Property Information
Address:
Price: Sale Price: £990,000
Size: SOA
Primary Category: Shop
All Categories:
Shop, Industrial,
Property Ref/Movehut: MH660577
Property Ref/Agent: 14565643
*Please use the agent ref when calling the agent directly.
Property description
Freehold, ground floor investment for sale. Fully let tenant, Yoga Hook are a well-established yoga & wellness studio, that caters for a wide range of health and wellness services. The property is let by way of a 20 year FRI lease at £60,000 p/a as per the tenancy details overleaf. The property is currently arranged over two floors - the commercial unit is on the ground floor, and the first floor has three apartments on a long leaseholds with ground rent of £200 p/a each.
This property consists of a reception area, multiple studios and therapy rooms, a changing area with showers and a w/c.
The property was redeveloped 6 years ago, and has been run as a Yoga studio for this period.
Tenancy
Let to Yoga Hook for a term of 20 years, 5 yearly rent reviews and 5 year break clause from 2020.
Terms
Freehold offers invited subject to the existing tenancies.
Price £990,000 (Non-vatable transaction)
This premises measures in the region of 257m2 (2,766sqft) approx. This includes the main studio with two therapy rooms.
Location:
• Within easy access of the A406 North Circular and major road networks.
• Woodside Park (Northern Line) Underground Station and West Finchley (Northern Line) Underground as its nearest public transport link.
• Benefiting from access to surrounding areas such as Southgate and East Finchley.
Local High Street:
Situated behind the main high road, this unit is in close proximity to Tally Ho and the busy centre.
The high road has a number of retailers located there such as Argos, Barclays, Lloyds bank and Starbucks to name a few. As well as smaller boutique style businesses.
Lease:
Grant of a new lease
Rent: £60,000
Premium: £120,000
Business Rates:
All interested party are advised to satisfy their own queries directly with the Local Authority in this regard.
Conditions:
Ingoing tenant to be responsible for both parties reasonable legal costs.
References:
A charge of £100 +VAT is payable for taking up references on behalf of proposed tenants. This fee is non- refundable after the references have been taken up, whether or not they have been accepted by the landlord
Viewing:
Strictly via the owner's agent, MARTYN GERRARD COMMERCIAL DEPARTMENT.
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