Retail premises for sale

Camden Road, London NW1

Description

The property comprises a part ground floor and part lower ground floor retail unit, set within a 7 storey mainly residential development completed around 2014, comprising 54 residential units, consisting of a mixture of 1,2 and 3 bedroom apartments in private and affordable ownership.

The retail unit itself is currently occupied by sbr Enterprises Limited trading as Costa Coffee under a full repairing and insuring Lease and is fitted out to a standard Costa corporate image, comprising Kitchen area, servery and seating area at ground floor level with additional seating areas at lower ground level. There is also an external seating area and unit overlooking Regents Canal.

Location

The Property is situated on the Western side of Camden Road (A503), mid way between its junctions with Camden Street and Royal College Street, adjacent to Regents Canal. Forming part of the ground and lower ground floor of Twyman's House, which is situated approximately 5 minutes walk from Camden Town centre and the Underground station and a 2 minutes south of Camden Road railway station. The property itself is situated in an isolated retail parade North of Sainsburys supermarket and adjacent and opposite to a number of retail and service parades along Camden Road.

Tenure

The property is held Long Leasehold by virtue of a Lease dated 28 March 2014, for a term of 999 years from 1 January 2012 at a current Ground Rent of £329.45 per annum, subject to Rent Reviews at 10 yearly Intervals, to be reviewed in line with 10 yearly intervals, to be reviewed in line with the retail price (all items) below.

Price

£1,050,000 plus Vat with the benefit of the income from the Shop and basement.

Identification

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

Viewing

Strictly by appointment through owner’s sole agents.

Tenancy

The property is Let to sbr Enterprises Limited trading as Costa Coffee by virtue of a Lease dated 14 March 2014 for a term of 15 years, commencing on the 14 March 2014 at a current rental of £70,000 pax subject to 5 yearly Rent Reviews in respect of a permitted use as a retail shop for the sale of coffee within Class A1 or A3 of Town & County Planning (use classes) Order 1987