximately 140 metres east of Hampstead Heath
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
4
Auction
19th May 2016
Rent
£41,230 per Annum Exclusive
Status
Sold
Price
£1,005,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail and Residential Investment

Retail let to Tesco Stores Limited until 2023 (subject to option)
Highly affluent North London suburb
Prominent corner position in residential neighbourhood
Approximately 140 metres east of Hampstead Heath
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 4
Auction 19th May 2016
Rent £41,230 per Annum Exclusive
Status Sold
Price £1,005,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 3 miles north of Regent’s Park, 4 miles north of Central London
Roads: A1, A406 (North Circular) Road, M1
Rail: Tufnell Park Underground Station (Northern Line)
Air: London City Airport, London Heathrow Airport, London Gatwick Airport

Situation

The property is situated in a prominent corner position on the north side of Swain’s Lane and at its junction with the entrance to the Holly Lodge Estate, in a highly affluent North London suburb and some 140 metres east of Hampstead Heath.

Tenure

Freehold.

Location

Miles: 3 miles north of Regent’s Park, 4 miles north of Central London
Roads: A1, A406 (North Circular) Road, M1
Rail: Tufnell Park Underground Station (Northern Line)
Air: London City Airport, London Heathrow Airport, London Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises a double fronted retail unit on the ground floor and 4 self-contained residential flats on the first and second floors. The flats are accessed from the front and side of the property.

Planning permission was granted for the redevelopment of a neighbouring block for a new commercial redevelopment and new residential development, which will further enhance the attraction of the retail destination. See London Borough of Camden Planning Reference 2013/6674/P for further details.

Six Week Completion

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews/Reversion
Ground	Retail	209.59 sq m	(2,256 sq ft) (4)	TESCO STORES LIMITED (1)	15 years from 25/03/2008 until 2023 (2)	£41,000	25/03/2018 (24/03/2023)
First & Second	Residential	4 x Self-Contained Flats		INDIVIDUALS	3 x 125 years from 1987 1 x 125 years from 2016 (3)	£230	3 are reviewed in 2037 and 1 in 2041
Total Commercial Area		209.59 sq m	(2,256 sq ft)			£41,230

(1) Tesco is one of the largest supermarket chains in the UK, with over 3,500 stores and over 310,000 employees. (Source: www.tescoplc.com)
(2) The lease provides for a tenant option to determine the lease on 24th March 2018.
(3) The seller has served a notice on the residential tenants, pursuant to Section 5B of the Landlord and Tenant Act 1987.
(4) The floor area stated above is stated in the lease for rent review purposes.