Investment Consideration:
Gross Initial Yield: 3.67%
Rental Income: £27,500 p.a.
VAT is NOT applicable to this property
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 two bed self-contained flats
Located next to Bruce Grove Overground station with nearby occupiers including Nationwide, Asda, Santander, McDonalds and Halifax, amongst others.
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
Development Potential:
Development potential to extend above subject to obtaining the necessary consents. Planning approved in 2010 (now lapsed) for erection of first and second storey extension to provide 2 x two bed self-contained flats, accessed from the main high street by its own private new entrance door way. For more information please refer to planning application HGY/2010/1662 Haringey Planning Portal - www.planningservices.haringey.gov.uk.
Tenancy:
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.
Location:
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.
