HA8 106A Mollison Way, Edgware

LONG LET DENTIST SURGERY INVESTMENT FOR SALE

The property comprises a detached 1930's bungalow arranged over ground floor only with a more recent single storey addition to the rear which has been converted to provide a dental surgery. Construction is mainly of brick beneath a pitched tiled roof. The property benefits from 7 off-street car parking spaces.

The property is let to Confident Dental Practices Limited for a term of 40 years from 11th February 2011 at a current rent of £35,206.06 per annum exclusive on full repairing and insuring terms.

The lease has no breaks and benefits from 4-yearly upward only uncapped CPI indexed-linked rent reviews. The current rent was the result of a January 2023 rent review.

We are instructed to seek offers in the region of £550,000 (Five Hundred and Fifty Thousand Pounds). This represents a net initial yield of 6.1% after allowing for usual purchaser's costs.

Edgware is a predominantly residential suburb of London in the London Borough of Barnet, approximately 10 miles north of Central London, with a resident population of approximately 76,506.

It benefits from excellent transport links, with Queensbury Underground Station a short walk away providing regular Jubilee Line services between Stanmore and West Ham via Central London. Mollison Way is also serviced by multiple bus routes connecting to various other locations within London.

The property is located on the north side of Mollison Way, midway between the A5 to the east and A4140 Honeypot Lane to the west, just to the west of the roundabout connecting with Cotman Gardens and Waltham Drive.

The property forms part of a predominantly residential area just to the west of the retail section of Mollison Way with tenants including Tesco and Coral, as well as numerous independent traders.

Let to My Dentist, the UK's largest network of dental practices

40-year lease expiring 11th February 2041 with no breaks

4-yearly uncapped CPI indexed-linked rent reviews

VAT free investment