Earl Haig Memorial, Elder Avenue, Crouch End, London N8 9TH
Long Income Investment Opportunity
- Crouch End is an affluent commuter suburb, situated in the London Borough of Haringey, 4.5 miles north of Central London.
- Situated on Elder Avenue a quiet street which connects to Broadway Parade, surrounded by residential together with numerous restaurants, pubs, bars, retailers and leisure facilities.
- Attractive brick built detached building arranged over ground and first floors totalling 6,465 sq ft (600.6 sq m).
- Let to Kido Schools UK Limited for a term of 25 years from 16th September 2019, subject to five yearly rent reviews to RPI compounded annually, capped at 3.5% per annum and collared at 1.5% per annum.
- Current rent of £170,000 per annum which equates to £26.30 per sq ft (£283.05 per sq m)
- Future redevelopment potential, subject to necessary consents.
- The vendor is seeking offers in excess of £3,180,000 (Three Million, One Hundred and Eighty Thousand Pounds) subject to contract, for the benefit of their freehold interest. A purchase at this level would reflect a net initial yield of 5.00% after allowing for purchaser’s costs of 6.8% and a low capital value of £492 per sq ft.