FOR SALE FREEHOLD - GROUND FLOOR INCOMING PRODUCING COMMERCIAL PREMISES LET TO WICKES + DOUBLING GROUND RENT INCOME FOR FLATS.
22-32 FORTIS GREEN ROAD, LONDON, N10 3HN

Key Features

•  Income Producing to National covenant.
•  Excellent Location.
•  Adjacent to Sainsbury's.
•  Rent just reviewed to market level.
•  Net yield of 5.86% assuming purchasers costs of 5.8%.
•  Doubling ground rent provisions
•  Potential to extend upwards (STPP)

Location

The property is situated in North London's Muswell Hill district, on the north east side of Fortis Green Road, close to the roundabout junction with Muswell Hill Broadway, St. James's Lane and Muswell Hill Road. Fortis Green Road comprises a number of mixed-use occupiers such including Sainsbury's adjacent to the property, Everyman Cinema, Gail's Bakery and The Village Green restaurant. East Finchley and Highgate underground stations are both within a mile from the property.

Accommodation

The property consists of a ground floor commercial unit forming part of a 3-storey mixed-use building. Accommodation comprises of a main sales area, office, kitchen, WC and ancillary stores. The residential upper parts have independent entrances through the front and rear elevations of the building. Approximate areas for the commeral premises is as follows in accordance with the RICS Code of measuring Practice (6th Edition) on a Net Internal Area (NIA) basis:

Ground Floor Retail Area	2,355 sq.ft ( 218.79 m2  )
Total	2,355 sq.ft ( 218.79 m2  )

Lease Terms

The unit is subject to a Full Repairing and Insuring lease of 15 years Inside The Act from February 2013 to Wickes at a current rent of £93,500.00 per annum + VAT, pursuant to the February 2023 rent review. There are 4 flats arranged over first and second floor levels. These are sold off on long leases producing £250 p.a each i.e £1,000 p.a, subject to a doubling ground rent provision on a 25 yearly basis until expiry of the leases. The current rent reserved is therefore £94,500.00 p.a.

Price

Current rent reserved - £94,500 p.a

Rates

Rateable Value	£77,000.00
UBR 2023/24	51.2p
Rates Payable	£39,424.00
	Interested parties are advised to verify these figures with London Borough of Haringey.

Energy Performance Asset Rating

A+
A
B
C	66 This is how energy efficient this building is
D
E
F
G

VAT

Value Added Tax is be applicable in respect of this transaction.

Service Charge

A service charge may be applicable in respect of this property. Further details are available on request.

Legal Costs

Each party to bear their own legal costs.

Viewing

Strictly by prior appointment with sole selling agents Taylor Freeman Kataria.

Contact:

Priya Parmar MRICS

Pparmar@cliffords-estates.co.uk

Rajiv Kataria MRICS

Rajiv@cliffords-estates.co.uk