£1,550,000
(£246.82/sq. ft)
Leisure/hospitality for saleFlower Lane, London NW7
6,280 sq. ft
About this property
Mill Hill is a popular and affluent North London
suburb within the London Borough of Barnet and is
located approximately 10 miles North West of
Central London. Barnet is the second largest
Borough by population with approximately 389,000
residents.
Mill Hill Broadway has excellent transport links
being close to M1, A1 & M25 motorways.
Mill Hill mainline station (Thameslink) within a close
walk provides a speedy service to Central London.
Titan court is located on the corner of Hartley
Avenue and Flower Lane by the junction of
The Broadway and is served by many national and
independent shops, restaurants and coffee bars
including Marks & Spencer, Gails, Pizza Express, Boots etc.
Titan Court, constructed circa 2014, comprises a high-class residential
development of 42 luxury private
apartments together with commercial
accommodation on the ground floor (Class
E) operating as an Anytime Fitness gym, accessed from Flower Lane. The premises
have a floor area of 6,280 sq ft approx
tenancy & income Let to Spareryb Enterprises
Ltd, a franchisee of Anytime Fitness on a full repairing
and insuring lease for a term of 15 years commencing
September 2015 subject to upward only rent reviews
at 5 yearly intervals capped at 5% per annum. The
September 2020 rent review was not implemented
as a result of Covid. There is a tenant’s option to
determine in September 2025.
The current rental is £116,272 per annum exclusive.
A £45,000 rent deposit plus VAT is held throughout
the term, refundable subject to 3 consecutive years
showing a net profit of 2.5 x of the annual rent.
Tenure Held for a term of 150 years (less 3 days)
commencing 9 May 2012 at a ground rent of
£2,145.26 per annum doubling every 25 years.
Price Offers are invited in excess of £1.5
million (One Million Five Hundred Thousand Pounds), subject to contract.
VAT The property has been elected for VAT. It is
anticipated that the sale will be treated as a transfer
of a going concern (togc).
Legal costs Each party to be responsible for
their own costs incurred.
suburb within the London Borough of Barnet and is
located approximately 10 miles North West of
Central London. Barnet is the second largest
Borough by population with approximately 389,000
residents.
Mill Hill Broadway has excellent transport links
being close to M1, A1 & M25 motorways.
Mill Hill mainline station (Thameslink) within a close
walk provides a speedy service to Central London.
Titan court is located on the corner of Hartley
Avenue and Flower Lane by the junction of
The Broadway and is served by many national and
independent shops, restaurants and coffee bars
including Marks & Spencer, Gails, Pizza Express, Boots etc.
Titan Court, constructed circa 2014, comprises a high-class residential
development of 42 luxury private
apartments together with commercial
accommodation on the ground floor (Class
E) operating as an Anytime Fitness gym, accessed from Flower Lane. The premises
have a floor area of 6,280 sq ft approx
tenancy & income Let to Spareryb Enterprises
Ltd, a franchisee of Anytime Fitness on a full repairing
and insuring lease for a term of 15 years commencing
September 2015 subject to upward only rent reviews
at 5 yearly intervals capped at 5% per annum. The
September 2020 rent review was not implemented
as a result of Covid. There is a tenant’s option to
determine in September 2025.
The current rental is £116,272 per annum exclusive.
A £45,000 rent deposit plus VAT is held throughout
the term, refundable subject to 3 consecutive years
showing a net profit of 2.5 x of the annual rent.
Tenure Held for a term of 150 years (less 3 days)
commencing 9 May 2012 at a ground rent of
£2,145.26 per annum doubling every 25 years.
Price Offers are invited in excess of £1.5
million (One Million Five Hundred Thousand Pounds), subject to contract.
VAT The property has been elected for VAT. It is
anticipated that the sale will be treated as a transfer
of a going concern (togc).
Legal costs Each party to be responsible for
their own costs incurred.
Mortgage calculator
Monthly repayment
£7,753 per month
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