15 Highgate Road (Corner of Swain's Lane)
Highgate
London
NW5 1QX

Freehold Landmark Restaurant and Residential Investment in Highly Affluent North London Location

  • Restaurant let to tenant trading as Carob Tree
  • Restaurant let until October 2033 (no breaks)
  • Restaurant leases excluded from Security of Tenure Provisions of Landlord & Tenant Act 1954
  • 3 large, separately let flats above (2 x three bed and 1 x two bed), all let on ASTs from 2019
  • Prominent corner location opposite Parliament Hill Fields (a part of Hampstead Heath), on the southern slope of Highgate West Hill
  • Occupiers in the immediate location include Tesco Express, Gail's Bakery and a number of boutique coffee shops and restaurants
  • Lot
    9
  • Auction
    11/Dec/2019
  • Rent
    £150,640 per Annum Exclusive
  • Status
    Available
  • Price*
    £3,200,000 - £3,500,000
  • Sector
    Restaurant
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
Important Auction & Property Update
  • 15 Highgate Road (Corner of Swain's Lane)<br>Highgate<br>London<br>NW5 1QX
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

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
Gospel Oak (Overground)
Kentish Town (Northern Line)
Air
London City, London Heathrow
Situation

Highgate is an extremely affluent suburb of North London, situated at the eastern edge of Hampstead Heath. The property is located in a prominent position on Highgate Road, at its junction with Swain's Lane and Highgate West Hill, in an area known for its peaceful, semi-rural village feel. Nearby retailers in the immediate location include Tesco Express, Gail's Bakery and a number of boutique coffee shops and restaurants. A new high quality, mixed use development comprising ten luxury flats and a number of independent shops and boutiques on Swain's Lane has recently been completed.

Tenure

Freehold.

Description

The property comprises an attractive and very prominent corner building, with a ground floor restaurant and ancillary accommodation at lower ground level. The first and second floors comprise 3 flats (2 x three bed and 1 x two bed), newly created to a high standard in 2014 and accessed separately from Highgate Road.

VAT

VAT is applicable to this lot.

EPC

Please see legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
Ground/
Lower
Ground
Restaurant/
Ancillary
132.27 sq m
96.68 sq m
(1,424 sq ft)
(1,041 sq ft)
O2 4 PROPERTY
LIMITED t/a Carob Tree (1)
20 years from
18/10/2013 until
17/10/2033 (2)
£60,00018/10/2023 and
5 yearly
thereafter
Ground/
Lower
Ground
Restaurant/
Ancillary
O2 4 PROPERTY
LIMITED t/a Carob Tree (1)
Approximately 14 years from
06/08/2019 until
17/10/2033 (2)
£6,000 until
24/03/2021
rising (3)
08/10/2023 and
5 yearly
thereafter
Flat 13 bedrooms
& 3
bathrooms
101.54 sq m
(1,093 sq ft)
INDIVIDUALS1 year AST from
25/10/2019
£30,940 
Flat 2 3 bedrooms
& 2
bathrooms
84.08 sq m
(905 sq ft)
INDIVIDUALS1 year AST from
14/05/2019
£29,700 
Flat 32 bedrooms
& 2
bathrooms
61.04 sq m
(657 sq ft)
INDIVIDUALS1 year AST from
01/07/2019
£24,000 
Total 
475.61 sq m
(5,120 sq ft)
  £150,640
(rising to a
minimum of
£166,440 by
09/10/2023)
 

(1) Carob Tree is a well known, contemporary Mediterranean restaurant. www.carobtreerestaurant.co.uk.
(2) Both leases are excluded from the Security of Tenure provisions of the Landlord & Tenant Act 1954.
(3) The rent rises to £9,000 per annum on 25/03/2021; then to £13,500 per annum on 25/03/2022; then to a minimum of £21,800 per annum on 09/10/2023 or open market, whichever is the higher.

If you are the successful bidder Acuitus requires a separate payment of £500 plus VAT (£600 inclusive of VAT) buyer's administration charge payable to Acuitus Limited

Property Documents

  • Solicitors Legal Pack
    Updated Date
    05.12.19
    File Size
    35 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    20.11.19
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
DWFM Beckman 101 Wigmore Street
London
W1K 1FA
Maria Boccali-Vine 0207 408 8877maria.boccali@dwfmbeckman.com

Useful Links

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