323 Green Lanes 861 SF Retail Building London N13 4YB £699,000 (£811.85/SF)
INVESTMENT HIGHLIGHTS
- Located on Palmers Green high street
- Additional income generated from residential unit to the rear
- Has it's own private entrance
EXECUTIVE SUMMARY
This freehold property is situated on the prime pitch of Palmers Green high street. The property comprises a retail and terrace house at the rear which are both tenanted.
The retail unit is 861 sqft in size and currently operates as a Turkish resturant. The retail unit generates £31,200 per annum as rent and the tenant has a 10 year lease which commenced from 2023.
At the rear of the property there is an 2 bedroom terrace house which 635 sqft in size and has its own private enterance. This terrace house is let at £15,600 per annum. The remaining three flats above have been all sold off on long leaseholds which have approximately 125 years remaining. These three flats generate income of £300 per annum from service charge. The total income the property generates is £47,100 per annum.
The property is situated on the busy Green Lanes with excellent amenities and major retailers nearby. Palmers Green Station is 0.1 miles away which offers direct access into Central London & Hertfordshire.
The property will likely appeal to local and regional investors.
The retail unit is 861 sqft in size and currently operates as a Turkish resturant. The retail unit generates £31,200 per annum as rent and the tenant has a 10 year lease which commenced from 2023.
At the rear of the property there is an 2 bedroom terrace house which 635 sqft in size and has its own private enterance. This terrace house is let at £15,600 per annum. The remaining three flats above have been all sold off on long leaseholds which have approximately 125 years remaining. These three flats generate income of £300 per annum from service charge. The total income the property generates is £47,100 per annum.
The property is situated on the busy Green Lanes with excellent amenities and major retailers nearby. Palmers Green Station is 0.1 miles away which offers direct access into Central London & Hertfordshire.
The property will likely appeal to local and regional investors.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
861 SF
Building Class
B
Year Built
1950
Price
£699,000
Price Per SF
£811.85
Tenancy
Single
Number of Floors
4
Frontage
19 ft on Green Lanes
AMENITIES
- 24 Hour Access
1 of 1
NEARBY MAJOR RETAILERS
