£31,000 per annum
PREMIUM ?140,000, Ground Restaurant Unit, Includes 2 x 2 Bedroom Residenti, Minimum 60 Internal Covers, Located in Highly Affluent Part
Confidential, Staff UnawareGround Restaurant UnitIncludes 2 x 2 Bedroom Residential Flat AboveMinimum 60 Internal CoversLocated in Highly Affluent Part of North LondonLocationSituated in a prominent location on Muswell Hill Broadway the unit is located within equidistance of East Finchley & Highgate Northern Line Station. Nearby occupiers include Pizza Express, Giraffe, ONeills, Odean Cinema & The Village to name a few. Ground FloorApproximately 1,037 Sq Ft.The ground floor comprises of approximately 60 internal covers with reception/serving area & ladies/gents W.C.s to the rear. Kitchens, outside storage areas and service road for deliveries are also to the rear.Residential Uppers1st Floor:Entrance from street giving access to 2 bedroom flat with separate reception, kitchen and bathroom. 2nd Floor:Entrance from street giving access to 2 bedroom flat with separate reception, kitchen and bathroom. Both flats are in need of refurbishment but, in good condition, would benefit from a combined yearly rental income of approximately £30,000 per annum,TenureThe property is held by a 23 year Full Repairing and Insuring Lease which ends in 2019. The lease is subject to 5 yearly rent reviews and the next one will be December 2014. It is understood that the lease is granted inside the security of the Tenure Provisions of the Landlord and Tenant Act 1954, part two as amended.Passing RentThe current passing rent is £31,000 PAX. RatesWe have been informed by our client that the rates payable are approximately £11,000 per annum. Holding DepositA holding deposit will be required to secure the property; the deposit will buy a period of exclusivity and will be held in the Colemans client account.ReferencesA fee of £85.00+VAT is payable for taking up references on behalf of proposed tenants. This fee is non-refundable after the references have been taken up, whether or not they have been accepted by the Landlord.
Property reference: CP369F202_6596
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