244 Kentish Town Road London NW5 2AB

244 Kentish Town Road
London
NW5 2AB

Freehold Restaurant and Residential Investment

Retail let until 2034 (No breaks)
Includes 3 residential flats, two with approximately 77 years unexpired
Fashionable and Affluent North London suburb
Approximately 120 metres south of Kentish Town Underground (Northern Line) and Overground Station
Nearby occupiers include McDonalds, Superdrug, Sainsbury’s Local and Costa
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
2
Auction
16th February 2017
Rent
£40,150 per Annum Exclusive
Status
Sold
Price
£985,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Restaurant and Residential Investment

Retail let until 2034 (No breaks)
Includes 3 residential flats, two with approximately 77 years unexpired
Fashionable and Affluent North London suburb
Approximately 120 metres south of Kentish Town Underground (Northern Line) and Overground Station
Nearby occupiers include McDonalds, Superdrug, Sainsbury’s Local and Costa
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 2
Auction 16th February 2017
Rent £40,150 per Annum Exclusive
Status Sold
Price £985,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 1 mile north of Camden, 1.3 miles north east of Regent’s Park, 2.4 miles north of Londons West End
Roads: A1, A400
Rail: Kentish Town Underground Station (Northern Line), Kentish Town Overground Station
Air: London City Airport, London Heathrow Airport

Situation

Kentish Town is a fashionable and affluent north London suburb approximately 2.4 miles north of London's West End. The property is situated on the east side of busy Kentish Town Road, close to its junction with Holmes Road and some 120 metres south of Kentish Town Underground and Overground Station. Neighbouring occupiers include McDonald's directly opposite, Superdrug, Sainsbury's Local, Co-operative Food and Costa.

Tenure

Freehold.

Location

Miles: 1 mile north of Camden, 1.3 miles north east of Regent’s Park, 2.4 miles north of Londons West End
Roads: A1, A400
Rail: Kentish Town Underground Station (Northern Line), Kentish Town Overground Station
Air: London City Airport, London Heathrow Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor restaurant with basement ancillary accommodation and 3 self-contained residential flats on the first, second and third floors, two of which are let on 99 year leases with approximately 77 years unexpired. The property benefits from rear access off Wolsey Mews and may further benefit from longer term residential redevelopment at the rear of the property, subject to consents.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

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
Ground Basement	Retail Ancillary	94.58 sq m 49.48 sq m	(1,018 sq ft) (533 sq ft)	INDIVIDUAL (t/a Renoir Bistro) (1)	20 years from 25/12/2014 until 2034	£40,000	25/12/2019 25/12/2024 25/12/2029
First, Second & Third	Residential	3 x Self-Contained Flats		INDIVIDUALS	2 x 99 years and 1 x 189 years from December 1993 (2)	£150 (3)
Total Commercial Area		144.06 sq m	(1,551 sq ft)			£40,150

(1) There is a current license to assign being negotiated for the commercial lease.
(2) The seller has served a notice on the residential tenants, pursuant to Section 5B of the Landlord and Tenant Act 1987.
(3) The rent doubles every 33 years.