Freehold Land and Arches, 1A Adrian Avenue, Cricklewood, NW2 1LX

  • 61,074 sq ft
  • For Sale
Freehold Land and Arches, 1A Adrian Avenue, Cricklewood For Sale - Street view picture of Adrian Avenue.jpeg
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Freehold Land and Arches, 1A Adrian Avenue, Cricklewood For Sale - SITEPLAN Updated.jpg
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Freehold Land and Arches, 1A Adrian Avenue, Cricklewood For Sale - Street View
Freehold Land and Arches, 1A Adrian Avenue, Cricklewood For Sale - picture8.png
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Freehold Land and Arches, 1A Adrian Avenue, Cricklewood For Sale - Street view picture of Adrian Avenue.jpeg
Property Type
Tenure For Sale
Size 61,074 sq ft
Price £6,750,000
Business Rates Upon Enquiry
Service Charge n/a
Energy Performance Rating Upon enquiry

ADRIAN AVENUE NW2

Highly Prominent Land and Arches Investment

Suitable for Development

Freehold For Sale

Key Features

  • Freehold Industrial Investment
  • Highly Prominent
  • Income Producing
  • 61,074 sqft
  • Overlooking Junction 1 of the M1 Motorway
  • Ideal For Development

Description

Comprises 6 adjoining railway arches which benefit from front and rear loading together with the large yard area, prominently overlooking Staples Corner roundabout and the entrance to Junction 1 of the M1 motorway. The site benefits from a large Insite Illuminated Advertising Sign Board. There is also a further large, dilapidated advertising hoarding that is prominently located providing prominence to the M1 Motorway and the North Circular Road. The entire property is let to various tenants producing a total income of £238,500 pax.

Location

The site is located in a highly prominent location on Adrian Avenue which overlooks Staples Corner Roundabout, the North Circular Road (A406) and Junction 1 entrance to the M1 motorway. Excellent access to Edgware Road (A5) Brent Cross flyover which joins the Hendon Way (A41) Brent Cross Shopping Centre is a few minutes walk. The area is undergoing complete regeneration with many newly built residential flats together with new commercial and retail spaces, improved schools and health care facilities. The newly built Brent Cross West Station is within a few minutes walk.

Tenancies

Tenancies All Leases are granted outside of the Landlord and Tenant Act 1954 except for Arches 3 and 5 which are within the security of the Landlord and Tenant Act 1954

ARCH 1 & 2 Let to M. Schembri on a FR&I Lease for a term of Years From 24/06/2013 without further rent review at a rent of £45,000 pax

ARCH 3 Let to Wembley Windows (SC) FR&I Lease for a term of 15 years to expire 9/12/2028 without further rent review at a rent of £23,000 pax

ARCH 4 Let to MH Costa Construction Ltd FR&I Lease for a term of years to expire 24/06/2028 without further rent review at a rent of £18,500 pax

ARCH 5 Let to G Agyeton, FR&I Lease for a term of 15 years from 08/07/2009 The Lease has expired so the tenants are holding over at a rent of £19,500 pax

ARCH 6 Let to Technosport London Ltd FR&I Lease for a term of 15 years from 24/06/2013 without further rent review at a rent of £17,500 pax

YARD AREA Let to A. Hamdo FR&I Lease for a term of 15 years from 24/06/2013 without further rent review at a rent of £60,000 pax

Advertising LET to Insite (Wildstone) for a term of 12 years from 1/08/2015 without further rent review at a rent of £55,000 pax

TOTAL INCOME = £238,500 pax

Viewings

Strictly by appointment through SOLE agents, Christo & Co.

IDENTIFICATION:

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.