Sold
Tottenham, London, N17 – Freehold Government Let Office Building
640-656 High Road, Tottenham, London, N17 0AD
Offers in excess of £6,500,000
- Property Type:
- Commercial
- Sub Type:
- Office
- Tenure:
- Freehold
- Net Initial Yield:
- 5.1%
Income
£354,858 pa
Description
- Attractive office building comprising 19,992 sq ft (NIA) on Tottenham High Road.
- Let to the Secretary of State for Communities, Housing and Local Government (Job Centre).
- First time on the market since building constructed in 1973.
- Let for a further 8 years with no breaks.
- Tenant has been in occupation for 47 years.
- Current rent passing £354,858 pa (£17.75 psf).
- PD approval for conversion of upper floors to 33 flats.
- Offers sought in excess of £6,500,000 which shows a net initial yield of 5.1%
and a capital value of £325 psf.