Mixed use

FREEHOLD MIXED USE INVESTMENT

CURRENTLY HELD UNDER A SINGLE COMMERIAL LEASE

Selling on behalf of executors (Probate applied for)

This prominent corner sited restaurant occupies a double unit with the benefit of the 2 residential flats above – all currently let as a whole on a combined commercial lease.

A brief summary of accommodation is overleaf, but it should be noted that this freehold sale will be subject to the commercial lease already in place, established for a term of 20 years in

June 2006, with a passing rent of £70,000 per annum – and subject to a 5-yearly rent review pattern.

The lease is held on Full Repairing and Insuring terms, with landlord consent for the tenant to sub-let the upper parts.

Occupying a corner position along the busy Whetstone High Road, other commercial properties nearby include a number of large, as well as independent, restaurants, cafes & coffee shops - which include an M&S Food Hall, Waitrose, Boots and Costa Coffee.

The area is generally well served by public transport, including Totteridge & Whetstone underground station (Northern Line) which is within a third of a mile of the property.

To be sold subject to the existing commercial lease.

OFFERS INVITED FOR THE FREEHOLD INTEREST - SUBJECT TO THE EXISTING COMMERCIAL LEASE

Accommodation (all sizes are approximate):

Mala Restaurant

Front of House – main restaurant area and bar

Right hand side 28’ x 17’ (8.53m x 5.18m)

Left Hand Side 23’ x 17’ (7.01m x 5.18m)

Inner Lobby leading through to;

Kitchen 19’9 max x 17’ max (6.02m x 5.18m) (including chiller)

WC area 17’2 x 10’2 (5.23m x 3.10m)

This area includes; staff toilet, disabled toilet, customer toilet and rear lobby.

Business Rates:

According to the VOA web site, the Rateable Value from April 2023 is £45,250. Billing Authority - The London Borough of Barnet.

CEPC Rating: C: 71

GIA: Approximately 1,381ft² (128.3m²)

FLATS: 1359a (at the end), and 1357a (mid)

Both are accessed via a rear service road, with stairs rising to a rear terrace, providing access to each flat.

Each flat is arranged over 2 floors, and comprises kitchen & reception on the lower floor, and 3 bedrooms & bathroom on the top floor.

Each flat is approximately 796ft² (74m²)

Council Tax: 1357a: Band B -- 1359a: Band C

Both have a current energy rating of D.