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%.