872 Finchley Rd
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872 Finchley Rd
724 SF 100% Leased Retail Building London NW11 6AH For Sale
Investment Highlights
- Offers of £4,800,000 and above are encouraged
- Rental review in 2027 expecting yield to increase to approximately 5%
- Total site area of 0.4 acres
- Currently leased to blue chip company Esso
Executive Summary
Location - Superbly situated Virtual Freehold filling station and convenience store investment opportunity. Located in Golders Green, North West London area which is an affluent North London suburb, the site is situated on Finchley Road. The property is located in an excellent and prominent corner position, fronting Finchley Road (A598), and 100 metres from North Circular Road (A406) and the A1, in a predominantly residential area. The petrol station has the benefit of 8 filling points across 4 pump islands and air/water and vacuum facilities . The property provides for Convenience Store (GIA) – 67.28 sq m (724 sq ft) with total Site Area – 0.16 Hectares (0.4 Acres)
Current Tenancy & Future Investment income potential - Long Leasehold site held by the seller for a term of 999 years from June 1957 . The site is entirely leased to Rontec Roadside operating as a Esso branded petrol station and a convenience store trading as Shop' n' Drive until June 2027 at a current passing rent of £113,842 per annum. The lease provides 2% per annum compounded rental increases receivable every year of the term and contains full repairing and insuring covenants. Future minimum rental income of circa £250,000 / annum after the expiry of current lease in 2027.
Development Opportunity - Superb mixed-use residential led development potential with capital values in the area achieving in excess of £1,000 Per Square Foot (subject to existing leases and all necessary planning consents). Pre-approval for development of residential block comprising 18 units GDA 18,000 to 20,000 sqft has been favoured by Barnet council and Hampstead Garden Suburb Trust .
Current Tenancy & Future Investment income potential - Long Leasehold site held by the seller for a term of 999 years from June 1957 . The site is entirely leased to Rontec Roadside operating as a Esso branded petrol station and a convenience store trading as Shop' n' Drive until June 2027 at a current passing rent of £113,842 per annum. The lease provides 2% per annum compounded rental increases receivable every year of the term and contains full repairing and insuring covenants. Future minimum rental income of circa £250,000 / annum after the expiry of current lease in 2027.
Development Opportunity - Superb mixed-use residential led development potential with capital values in the area achieving in excess of £1,000 Per Square Foot (subject to existing leases and all necessary planning consents). Pre-approval for development of residential block comprising 18 units GDA 18,000 to 20,000 sqft has been favoured by Barnet council and Hampstead Garden Suburb Trust .
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Building Size
724 SF
Building Class
B
Year Built
1958
NOI
$205,333 CAD
Percent Leased
100%
Building Height
1 Story
Building FAR
0.04
Land Acres
0.40 AC
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872 Finchley Rd
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