202-208 Regents Park Rd 3,772 SF Retail Building London N3 3HP $3,076,923 ($815.73/SF) 5.22% Cap Rate

We are seeking offers in the order of £2,250,000 for the convenience store which represents 5.22% NIY. The HMO is also potentially available subject to separate negotiations.
Tenure: Freehold (MX471426). The convenience store investment will be sold at a 999 year lease at a peppercorn rent.
Description
The property has been converted from an E-class unit to provide a convenience store at ground floor level, with ancillary space and two HMO flats with a total of 10 lettable rooms above. Planning consent for the conversion was granted by Barnet Council under reference 24/1644/FUL on 16 October 2024. The works have been completed and Tesco opened the store on 21st August 2025.
Internally, the first floor provides ancillary space for the convenience store. In addition, there is residential accommodation comprising a four-bedroom HMO, each with ensuite facilities, and an open-plan kitchen and living room. Two terraces serve the flats at the rear of the property.
The second floor contains a six-bedroom HMO, also with ensuite facilities and an open-plan kitchen and living room. Please note that the HMO accommodation as described above is not included in the sale, but could be included under separate negotiation.
Tenancy
The ground floor and part of the first floor of the property is let to Tesco Stores Limited for a term of 15 years (no breaks).
The rent passing is £125,000 per annum exclusive. Rent is subject to CPI linked upward only rent reviews at the fifth and tenth anniversaries of the lease with a collar and cap of 1-3% compounded annually.
Finchley is a popular suburban district in North London within the Borough of Barnet. The property, a Tesco Express, occupies a prominent position on Regents Park Road, a busy arterial route lined with a mix of retail, residential, and leisure uses.