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Key features
- Freehold Mixed-Use Investment & Development Opportunity , Kentish Town NW5
- Current Rental Income £94,700
- Assuming completion of the third-floor flat and implementation of the consented planning permission for two further two-bedroom flats: potential fully let income £193.700 .
- Development Potential
Description
Prominently situated on the west side of Kentish Town Road (A400), in the heart of Kentish Town's thriving retail centre. The property occupies a busy trading position between Regis Road and Holmes Road, close to national and local occupiers including Franco Manca, Iceland, Sainsbury's and Co-op.
The property benefits from excellent transport links, being within walking distance of Kentish Town Underground Station (Northern Line) and Kentish Town West Overground Station. Kentish Town is a highly sought-after North London suburb located between Camden and Highgate.
Ground Floor Commercial Accommodation
317-319 Kentish Town Road comprises ground floor retail premises currently let to Done Brothers (Cash Betting) Limited, trading as Betfred, on the following principal terms:
•Lease term: 10 years from 22 January 2024
•Passing rent: £50,000 per annum exclusive
•Rent review: 22 January 2029
•Tenant break option: 21 January 2029
•Use: Sui Generis
•Approximate floor area: 4144 sq ft
Asset Management Opportunity
The landlord is currently negotiating the recovery of the frontage at 317 Kentish Town Road. Subject to agreement and any necessary consents, this element is considered capable of producing an estimated rental income of approximately £44,500 per annum, whilst Betfred would retain occupation of the rear section at 319 Kentish Town Road at a proposed rent of approximately £32,500 per annum exclusive.
Planning permission has been granted for the creation of two additional two-bedroom flats accessed via York Rise under planning reference: 2019/2014/PWorks have not yet commenced. Prospective purchasers should satisfy themselves through their own due diligence regarding planning consent and development potential.
Current Income
AccommodationIncome (£ pa)
Betfred (Ground Floor) £50,000
First Floor Flat £23,400
Second Floor Flat £21,300
Current Total Income £94,700
Future Development Scenario
Assuming completion of the third-floor flat and implementation of the consented planning permission for two further two-bedroom flats:
AccommodationProjected Income (£ pa)
317 Frontage Commercial Unit £44,500
319 Rear Commercial Unit (Betfred) £32,500
First Floor Flat£23,400 | Second Floor Flat | £21,300 | | Third Floor Flat (Estimated) | £24,000 | | New Two-Bed Flat 1 (Estimated) | £24,000 | | New Two-Bed Flat 2 (Estimated) | £24,000 | | Potential Fully Let Income | £193,700 pa |
*Estimated Rental Value only. Purchasers should rely upon their own investigation.
