The property is located in Hampstead, one of London’s most affluent suburbs, located just 4 miles (6.4 km) north of the West End.
Finchley Road (A41) is one of the principal routes into the West End via St John’s Wood and Baker Street. Junction 1 of the M1 is only 3.2 miles (5km) to the north. It is estimated that 40,000 vehicles per day pass along Finchley Road.
Finchley Road provides a wide selection of national and independent retailers, banks, restaurants and cafés. In particular it is a popular location for a number of high end furniture retailers, bathroom and kitchen designers. These include Natuzzi, BoConcept, Neatsmith, Modess and Poggenpohl. Nearby is the O2 Shopping Centre which is home to a number of leisure and retail occupiers including Virgin Active, Vue Cinema, Sainsbury’s, Wagamama’s and Yo Sushi.
The property comprises the ground floor and lower ground floor of a substantial mixed use development completed in 2006. The two ground floor units have a total frontage of 38.1m (125 ft) with full height glass shop fronts.
Both tenants were the first occupiers of the building having acquired their units as developer ‘shells’. The Roche Bobois unit is a large open plan showroom that is attractively fitted out with a suspended ceiling, spot lighting and air conditioning. The lower ground floor is fitted out as offices with storage, staff areas, kitchen and toilets. The property is situated on a sloping site, with the rear lower ground floor offices having the benefit of natural light and access onto a small courtyard area.
Unit 2 is fitted out as a modern dental practice with three consulting rooms, reception and staff area. There is air conditioning, a suspended ceiling and recessed lighting.
9,646 sq ft (896 sq m) approx
- A rare opportunity to purchase a well located, secure, London retail investment.
- A prominent A1 Retail and D1 Medical investment on Finchley Road with a total frontage of 38.1 m (125 ft).
- Finchley Road is the main arterial route into the West End from North London.
- Hampstead is one of London’s most affluent inner suburbs, situated only 4 miles north of the West End.
- 85% of the income is from the substantial covenant of Roche Bobois, the high end French furniture retailer. Let until 2024 with annual RPI rent increases collared and capped at 1% and 4%.
- Total income of £238,350 per annum exclusive.
- Virtual Freehold.
- An attractive net initial yield of 5.2%.
We are instructed to seek offers in excess of £4,300,000 (four million, three hundred
thousand pounds) subject to contract for our client’s virtual freehold.
Immediate upon completion of legal formalities.