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)
- freehold
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.
Address:
West End Lane, West Hampstead, NW6 1UU
Type:
Retail
Tenure:
freehold
Unit & Floors
| Unit | Floor | SQ FT / SQ M | AVAILABILITY |
|---|---|---|---|
| 1 | b | 1696 / 158 | Let |
| 2 | b | 1780 / 165 | Let |
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