N10 22-32 Fortis Green Road, Muswell Hill, London

The property consists of a ground floor commercial unit forming part of a 3-storey mixed-use building. Accommodation comprises of a main sales area, office, kitchen, WC and ancillary stores. The unit is subject to a Full Repairing and Insuring lease of 15 years Inside The Act from February 2013 to Wickes at a current rent of £93,500.00 per annum + VAT, pursuant to the February 2023 rent review.

The residential upper parts have independent entrances through both the front and rear elevations of the building. There are 4 flats arranged over first and second floor levels. These are sold off on long leases producing £250 p.a each i.e £1,000 p.a, subject to a doubling ground rent provision on a 25 yearly basis until expiry of the leases (by the last 25 years of the term, each flat will pay £8,000 p.a until expiry). The total rent reserved is therefore £94,500.00 p.a.

The property is situated in North London's Muswell Hill district, on the north east side of Fortis Green Road, close to the roundabout junction with Muswell Hill Broadway, St. James's Lane and Muswell Hill Road. Fortis Green Road comprises a number of mixed-use occupiers such including Sainsbury's adjacent to the property, Everyman Cinema, Gail's Bakery and The Village Green restaurant. East Finchley and Highgate underground stations are both within a mile from the property.

National covenant

Rent just reviewed

Doubling ground rent

Potential to extend upwards (STPP)