Winchmore Hill, 889 Green Lanes, London N21

Freehold Supermarket & Residential Investment Opportunity

• Supermarket and two refurbished residential apartments totalling 11,190 sq ft, with a 24-space car park on a 0.5 acre site offering medium-term redevelopment potential (subject to planning)
• Supermarket tenancy: Let to Waitrose Limited expiring on 31st August 2032 with an RPI-linked review on 1st September 2027 subject to a collar of 10.4% and cap of 21.7%
• Apartment: Vacant and the vendor will provide a rental guarantee
• Current Rent: £340,731 pa including a 6 months vendor guarantee on the vacant apartments (87% of the income is from Waitrose at a rent equating to £31.32 per sq ft)
• Tenure: Freehold

Offers are invited in excess of £5,317,000, a purchase at this level would reflect a net initial yield of 6.00% rising to 7.13% in September 2027 based on the RPI cap of 21.7% after allowing for purchasers costs of 6.8%

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Marketing Particulars - PDF