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Freehold Investment – Winston House, 2 Dollis Park, London
£26,500,000
Details
Description
The property comprises a detached 1960s building arranged over lower ground, ground and six upper floors, providing a hotel, multi-let offices, 5 x self contained flats, four retail units and a restaurant. The top two floors were constructed in 2015. The footprint of the building is an ‘L’ shape and is of concrete frame construction with part stone cladding and part glazed elevation. Windows throughout are double glazed.
There are approximately 80 car parking spaces accessed via an underground car park on Dollis Park, leading on to open parking at ground floor level.
The offices comprises multi-let accommodation let to a mix of local charities and well established professionals. Accessed via a manned reception served by 2 x passenger lifts, with shared WCs on 1st and 3rd floors, a number of the occupiers have their own WCs and kitchenette facilities. The specification of each office generally includes suspended ceilings, LG7 lighting, comfort cooling and heating, ranging in sizes between 400-6,300 sqft.
The retail units and restaurant are fitted out in line with tenants branding, all having prominent frontage on Regents Park Road.
The Travelodge hotel is located on floors 4-6, accessible via a separate self contained entrance on Dollis Park. The floors are of equal layout accommodating a total of 128 bedrooms. There is a restaurant and a bar which is located on the 6th floor, offering 35-40 covers.
The residential flats consist of 4 x 2 bedroom flats and 1 x studio/ flat, which are located on the 2nd floor, and are let on ASTs.
Location
Finchley is a popular and well established North London suburb located approximately 8 miles north of Central London, in the London Borough of Barnet. Finchley lies adjacent to the North Circular Road (A406) and close to the M1 Motorway.
The property benefits from excellent transport links with Finchley Central Underground Station being some 500 meters to the north providing direct access to King’s Cross, St. Pancras, Tottenham Court Road and Moorgate. From King’s Cross, St. Pancras there is easy access to Eurostar, East Midlands Railway, Southeastern, Thameslink services. Tottenham Court Road benefits from the Central Line and the new Elizabeth Line.
Viewings
For further information, please contact Sole Agents, ROBERT IRVING BURNS.
Features
- The property is located in Finchley Central, an established North London suburb located in the London Borough of Barnet
- Finchley Central Underground Station is within 2 minutes walking distance providing Northern Line services
- The property is mixed use comprising retail, restaurant, offices, a hotel and five residential apartments
- Travelodge London Finchley is a 128-bedroom hotel with a TripAdvisor score of 4 out of 5 – Very Good
- Categorised as ‘A’ strategically important in the 2020 Travelodge CVA where the vendor received full rent throughout the Covid pandemic
- 39% of the income let to Travelodge with an unexpired lease term of 18 years at £703,089 pa equating £5,492 per room. Uncapped RPI reviews with the next review October 2026. Total current income is £1,796,501 pa
- Car parking for approximately 80 cars
- Total floor area 90,175 sqft (8,377.5 sqm)
Materials
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