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Holloway Road, London, N7

POA
CBRE Ltd, London (Licensed, Leisure & Hotel Property)
SIZE AVAILABLE

70,068 sq ft

6,510 sq m

SECTOR

Leisure facility for sale

USE CLASSUse class orders: Sui Generis

sui_generis_3

Key features

  • Opportunity to acquire a prime greater london freehold interest (NGL241436) of a luxury 7 screen cinema.
  • Let to Odeon Cinemas Limited, expiring 30/06/2038, providing 13.2 years unexpired.
  • Prominently located in an affluent London suburb, within close proximity to Holloway Road Underground station and Central London (<2 miles).
  • Situated on a 0.7 acre site, within a key gateway location fronting Holloway Road (A1).
  • Originally constructed in the 1930s, benefitting from substantial investment in 2019 (£4.5m) to full recline and modernise the cinema.
  • The property extends to a total GIA of 70,068 sqft (6,509 sqm). With plant rooms and basement removed, the GIA extends to 52,215 sqft (4,851 sqm).
  • The current rent passing is £811,887 (£15.55), expected to increase by 3% at next review in July 2025 to £836,243 (£16.02).
  • The rent is reviewd annually to RPI with a collar and cap of 1% and 5%.

Description

Odeon Luxe Holloway, originally the Gaumont, was built in 1938. The property was designed by the prominent American architect C. Howard Crane. It is a Grade II listed building and was originally built as a 3,006 seat auditorium, including a 220 seat restaurant above the foyer entrance. Its first film was shown on the 5th September 1938 (The Hurricane). The cinema was renamed Odeon in 1963 and in 1973 was converted into three screens.

The cinema was renamed to Odeon Luxe in 2019, following a substantial multi-million pound investment to recline the current seven screen cinema into the operation it is today. It is built of a steel frame, with concrete and brick rendered elevations with a mix of flat and pitched roofing.

The cinema comprises of 499 fully reclined seats across 7 screens and is arranged over 3 floors in addition to a full height basement. There are 6 retail units fronting Holloway Road, one of which is occupied with Odeon considering underletting the remainder which are currently vacant.

The property extends to an approximate Adjusted GIA of 52,215 sq ft (4,851 sq m) excluding the basement and third floor plant area.

Brochures

Holloway Road, London, N7

Approximate location
Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Upper Holloway Station0.5 miles
  • Holloway Road Station0.6 miles
  • Tufnell Park Station0.7 miles

About CBRE Ltd, London (Licensed, Leisure & Hotel Property)

Henrietta House Henrietta Place, London, W1G 0NB

With an integrated network of over 300 wholly owned offices in more than 50 countries, our commercial property consultants advise more clients globally than any other commercial property adviser.

We work with occupiers, investors and developers of office, industrial, residential, retail and hotel property, providing strategic advice and execution for sales and leasing; tenant representation; corporate services; facilities, property and project management; appraisal and valuation; development services; investment management; energy and sustainability services, and research and consulting. To provide this service in the UK alone we have approximately 1,600 people with offices in Aberdeen, Belfast, Birmingham, Bristol, Edinburgh, Glasgow, Jersey, Leeds, Liverpool, London, Manchester, Sheffield and Southampton.

Notes

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Disclaimer - Property reference Odeon_Luxe_Holloway. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by CBRE Ltd, London (Licensed, Leisure & Hotel Property). Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data ©OpenStreetMap contributors.

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