We are proud to present this A1 Commercial Lease Assignment, in the heart of Kings Cross Road, located a short 5 minute walk from Kings Cross Station. Currently running as a 24 hour newsagents with alcohol and Hermes delivery services.

Our client is offering this open and renewable lease, with 7 years remaining. A new Lease can be offered if needed. The premises offers a total floor space of 40.51 m2 (435.96 sq. ft.) approximate. A successful, running business, the takings are £400,000 per annum. This is consisting of Alcohol, store products, ATM machine and Hermes delivery. We have been informed by the seller that the profit margin for this business is £4,000 - £5,000 per month.

Rent:

£18,000 per annum (to be paid monthly not quarterly)

Rent Review – Every 4 years

Opening Times:

Store – 24 hour

Alcohol – Monday to Saturday 8:00 am – 12:00 am

Sunday – 8:00 am – 11:00 pm

Tenure Lease Assignment:

7 Years Remaining (Open/Renewable) Our client has informed us; a new lease can be offered.

Premium:

Our client seeks a premium of £90,000 for goodwill fixtures and fittings.

Legal fees:

The incoming tenant is to bear their own legal costs, as well as the landlords. The seller will bear his own legal costs.

Business Rates:

We have been advised that the rates payable for this property is £7,000 pa. However, interested parties are encouraged to make their own enquiries with The London Borough of Camden. The business could be suitable for small business rates relief; however, we advise that interested parties make their own enquiries to confirm this.