No longer on the market
This property is no longer on the market
Floorplan
MapProperty
Under offer
Property
1654
Features and description
- Freehold
- Income Producing Retail
- 6 x Ground Rents Totalling £1,200 Per Annum
- End of Terrace Building
- Use Class E
- EPC Rating C
- VAT not Applicable
- Corner Frontage
Description
An opportunity to acquire a freehold building in a busy location on Queens Crescent. The ground floor retail is mostly open plan with excellent natural light, a kitchen / break out room to the rear and WCs.
The six flats located above were sold off on 125-year leases commencing in June 2012, expiring in June 2137. Each flat pays an annual ground rent of £200 (£1,200 per annum total), which increases by £200 every 25 years.
Total income from the retail and ground rents total £31,200 per annum.
Location
Queens Crescent in NW5 is a bustling and vibrant area known for its rich history and community spirit. Located between the neighbourhoods of Kentish Town and Gospel Oak, this charming crescent is home to a mix of independent shops, cafes, and restaurants, offering a taste of local life with a modern twist.
Queens Crescent is particularly famous for its lively street market, one of the oldest in London. Held twice a week, the market is a hub for fresh produce, household items, and unique finds, creating a bustling atmosphere that draws locals and visitors alike.
The area boasts excellent transport links, making it accessible for commuters and explorers. With nearby green spaces like Hampstead Heath and Parliament Hill just a short stroll away.
Lease
The property is leased to the gaming company Rogues Quarter Limited under a term beginning on 1st May 2020, and ending on 30th April 2030. The lease is exempt from the provisions of the 1954 Landlord and Tenant Act.
A rent review is scheduled for May 1, 2025. The tenant has an option to determine the lease on 1st November 2025, providing 6 months prior written notice.
The current passing rent is £30,000 per annum, with a rent deposit of £9,000 held.
An opportunity to acquire a freehold building in a busy location on Queens Crescent. The ground floor retail is mostly open plan with excellent natural light, a kitchen / break out room to the rear and WCs.
The six flats located above were sold off on 125-year leases commencing in June 2012, expiring in June 2137. Each flat pays an annual ground rent of £200 (£1,200 per annum total), which increases by £200 every 25 years.
Total income from the retail and ground rents total £31,200 per annum.
Location
Queens Crescent in NW5 is a bustling and vibrant area known for its rich history and community spirit. Located between the neighbourhoods of Kentish Town and Gospel Oak, this charming crescent is home to a mix of independent shops, cafes, and restaurants, offering a taste of local life with a modern twist.
Queens Crescent is particularly famous for its lively street market, one of the oldest in London. Held twice a week, the market is a hub for fresh produce, household items, and unique finds, creating a bustling atmosphere that draws locals and visitors alike.
The area boasts excellent transport links, making it accessible for commuters and explorers. With nearby green spaces like Hampstead Heath and Parliament Hill just a short stroll away.
Lease
The property is leased to the gaming company Rogues Quarter Limited under a term beginning on 1st May 2020, and ending on 30th April 2030. The lease is exempt from the provisions of the 1954 Landlord and Tenant Act.
A rent review is scheduled for May 1, 2025. The tenant has an option to determine the lease on 1st November 2025, providing 6 months prior written notice.
The current passing rent is £30,000 per annum, with a rent deposit of £9,000 held.
Property information from this agent
About this agent
Forest Real Estate is a young, independent commercial agency with a primary focus on the Office and Industrial/Logistics markets across Central & Greater London, as well as the Home Counties. With a strong market presence, we are recognised as a trusted partner for both small and large commercial real estate owners, delivering innovative marketing solutions tailored to each asset. We provide Landlords and Tenants with comprehensive advice, backed by market data and deep expertise in our sectors.