242 Kentish Town Road London NW5 2AB

242 Kentish Town Road
London
NW5 2AB

Freehold Retail and Residential Investment

Retail let to Foxtons Limited on Assignment to Holland & Barrett Retail Limited until 2030 (subject to option)
Fashionable and Affluent North London suburb
Approximately 120 metres south of Kentish Town Underground (Northern Line) and Overground Station
Nearby occupiers include McDonald’s, Superdrug, Sainsbury’s Local and Costa
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
36
Auction
8th December 2016
Rent
£87,650 per Annum Exclusive
Status
Sold
Price
£1,740,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail and Residential Investment

Retail let to Foxtons Limited on Assignment to Holland & Barrett Retail Limited until 2030 (subject to option)
Fashionable and Affluent North London suburb
Approximately 120 metres south of Kentish Town Underground (Northern Line) and Overground Station
Nearby occupiers include McDonald’s, Superdrug, Sainsbury’s Local and Costa
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 36
Auction 8th December 2016
Rent £87,650 per Annum Exclusive
Status Sold
Price £1,740,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 1 mile north of Camden, 1.3 miles north east of Regent’s Park, 2.4 miles north of London’s West End
Roads: A1, A400
Rail: Kentish Town Underground Station (Northern Line), Kentish Town Overground Station
Air: London City Airport, London Heathrow Airport

Situation

Kentish Town is a fashionable and affluent north London suburb approximately 2.4 miles north of London's West End. The property is situated on the east side of busy Kentish Town Road, close to its junction with Holmes Road and some 120 metres south of Kentish Town Underground and Overground Station. Neighbouring occupiers include McDonald's directly opposite, Superdrug, Sainsbury's Local, Co-operative Food and Costa.

Tenure

Freehold.

Location

Miles: 1 mile north of Camden, 1.3 miles north east of Regent’s Park, 2.4 miles north of London’s West End
Roads: A1, A400
Rail: Kentish Town Underground Station (Northern Line), Kentish Town Overground Station
Air: London City Airport, London Heathrow Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with basement ancillary accommodation and 3 self-contained residential flats on the first, second and third floors, which are each let on a 125 year lease.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Reviews
Ground Basement	Retail Ancillary	135.40 sq m 59.16 sq m	1,457 sq ft 637 sq ft	FOXTONS LIMITED (on assignment to Holland & Barrett Retail Limited with an Authorised Guarantee Agreement) (1)	15 years from 22/06/2015 until 2030 on a full repairing and insuring lease (2)	£87,500	22/06/2020 22/06/2025
First, Second & Third	Residential	3 x Self-Contained Flats		PYE PROPERTIES LIMITED	125 years from 10/11/2016 until 09/11/2141	£150 (3)	29/09/2056 29/09/2096
Total Commercial Area		194.56 sq m	2,094 sq ft			£87,650

(1) For the year ending 31st December 2015, Foxtons Limited reported a turnover of £141,537,149, pre-tax profits of £40,662,864 and a total net worth of £14,283,759 (Source: www.riskdisk.com 07/11/2016). For the year ending 30th September 2015, Holland & Barrett Retail Limited reported a turnover of £424,662,000, pre-tax profits of £129,456,000 and a total net worth of £326,224,000. (Source: www.riskdisk.com 24/10/2016). Holland & Barrett are in the process of fitting out for occupation.
(2) The lease provides for a tenant option to determine the lease on 21/06/2025.
(3) The leases provide for the ground rent of each flat to increase to £500 per annum exclusive on 29/09/2056 and £1,000 per annum exclusive on 29/09/2096.