Rare opportunity to acquire a prominent freehold retail investment let to Ladbrokes Betting & Gaming Limited
Subject property benefits from rental income of £55,000pax, with Ladbrokes having an overriding lease on the whole building
Freehold ownership will include ground floor retail unit and offices in the upper parts (first & second floors)
Plans submitted to Barnet council to convert the upper parts to 6 x studio apartments under permitted development
Ladbrokes existing lease expires in April 2022
A sale was arranged following a full marketing campaign for a price of £1,100,000 which represented a 5% NIY on the existing income. Contracts were exchanged within 5 working days and completion took place 3 working days later.
