Summary
A rarely available Freehold shop and upper parts investment opportunity in West Hampstead. Situated on a prominent corner location, opposite West End Green, Waitrose and the Fire Station.
The retail element is let to The Grocery Post, an exciting deli and wine retailer, on a rare 25-year lease from 27 February 2023, expiring 26 February 2048, at a rent of £42,500 per annum. The Full Repairing and Insuring lease is contracted outside the Landlord and Tenant Act 1954 with five-yearly upward-only open market rent reviews from 27 February 2028.
The first floor flat is let on an APT at £26,256 per annum, with the tenants having been in occupation since 2020. The second floor flat is sold off on a 125 year long lease from 29 September 1986 at a ground rent of £100 pa rising to £150 pa in 2046, please note the second floor flat has not been inspected.
280 West End Lane offers investors an excellent opportunity to acquire a prominent West Hampstead trophy asset with secure income from both commercial and residential elements.
Key Points
Prime West Hampstead location - opposite West End Green and WaitroseGround floor let to Grocery Post at £42,500 per annum exclusive, on a 25 year FRI lease from 27 February 2023, expiring 26 February 2048First floor flat let on an APT at £26,256 paSecond floor flat sold on long lease 125 years from September 1986 (85 years unexpired)Gross yield approx. 6.26%Established retailer and one of West Hampstead most loved deli'sViewings
Via arrangement with Dutch & Dutch
Investment summary
Total income: £68,850 per annum, a gross initial yield of 6.26% before purchaser's costs.
Location
The property occupies a prominent position on West End Lane in the heart of West Hampstead, one of North West London's most affluent and villages. Situated opposite West End Green and the Waitrose supermarket, the property benefits from excellent visibility, high levels of pedestrian footfall and a vibrant mix of independent retailers, national occupiers, cafés, restaurants and local amenities.
Transport links are excellent, with West Hampstead Underground Station (Jubilee Line), West Hampstead Thameslink, and West Hampstead Overground all within a short walk, providing fast connections to Central London, the City, Canary Wharf, Luton Airport and beyond. Numerous bus routes also serve West End Lane and the surrounding area.
Terms
Freehold