Retail / Residential Investment, 218 Middle Lane, Haringey, N8 7LA

SUMMARY

• Opportunity to acquire an income-producing shop and uppers investment.

LOCATION

• The opportunity is located on Middle Lane on the junction with Priory Road and the High Street and is within a 13-minute walk from Hornsey train station.

DESCRIPTION

• The property is a mid-terraced building comprising a Ground Floor Take-Away with separate front access to 2 apartments (2 x 1 Bed) on the first and second floors.

• The ground floor commercial space extends to a total area of approximately 401 sq ft NIA and is currently let on a 15-year FRI lease generating £16,000 per annum. The lease commenced on 9^th July 2021, with rent reviews every 5-years and is not subject to any break clauses.

• The 2 apartments extend to a total area of approximately 871 sq ft NSA.

• The top floor apartment has recently become vacant and has undergone refurbishment works. The first-floor apartment is let on an AST, generating £17,400 per annum.

• The property is therefore producing a current rental income of £33,400 per annum.

• If fully let at market rent, the property has an ERV of approximately £51,100 per annum, reflecting an initial yield of 7.86% at the purchase price.

• Both flats benefit from gas central heating and entry phone.

FURTHER INFORMATION

• to view the area & tenancy schedule, floor plans and images & videos.

• to view the property on Google Street view.

TERMS

• The property is available freehold subject to the existing tenancies.

• Offers in excess of £650,000