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Titan Court One Flower Ln 6,280 sq ft 4-Star Retail Property London NW7 2JA £1,450,000 (£230.89/sq ft) 8.84% Net Initial Yield
Investment Highlights
- Mill Hill Broadway has excellent transport links being close to M1, A1 & M25 motorways.
- Mill Hill is a popular and affluent North London suburb within the London Borough of Barnet
- Mill Hill mainline station (Thameslink) within a close walk provides a speedy service to Central London
Executive Summary
Titan Court, constructed circa 2014, comprises a high-class residential development of 42 luxury private apartments together with commercial accommodation on the ground floor(Class E) operating as an Anytime Fitness gym, accessed from Flower Lane. The premises have a floor area of 6,280 sq ft approx.
TENANCY & INCOME: Let to Spareryb Enterprises Ltd, a franchisee of Anytime Fitness on a fullrepairing and insuring lease for a term of 15 years commencing September 2015. The current rental is £128,189.88 per annum exclusive. A £45,000 rent deposit plus VAT is held, refundable subject to 3 consecutive years showing a net profit of 2.5 x of the annual rent.
TENURE: Held for a term of 150 years (less 3 days) commencing 9 May 2012 at a ground rent of £2,145.26 per annum doubling every 25 years.
PRICE: Offers in excess of £1.45 million (One Million Four Hundred & Fifty Thousand Pounds), subject to contract.
TENANCY & INCOME: Let to Spareryb Enterprises Ltd, a franchisee of Anytime Fitness on a fullrepairing and insuring lease for a term of 15 years commencing September 2015. The current rental is £128,189.88 per annum exclusive. A £45,000 rent deposit plus VAT is held, refundable subject to 3 consecutive years showing a net profit of 2.5 x of the annual rent.
TENURE: Held for a term of 150 years (less 3 days) commencing 9 May 2012 at a ground rent of £2,145.26 per annum doubling every 25 years.
PRICE: Offers in excess of £1.45 million (One Million Four Hundred & Fifty Thousand Pounds), subject to contract.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Shopfront Retail / Residential
Property Size
6,280 sq ft
Costar Property Class
B
LoopNet Rating
4 Star
Year Built
2014
Price
£1,450,000
Price per sq ft
£230.89
Yield
8.84%
NOI
£128,190
Tenancy
Single
Number of Floors
4
Frontage
183 ft on Flower Lane
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Nearby Major Retailers
1 of 5
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Titan Court | One Flower Ln
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