17-18 Hythe Road, Park Royal, NW10 6RT
5,686 Sq Ft / Other / Investment
For Sale
- £825,000.00
Available - Last updated: 01 July 2024
Summary
Forest Real Estate are marketing this commercial investment consisting of incomes from three tenancies. A cafe and workshop occupier on the ground floor respectively, whilst the first floor is let to a studio operator.
The annual headline rent is currently £55,800 per annum which will increase to £57,600 per annum in October 2024. Please see a breakdown of the rental income below.
Cafe
- 3 year lease from July 2022
- Passing rent at £19,200 per annum exclusive
- No break options
Workshop
- 5 year lease from October 2023
- Stepped Rent:
Year 1 @ £16,200 per annum exclusive
Year 2 & 3 @ £18,000 per annum exclusive
Year 4 & 5 @ £19,200 per annum exclusive
- No break options
First Floor
- 10 year lease from November 2022
- Stepped Rent:
Year 1 @ £18,000 per annum exclusive
Year 2 & 3 @ £20,400 per annum exclusive
Year 4 & 5 @ £22,000 per annum exclusive
- Open market review at year 5
- No break options
Key Points
Virtual Freehold (961 Years Remaining)7% yieldStepped Rents Allowing For Future Rental UpliftCafe & Workshop On Ground Floor With Studios On The First FloorFully OccupiedSemi-DetachedMay Suit Alternate Uses (STPP)No VATLocation
Willesden Junction is a vibrant area in North West and offers a thriving business environment. Located in Zone 2/3, it boasts excellent transport links, with the Willesden Junction station serving both the London Overground and Bakerloo lines.
Property Quote Price(s)
| Description | Sale type | Guide price | Price type |
| |
For Sale Freehold
|
£825,000.00
| NA |
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