£800,000
(£660.07/sq. ft)
Retail premises for sale190 Fore Street, London N18
1,212 sq. ft
About this property
Rare opportunity to acquire a 999-year long leasehold interest (996 years unexpired) of a well secured investment in a well-located North London retail investment.
The property comprises a ground-floor retail premises extending to approximately 1,212 sq ft (112.57 sq m).
The property benefits from an established, operational Bingo License.
Fully let to Merkur Slots UK Limited on a 15-year lease from 24 April 2023, producing £80,000 per annum.
Approximately 6.7 years’ term certain to the tenant break on 23 April 2033 and 11.7 years to lease expiry.
The lease benefits from an upwards-only rent review in 2028 & 2033.
Merkur Slots UK Limited is an established national gaming operator which reported turnover of £213.7 million and net assets of £18.8 million for the year ended 31 December 2025.
Price: £800,000 (Eight Hundred Thousand Pounds), subject to contract, reflecting a net initial yield of 9.50%, subject to purchaser’s costs.
The property comprises a well-configured ground-floor retail unit forming part of a mixed-use parade on Fore Street.
The accommodation extends to approximately 1,212 sq ft (112.57 sq m) and benefits from a prominent glazed frontage, open sales area and rear ancillary accommodation.
The unit is fitted and trading as a Merkur Slots gaming venue. The lease permits adult gaming and amusement centre use, Class E use, or another use approved by the landlord in accordance with the lease.
The established bingo license may carry additional scarcity value given the increased planning scrutiny applicable to new gambling premises, following the decision to scrap the aim to permit licensing rule.
Location
The property occupies a prominent position on the east side of Fore Street, close to its junction with Raynham Road, in the densely populated North London suburb of Upper Edmonton.
Fore Street forms part of the A1010, providing direct access towards Central London and the A406 North Circular Road, which is approximately 600 metres from the property.
Silver Street station is within a short walk and provides direct Weaver line services to Seven Sisters, Hackney Downs and London Liverpool Street. Nearby occupiers include Lidl, Tesco Express, Subway, Pizza Hut, kfc, Padd Power and Admiral Casino, together with a broad mix of established independent retailers and restaurants.
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