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RIB’s Investment Team was tasked with the sale of a mixed-use Freehold building
RIB’s Investment Team was tasked with the sale of a mixed-use Freehold building with planning permission for further development in Barnet, North London.
About the property
The building comprised two Class E retail premises on the ground floor with four residential flats above. One of the commercial premises is a fully fitty established Italian restaurant and the other a popular local charity shop. The building benefits from planning for additional development and measures approximately 4,940 sqft and produced a rent of £140,920 pa.
Following a short period of targeted marketing where several bids were received, we were able to agree terms with a private purchaser, who subsequently completed the purchase without the need for funding.
North London is an area that RIB’s team understands very well, and we were able to build a target list of investors to approach very quickly & easily.