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We act for both tenants and landlords across a range of property services, making sure that properties are at their best, performing well financially and providing owners and tenants with the peace of mind they deserve.
Retail for sale in West End Lane, West Hampstead, NW6 1UU
Two Adjoining Freehold Retail Investments
Two excellent retail covenants (both with international Score of 'A')
Current Income of £110,000 per annum exclusive
Prime retail location on West End Lane, West Hampstead
214 West End Lane: Ground Floor of 840 sq ft and basement 940 sq ft (Total area 1,780 sq ft)
216 West End Lane: Ground Floor of 878 sq ft and basement 818 sq ft (Total area 1,696 sq ft)
The premises comprise two adjoining freehold buildings each with three floors of residential accommodation above having been sold off on 999 year leases from the 24th June 1996 at a peppercorn. Both shops have tenants with excellent covenants:
214 West End Lane
Let to 'Scope' on a 15 year lease from 25th June 2015 with 5 yearly rent reviews and 5 yearly tenants breaks, at a passing rent of £55,000 per annum exclusive. (NB. The June 2020 Rent Review has not been implemented). Scope has a Risk Score of 91 and International Score of A with a turnover in 2021 of £34,121,000. It has over 200 Charity Shops around the UK
216 West End Lane
Let to 'Gail's Limited' and guaranteed by 'Bread Holdings Limited' on a 15 year lease from 13th May 2016 with 5 yearly Rent Reviews and a tenants break at year 10 at a current passing rent of £55,000 per annum exclusive. (NB. The May 2021 Rent Review has not been implemented). Bread Holdings has a Risk Score of 95 and International rating of 'A' having a turnover of £84,501,000 in 2021. Gail's has over 79 shops mostly in the London area.