223/223a camden high street, london, nw1 7bu 2,322€¦ · 20/1/2020 · camden high street allows...
TRANSCRIPT
FREEHOLD INVESTMENT FOR SALE Under the same family ownership since 1895, this mixed-use, income producing investment opportunity is offered to the market for the first time in over 125 years.
2,322 SQ. FT. NIA (216.00 SQ. M.)
CAMDEN 223/223A CAMDEN HIGH STREET, LONDON, NW1 7BU
CAMDEN | 223 Camden High Street, NW1 7BU
TSP is Regulated by RICS | RICS Firm No. 717029 | Company Registration No. 6807280 | VAT No. 977 5366. Registered address 112-116 New Oxford Street, London, WC1A 1HH. The Particulars do not form part of any offer of contract. These
are issued as a general guide, but do not constitute representation of fact. Parties should satisfy themselves as to the accuracy stated, all prices/rents are quoted exclusive of VAT.
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LOCATION The building is located on Camden High Street, between Inverness Street and Jamestown Road. Camden
High Street allows direct access to Mornington Crescent & Euston to the south, and Kentish Town & Belsize
Park to the north.
Public transport links are excellent with bus routes running along Camden High Street and Camden Road.
The property is also located opposite Camden Town tube station (Northern Line) and a short walk to
Camden Road station (London Overground).
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DESCRIPTION
Self-contained building, under the same family ownership since 1895, providing prime A1
accommodation over ground and basement and C3 accommodation in the form of a 3-bedroom
duplex maisonette over the first and second floors. Residential apartment is accessed by a
separate entrance via Camden High Street.
_ PLANNING AND TENURE We understand that the building does not have any planning history and solely serves A1
accommodation at basement and ground floor level, in addition to C3 accommodation over the
first and second floors.
The property is currently occupied entirely by one tenant, on an FRI lease, until 30th May 2027 at a rent of £150,000 per annum. The lease includes a rent review on 31st May 2023. The tenant currently uses the upper parts as additional storage space; however, the lease permits the tenant to underlet the apartment on an residential AST (to one family), subject to Landlord’s consent.
Additionally, the property benefits from an 8-year advertising licence agreement with Antaeus Grafitti Ltd t/a Global Street Art, receiving £9,000 per annum from the date of commencement of each hand painted advertising campaign. Rising to £10,000 per annum of 4th anniversary of Fee Commencement.
The lease is contracted outside the Landlord and Tenant Act 1954.
DESCRIPTION SQ. FT SQ. M
Second 465 43.2
First / Ground Floor Hallway 609 56.6
Ground (Retail) 611 56.8
Lower Ground (Storage) 636 59.1
TOTAL 2,322 216
_ AMENITIES ▪ Self-contained building
▪ Mixed use of A1 & C3 accommodation
▪ Separate entrances for each use class within the building
▪ Advertising licence offering additional income when in place
▪ Prime high-street location
CAMDEN | 223 Camden High Street, NW1 7BU
TSP is Regulated by RICS | RICS Firm No. 717029 | Company Registration No. 6807280 | VAT No. 977 5366. Registered address 112-116 New Oxford Street, London, WC1A 1HH. The Particulars do not form part of any offer of contract. These
are issued as a general guide, but do not constitute representation of fact. Parties should satisfy themselves as to the accuracy stated, all prices/rents are quoted exclusive of VAT.
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PLANNING
The property is located within the Borough of Camden.
The property is not listed and does not fall within a conservation area.
TENURE
Freehold.
TENANCY
The property is let until May 2027 receiving a rent of £150,000 per annum. Rent review due in
May 2023. Additional advertising licencing agreement in place.
USE CLASS
A1 & C3.
PROPOSAL
Inviting Offer in Excess of £2,750,000 (£1,184 psf) subject to contract and exclusive of VAT. An
acquisition at this level reflects a net initial yield of 5.11%, assuming purchasing costs of 6.8%.
VAT
The building is not elected for VAT.
EPC
Available on request
MEASUREMENTS
N.B. The measurement quoted is from information provided by the landlord and is subject to on-
site verification.
_ FOR FURTHER INFORMATION PLEASE CONTACT SOLE AGENTS
January 2020
TSP
020 7284 9040
Bradley Sharp
020 3813 3334
Jonathan Vanstone-Walker
020 7284 9044
David Simnock
020 7284 9050
www.tspuk.com