An opportunity for investors to acquire a freehold commercial investment and three short-lease flats, each with just 58 years unexpired.
The ground and basement floor commercial unit measure c. 1,500 sqft and is occupied by an established restaurant business called 'Yak & Yeti' which has been in occupation for over 15 years. In June 2024 the tenant entered into a new 15-year lease at an initial passing rent of £34,000pa, there are rent reviews every 5th anniversary and no break clauses. The lease includes a personal guarantee, and a deposit is held by the landlord.
The uppers include three flats sold off on long leases with just 58 years unexpired and the ground rents total £400pa. We understand the reversionary value to be in the region of £40,000 per flat and buyers are advised to carry out their own due diligence in this regard.
The property will be sold, subject to Section 5's being served to the long leaseholders.
