2 - 4 The Broadway
Crouch End
London
N8 9SN

Well Let Retail Investment in Affluent North London Suburb

  • Majority of income secured by Superdrug Stores Plc and Waterstones Booksellers Limited
  • Prominent corner position within a busy retail location
  • Affluent London suburb
  • Nearby occupiers include Waitrose, Costa Coffee, Boots and Foxtons
  • Rent rising from £228,172 pax to £236,842 pax in 2021
  • Lot
    16
  • Auction
    23/May/2019
  • Rent
    £228,172 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
Important Auction & Property Update
  • 2 - 4 The Broadway<br>Crouch End<br>London<br>N8 9SN
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* More information on the term "price" can be found here

Property Information

Location
Miles
5.5 miles north of the City of London
Roads
A1, A1201, A503
Rail
Crouch Hill Rail
Air
London City Airport
Situation

Crouch End is an affluent North London suburb approximately 5.5 miles from the City of London. The property occupies a prominent corner position on The Broadway at its junction with Crouch Hill (A1201). Nearby occupiers include Waitrose, Costa Coffee, Boots and Foxtons.

Tenure

Virtual Freehold. 999 years from the completion of sale at a peppercorn rent.

Description

The property currently comprises two ground floor retail units and a self-contained basement currently used as a children's play centre. The basement is accessed via an entrance at the side of the property. The property forms part of a larger building not included in the sale.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack at acuitus.co.uk

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
Unit 1GroundRetail
319.03 sq m
(3,434 sq ft)
WATERSTONES
BOOKSELLERS
LIMITED (1)
10 years from
24/03/2017 until
23/03/2027 (2)
£95,64224/03/2022
Unit 2GroundRetail
325.16 sq m
(3,500 sq ft)
SUPERDRUG
STORES PLC (3)
10 years from
08/07/2016 until
07/07/2026 (4)
£86,700 (5)08/07/2021
Unit 3Ground
Basement
Store
Children’s
Play Centre
23.50 sq m
213.68 sq m
(253 sq ft)
(2,300 sq ft)
MK CROUCH
END LIMITED
t/a My Gym (6)
10 years from
21/02/2017 until
20/02/2027
£45,830 
Total881.37 sq m (7)
(9,487 sq ft)(7)
  £228,172
rising to
£236,842
in 2021
 

(1) For the year ending 28 April 2018, Waterstones Booksellers Limited reported a turnover of £385,715,000, pre-tax profits of £19,984,000 and a total net worth of £17,405,000 (Source: Experian Group 25/04/2019).
(2) The lease provides an option to determine on 23/03/2022.
(3) For the year ending 30 December 2017, Superdrug Stores Plc reported a turnover of £1,241,783,000, pre-tax profits of £92,934,000 and a total net worth of £115,296,000 (Source: Experian Group 25/04/2019).
(4) The lease provides an option to determine on 08/07/2021.
(5) The lease proves a fixed rental increase to £95,370 p.a. on 23/02/2021.
(6) My Gym was set up 35 years ago to teach children in a fun, physically engaging environment. My Gym is an international corporation with more than 550 locations in over 30 countries and runs programmes, camps and parties for children (Source: www.mygym.com 25/04/2019)
(7) Please note the floor areas stated are from the floor plans attached to the occupations leases and provide approximate GIA areas.

Property Documents

  • Catalogue Page
    Updated Date
    01.05.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    01.05.19
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Seller's Solicitors
WGS Solicitors 133 Praed Street
London
W2 1TH
Jerome Shapiro 020 7723 1656js@wgs.co.uk

Useful Links

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