Available
London N15 – Dental Practice
106 High Road, Tottenham, London N15 6JRFreehold Dental Practice and Residential Ground Rent Investment
Price
£450,000
Rent P.A.
£22,100
Yield
4.91%
Tenure
Freehold
Lease Term
15 Years
Years Left on Lease
8y 7m
Area
1,474 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor shop trading as a dental practice and two flats above sold-off.
- Ground floor commercial let until 2034 (No breaks). Rent review for 2024 outstanding
- First Floor Flat and Second/Third Floor Flat sold-off on 99-year long leasehold from 25th March 1987 (61 years remaining). Opportunity for premium to extend each flat leasehold.
- Located within short walk to South Tottenham Overground Station. Nearby occupiers include pharmacy, butcher, takeaway and convenience store, amongst others
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor shop, currently operating as a dental practice. The upper parts consist of two flats that are sold-off. The ground floor commercial tenant, Clacton Dental Care, provides NHS services and also have some of the most sophisticated dental equipment and cosmetic dentistry treatments offering, including world famous Invisalign, 3D Itero scanning and teeth whitening.
Ground Floor: 137 sq m (1,474 sq ft)
Reception, Surgery Rooms, Office, Storage, Staff WC
First Floor Flat: sold-off
Second & Third Floor Flat: sold-off
Ground Floor: 137 sq m (1,474 sq ft)
Reception, Surgery Rooms, Office, Storage, Staff WC
First Floor Flat: sold-off
Second & Third Floor Flat: sold-off
Tenancy Description
The property is let to Clacton Dental Care Ltd* for a term of 15 years from 1st May 2019 at a current rent of £22,000 per annum and the lease contains full repairing and insuring covenants. Rent review in 2024 is outstanding and next review will be in 2029. No break clause.
First Floor Flat and Second/Third Floor Flat sold-off on 99-year long leasehold from 25th March 1987 with current ground rent of £50 p.a. each flat (£100 p.a.). Reversion on each flat is 2086 (61 years remaining). Opportunity for premium to extend each flat leasehold.
*Note - Clacton Dental Care is a large dental practice operator with more than 30 locations across UK.
First Floor Flat and Second/Third Floor Flat sold-off on 99-year long leasehold from 25th March 1987 with current ground rent of £50 p.a. each flat (£100 p.a.). Reversion on each flat is 2086 (61 years remaining). Opportunity for premium to extend each flat leasehold.
*Note - Clacton Dental Care is a large dental practice operator with more than 30 locations across UK.
Tenancies & Accommodation
Location Description
Tottenham is a large town in north London, England, located in the historic county of Middlesex. It is centred 6 miles (10 km) north-northeast of Charing Cross, bordering Edmonton to the north, Walthamstow, across the River Lea, to the east, and Stamford Hill to the south, with Wood Green and Harringay to the west. The property is located within short walk to South Tottenham Overground Station. Nearby occupiers include pharmacy, butcher, takeaway and convenience store, amongst others.
