Available
London N17 – Retail Shop with Development Potential
491A High Road, Tottenham, London N17 6QAFreehold Retail Investment with Residential Development Potential
Price
£750,000
Rent P.A.
£27,500
Yield
3.67%
Tenure
Freehold
Lease Term
16 Years
Years Left on Lease
Holding Over
Area
850 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor retail shop with air rights above
- Planning approved in 2010 (now lapsed) for erection of first and second storey extension to provide 2 x 2-bedroom flats
- Located next to Bruce Grove Overground station with nearby occupiers including Nationwide, Asda, Santander, McDonalds and Halifax, amongst others
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor shop t/a curtain retailer and provides the following accommodation and dimensions:
Ground Floor: Shop 79 sq m (850 sq ft)
Open plan retail, Storage, WC
Ground Floor: Shop 79 sq m (850 sq ft)
Open plan retail, Storage, WC
Tenancy Description
The property is at present let to an Individual for a term of 16 Years from 5th February 2008 at a current rent of £27,500 per annum and the lease contains full repairing and insuring covenants.
Tenancies & Accommodation
Location Description
Bruce Grove is a ward in Tottenham, enclosed by Lordship Recreation Ground, Lordship Lane, Philip Lane, and the High Road. Tottenham is a sprawling, up-and-coming area known for the huge Tottenham Hotspur Stadium, opened in 2019 and home to the soccer team of the same name. Local shops, global eateries, fast-food joints, and cafes line the busy High Road, and Bruce Castle Museum has displays on local history in a 16th-century manor house set in parkland. The property is located next to Bruce Grove Overground Station which provides direct service to Liverpool Street Station. Occupiers nearby including Nationwide, Asda, Santander, Holland & Barrett, McDonalds and Halifax, amongst others.
