Sold

East Finchley – Day Nursery Investment with 14 years unexpired

250 East End Road, East Finchley, London, N2 8AU

Offers in excess of £6,000,000

Property Type:
Commercial
Sub Type:
Nursery
Tenure:
Freehold
Net Initial Yield:
5.28%

Income

£337,500 per annum

Description

  • Recently opened Day Nursery (October 2020) in the heart of the affluent London neighbourhood of East Finchley.
  • Moments from East Finchley Tube Station (Northern Line to City & West End) ideally placed for commuters dropping off children on their way to work.
  • Long unexpired lease term of 14 years (no breaks).
  • The property has recently been comprehensively refurbished to a very high standard with over £2 million spent on fit out.
  • Full USA parent company guarantee from The Learning Experience Corporation, a very strong covenant who operate from over 250 locations across the United States.
  • 5 yearly rent reviews to the greater of OMRV or annually indexed RPI.
  • Passing rent of £337,500 per annum.
  • Let to a newly formed UK company that is a directly owned subsidiary of The Learning Experience Corporation.
  • Freehold.
  • We are instructed to seek offers in excess of £6,000,000 subject to contract and exclusive of VAT.  An acquisition at this level would provide a net initial yield of 5.28% after allowing for purchaser’s costs of 6.62%.