Palmers Green, London, N13 5ST

  • Fopr Sale

    Guide Price: £675,000

  • Approximate Size

    2,382 SQ FT

  • Reference

    AMP3930

  • Listing Type

    For Sale

Key Features

  • Single storey Doctors Surgery with 2 bed maisonette
  • Approximately 1,620 sq ft of ground floor commercial space (currently let to a Doctors Surgery)
  • Current FRI lease expired on the 30th June 2016 and holding over
  • Let for £25,900 PA which is under market value, with an ERV of £40,000 PA (£25 PSF)
  • 2 Bed maisonette is offered subject to an existing tenancy, expiring on the 11th March 2024
  • Maisonette currently Let at £15,480, with an ERV of £19,200 PA
  • Total combined income – £41,380 PA combined ERV £59,200 PA

Location

The premises is located just off Hedge Lane which provides quick access to the A406. The surrounding area is mainly residential, with the prominent Green Lanes street at the other end of Hedge Lane, providing a mixture of different amenities including retail shops, restaurants, supermarkets and cafe’s.

There are a number of useful bus services located nearby the property, as well as being within walking distance of Palmers Green station, which provides Great Northern Train services. Winchmore Hill Station is the second closest station to the property, located 1.3 miles away from the site, which provides the same services as Palmers Green Station. Southgate station is within 1.7 miles from the premises, which provides Piccadilly line services throughout London to Uxbridge & Heathrow airport. The property also benefits from being located within walking distance from Hazelwood Recreation Ground which may be useful for certain occupiers.

Description

Commercial

The commercial element comprises a single storey doctors surgery which benefits from E use. The current tenant ‘Medicus Health Partners’ are holding over on a full repairing and insuring lease that expired on the 30th June 2016. The lease is inside the Landlord and Tenant Act 1954 and the rent is currently £25,900 per annum which is below market value. The ERV is £40,000 per annum (£25 psf).

There is an opportunity to regear on new terms to be negotiated with the existing tenants or other alternative occupiers including Nursery, Education & Religious – subject to necessary consents.

Approximate size – 1,620. sq, ft with demised outdoor space.

Residential

This property contains a 2 bedroom maisonette which is arranged over ground and first floor. There are kitchen facilities on the ground floor, with bedroom, bathroom and WC facilities on the 1st floor. There is potential for further development by way of loft conversion. It is being offered subject to an existing 12 month AST which expires on 11th March 2024. Currently let below market value at £15,480 per annum. The ERV is £19,200 per annum.

Approximate size – 762 sq. ft

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+44 (0)207 100 2348

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