Prime Commercial Building In Camden Lock

Same Family Ownership For Over 70 Years

Freehold Investment For Sale

Location

Camden Town is one of the top tourist destinations, famous for Camden Lock & Stables Market which generates a high footfall. The property is located in the prime part of Camden High Street within a parade of multiple local retailers & restaurants. The immediate area has undergone substantial regeneration. Transport facilities are excellent as Camden Town Underground Station (Northern Line) is within a few minutes walk.

Key Features

• The Best Retail Location In Camden
• Potential To Convert The Upper Floors
• Current Rental Income: £147,496.00 Per Annum Inclusive Of Business Rates & Utilities
• New Letting For The Entire Building Agreed At A Rental Of £215,000 pax
• First And Second Floors Vacant ERV £40,000 Per Annum Inclusive
• 2,792 Sqft (259.3 Sqm)
• Let On Licence Agreements
• Vacant Possession Of The Building Can Be Obtained By Giving The Tenants 1 Months Prior Written Notice
• Highly Reversionary

Description

Comprises the entire building arranged on as basement & ground floor prime shop, together with first and second floors, ancillary office/retail which is accessed through the ground floor shop. The ground and lower ground are let to two separate tenants on separate License agreements. The first and second floors are vacant.

Available area

The accommodation :

Tenancies

Basement: Let to Blue Grace Ltd on a month to month ongoing License, rental income £39,000 per annum inclusive of Rates & Utilities. The License is granted outside the security of the Landlord & Tenant Act 1954.
Ground Floor: Let to Fredbel Investments Ltd on a month to month ongoing License, rental income of £108,496 per annum inclusive of Rates & Utilities. The License is granted outside the security of the Landlord & Tenant Act 1954. Landlord has the right at any time to serve notice on either tenant to vacate the premises by giving 1 months prior written notice.
First & Second Floors: Vacant ERV £40,200 Per Annum
Total Income: £147,496 Per Annum Inclusive
Total Estimated Income once new Letting on the entire has been completed: £215,000 pax.

Potential Tennant

Terms have been agreed and solicitors instructed with the supermarket Londis to take an overriding new FR&I Lease on the entire building for a term of 20 years subject to 5 yearly upward only Rent Reviews at a commencing rental of £215,000 pax.

Freehold Price

£3,250,000 with the benefit of the income.

Identification

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

Viewings

Strictly by appointment through owner’s Sole agents as above.