Self-contained building, under the same family ownership since 1895, providing prime A1 accommodation over ground and basement and C3 accommodation in the form of a 3-bedroom duplex maisonette over the first and second floors. Residential apartment is accessed by a separate entrance via Camden High Street.
We understand that the building does not have any planning history and solely serves A1 accommodation at basement and ground floor level, in addition to C3 accommodation over the first and second floors.
The property is currently occupied entirely by one independent tenant, on an FRI lease, until 30th May 2027 at a rent of £150,000 per annum. The lease includes a rent review on 31st May 2023. The tenant currently uses the upper parts as additional storage space; however, the lease permits the tenant to underlet the apartment on an residential AST (to one family), subject to Landlord’s consent.
Additionally, the property benefits from an 8-year advertising licence agreement with Antaeus Grafitti Ltd t/a Global Street Art, receiving £9,000 per annum from the date of commencement of each hand painted advertising campaign. Rising to £10,000 per annum of 4th anniversary of Fee Commencement.
The lease is contracted outside the Landlord and Tenant Act 1954.