Two Adjoining Freehold Retail Investments
Summary
- 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)
Accommodation
The accommodation comprises the following areas:
| Description | Size | Rent |
| 216 West End Lane | 1,696 sq ft | £55,000 per annum to 'Gail's Limited' for a term of 15 years from 13th May 2016. Next review 13th May 2026. |
| 214 West End Lane | 1,780 sq ft | £55,000 per annum to 'Scope' for a term of 15 years from 25th June 2015. Next review 25th June 2025. |
Location
The premises are situated in a prime trading location along West End Lane, being in the heart of West Hampstead shopping centre, located on the eastern side of the thoroughfare and contained within an unbroken terrace of shops properties between the West End Lane extension leading to the Finchley Road to the North and Fawley Road to the South. Local occupiers include, Waitrose and Sainsbury's Supermarkets and with many popular wine bars and restaurants, as well as the M & S Food Store at West Hampstead Square. The area also benefits from having three train stations; West Hampstead (Jubilee Line) Underground Station and two overground Stations.
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Mainline Stations
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West Hampstead Thameslink3 mins
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West Hampstead4 mins
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Finchley Road and Frognal7 mins
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Brondesbury12 mins
Underground Station
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West Hampstead Thameslink3 mins
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West Hampstead4 mins
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Finchley Road and Frognal6 mins
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Finchley Road10 mins
Further Information
Price £2,200,000
Rates Payable Upon Enquiry
EPC Rating This property has been graded as D
Description
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.
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