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4 Seven Sisters Road, London, N7 6AH
Guide Price* : £575,000
For Sale By Auction - If Not Sold Prior
- Retail Investment Opportunity
- Let until 2026 with an option to extend for a further 5 years
- Producing £37,000 per annum with annual fixed uplifts
- Conversion potential, subject to planning
- Guide Price of £575,000 reflects attractive 6.2% NIY with a reversionary yield of 6.7% following uplifts.
Description
The property comprises a single, self contained, shop unit arranged over ground, first and second floors. The ground floor (481 sq ft) is used as retail space in conjunction with the tenants Bubble Tea Cafe business, whilst the upper parts (First - 155 sq ft, Second - 184 sq ft) are currently used as ancillary storage space.
The property may benefit from residential conversion of the upper parts, subject to vacant possession and obtaining the necessary consents.
Location
The property is situated on the south side of Seven Sisters Road, a busy arterial route in North London connecting Holloway Road and Stamford Hill. The road receives high levels of footfall and includes a number of national occupiers as well as a diverse mix of local traders.
Tenure
Freehold
Tenancy
The entire property is let on a single FRI lease for a term of five years, expiring 02/08/2026. There is a tenants option to extend for a further five years to 02/08/2031.
The current rent payable under the lease is £35,000 per annum with fixed increases detailed below:
03/08/2023 - £37,000
03/08/2024 - £38,000
03/08/2025 - £40,000
The lease is drafted outside the security of tenure provisions of the Landlord and Tenant Act 1954. Furthermore there is a rolling option for the landlord to determine the lease with six months notice.
VAT
We understand the property has been elected for VAT and that it is envisaged the sale will be dealt with as a TOGC
Note
Floor areas are provided by the VOA and are not to be relied upon.
Contact
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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Subject to Contract and Exclusive of VAT © Lambert Smith Hampton April 2025
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