Tally Ho Corner, North Finchley, London N12 0ER

Prominent Multi-let Greater London Investment Opportunity

• North Finchley is a prosperous and residential and commercial area within the London Borough of Barnet.
• Unbroken block of four retail units, supermarket and gym with self-contained office accommodation predominantly arranged over ground and 1st floors totalling 60,545 sq ft (5,624.8 sq m).
• The property is fully let on seven occupational leases with a weighted average unexpired lease term of 4.23 years to expiry and 4.06 years to break.
• 72% of the total rental income is derived from Marks and Spencer Plc (underlet to Aldi Stores Limited) and Pure Gym Limited.
• Current rent of £1,135,599 per annum which equates to a low average rent of £18.76 per sq ft.
• The Property is held on a 999 year lease from 29th September 2004 at a peppercorn rent.
• The vendor is seeking offers in excess of £15,500,000 (Fifteen Million and Five Hundred Thousand Pounds) subject to contract. A purchase at this level would reflect a net initial yield of 6.86%, after allowing for purchasers costs of 6.73% and a low capital value of £256 per sq ft.

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