Co-op Food t/a Nisa Local, Enfield, Greater London

Property Description

• Freehold blue-chip, convenience store & residential ground rent investment
• The property forms a detached two storey property arranged as a convenience store on the ground floor and basement and residential accommodation on the first floor
• The property was formerly a pub and has been recently converted and refurbished
• There is a small garden to the rear
• Sub-let to an individual t/a Nisa Local

Location Description

• The property is situated at the western end of Lancaster Road close to the junction with Chase Side
• The immediate area comprises secondary retail, several large residential estates and 3 primary schools
• The London Borough of Enfield is home to over 300,000 people with its centre located 1 mile to the south of the property
• Gordon Hill overground station is within walking distance and road connections to the area are reasonable with Lancaster Road interconnecting with Carterhatch Lane via Baker Street giving access to the A10 which links to jct 25 of the M25 motorway with Central London

Tenancy Schedule

• Let to Co-op Group Food Ltd for 15 years from April 2014 with a current passing rent of £56,000 p.a.
• The lease provides for 5 yearly RPI-linked rent reviewed capped at 4% p.a. compounded
• Rent has been topped up to the minimum expected increase in 2024 to £62,907.37