A store under construction with a long-term lease agreement.
Price options 2,750,000 £ but forward fund in three stage payments or 3,000,000 £ forward commit which mean to pay between 5 – 10% now and the rest on completion.
The cost of the property is 3,000,000 £.
Absolute annual income is 125,000 £.
The current yield of 4.2%.
The tenant is an international chain of clothing stores with more than 880 outlets all over the world. The annual turnover of the company exceeds 9,000 billion pounds.
Lease agreement is valid for 20 years and provides 3 month rent free period. Rent is reviewed every 5 years according to the consumer price index.
The brokerage fee is 2%.
Location and nearby infrastructure
The property is located in the Finchley district, in northern London. There are are many attractions here: the Church of St. Mary of XIII century, Avenue House, built in 1859 and representing an ancient Victorian building, ”College Farm“ — the last dairy farm in Finchley, the center of Judaism, located in the old manor.