• Type: Central London Leisure & Residential Investment
  • Tenure: Freehold
  • Rental Income: £331,632 p.a
  • Size: Total NIA - 873 sq m (9,396 sq ft)
  • Yield: Net Initial Yield of 6.97%

Property Description

The property comprises a Georgian building arranged over basement, ground and two upper floors with a gross internal area of 873 sq m (9,396 sq ft).

The building has been redeveloped and extended to provide the retention of the basement and ground floor Table Dancing Club, six residential units to teh upper two floors and a 4/5 bedroom terraced town house adjacent on Doric Way.

'Secrets', a successful table dancing club operator will take a new minimum 15 year lease with five yearly upwards only  to rent reviews to RPI capped and collared at 1% and 4% at a passing rent of £120,000 p.a. The club benefits from a valuable early morning licence up to 6am.

The residential element comprising six residential flats and a townhouse are all let on ASTs generating £211,632 p.a.

There may be potential subject to planning to create additional flats at third floor level.

Location

Prominent location on Eversholt Street directly opposite Euston Station, a major Central London transport hub destination.

The immediate area provides a mix of commercial and residential uses. Large local business occupiers include Network Rail, Bank of Taiwan, Grant Thornton, Unison and Wellcome Trust. Local amenities to support business, residents and visitors include the British Library, British Museum, University College Hospital, the Royal Academy of Music, Regent's Park and London Zoo as well as numerous cafes, restaurants and leisure facilities.

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