Finchley Road, London, NW11

Shop arranged over ground floor and basement trading as a café/restaurant with a duplex self-contained flat arranged over first and second floors accessed via Temple Fortune Lane. The shop has been trading as a café for many years and has been fitted to a good standard with basement, kitchen & WC, seating area on ground floor and raised ground floor area with fold-back frontage. The commercial premises are let on a 16 year lease from 2015 (details below).

The upper part comprises a 3 bedroom flat with kitchen and bathroom at 1st floor level, together with large reception room and the 2nd floor comprising 3 bedrooms. The flat has been let for a number of years on an AST (details below).

The residential element lends itself (subject to planning) to create two self-contained flats/possible HMO's. There is the right to park at the rear.

Commercial Tenancy
Let on a full repairing and insuring lease from 4th June 2015 for a term of 16 years with 4 yearly rent reviews at £23,500 pa. The rent review of June 2023 is outstanding - not actioned. A rent deposit of £17,250 is held for the term of the lease.

Residential Tenancy
Let on an AST (Assured Shorthold Tenancy) at £16,500 pa. In our view this flat is under-rented.

Location:
Situated in a good position on Finchley Road virtually opposite Mercedes Benz and close to the junction with Temple Fortune Lane, Hendon Park Row and Bridge Lane.

Tenure:
The property is held freehold

Terms:
Offers based on £699,000 sought