Price £6,750,000

Description

Comprises 6 adjoining railway arches which benefit from front and rear loading together with the large yard area, prominently overlooking Staples Corner roundabout and the entrance to Junction 1 of the M1 motorway. The site benefits from a large Insite Illuminated Advertising Sign Board. There is also a further large, dilapidated advertising hoarding that is prominently located providing prominence to the M1 Motorway and the North Circular Road. The entire property is let to various tenants producing a total income of £238,500 pax.

Tenancies

Tenancies All Leases are granted outside of the Landlord and Tenant Act 1954 except for Arches 3 and 5 which are within the security of the Landlord and Tenant Act 1954

ARCH 1 & 2 Let to M. Schembri on a FR&I Lease for a term of Years From 24/06/2013 without further rent review at a rent of £45,000 pax

ARCH 3 Let to Wembley Windows (SC) FR&I Lease for a term of 15 years to expire 9/12/2028 without further rent review at a rent of £23,000 pax

ARCH 4 Let to MH Costa Construction Ltd FR&I Lease for a term of years to expire 24/06/2028 without further rent review at a rent of £18,500 pax

ARCH 5 Let to G Agyeton, FR&I Lease for a term of 15 years from 08/07/2009 The Lease has expired so the tenants are holding over at a rent of £19,500 pax

ARCH 6 Let to Technosport London Ltd FR&I Lease for a term of 15 years from 24/06/2013 without further rent review at a rent of £17,500 pax

YARD AREA Let to A. Hamdo FR&I Lease for a term of 15 years from 24/06/2013 without further rent review at a rent of £60,000 pax

Advertising LET to Insite (Wildstone) for a term of 12 years from 1/08/2015 without further rent review at a rent of £55,000 pax

TOTAL INCOME = £238,500 pax

Viewings

Strictly by appointment through SOLE agents, Christo & Co.

IDENTIFICATION:

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.