Muswell Hill Broadway

London

OVERVIEW

Property Details

FREEHOLD INVESTMENT OPPORTUNITY LET & INCOME PRODUCING RESTAURANT,(TWO UPPER FLATS SOLD OFF ON LONG LEASES – WITH GROUND RENT INCOME)

A rare opportunity to acquire the freehold interest of this mixed use property, situated along the Broadway of the affluent Muswell Hill.

FOR SALE BY WAY OF INFORMAL TENDER (unless sold prior)

Please note:
– The sale is subject to the leaseholder’s pre-emption rights, under the Landlord & Tenant Act 1987 (as amended) – a section 5 notice will be served on the current flat owners (rights of first refusal)

Main restaurant area has an overall depth of 39’9 (12.12m), and a frontage of 15’3 (4.65m), which widens in the bar area to approximately 19’ (5.79m).

Kitchen has an overall depth of 24’9 (7.54m) with a minimum width of 5’ (1.52m) /maximum 8’9 (2.67m).

To the rear there is a corridor, WCs and office

The combined Gross Internal Area of the accommodation listed above is approximately 1023ft² (95m²)

There is also a yard, and several outbuildings/staff WC & a cold storage area.

The restaurant is subject to a 20 year lease, established in 2010 (expires 2030). Next rent review is in 2025 – current passing rent is £35,500 PAX.

Energy Rating of C.

THE 2 UPPER FLATS – SOLD OFF ON LONG LEASES

The mid-floor flat (no. 442) has the benefit of a 125 year lease from April 2018.

There is a valid energy performance certificate which states a total floor area of 72m² (775ft²), and gives an Energy Rating of C.

The current Ground Rent is £75 per annum. However, there is a Ground Rent review trigger, enabling an increase in Ground Rent (subject to contract & lease) when the property sells. Please contact us for more information.

The top-floor flat (no. 444) has the benefit of a 125 year lease from September 2018.

There is a valid energy performance certificate which states a total floor area of 93m² (1001ft ²), and gives an Energy Rating of D.

The current Ground Rent is £75 per annum. However, there is a Ground Rent review trigger, enabling an increase in Ground Rent (subject to contract & lease) when the property sells. Please contact us for more information.

Written offers will need to be made for submission to the vendor for consideration; by NOON on 20th SEPTEMBER 2021

Either write to our Whetstone office: 1320 High Road, London N20 9HP OR email: sales@maundertaylor.co.uk

As well as the offer amount, written confirmation must be given, confirming;
– Buyer’s Name (individual or company), with full contact details
– Solicitor details (should the offer be acceptable)
– Any special conditions
– Proof of funding

Please note:
– The sale is subject to the leaseholder’s pre-emption rights, under the Landlord & Tenant Act 1987 (as amended) – a section 5 notice will be served on the current flat owners (rights of first refusal)

– Exchange and completion of the purchase will be required by December 2021.


To View:
Call : 020 8446 0011
Email : sales@maundertaylor.co.uk

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