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Property Characteristics

Tenant: Bento Ramen
Use: A3 + Ancillary
Total Area (NIA): 3.196 ft2
Net Initial Yield: 3.68%
Future Plans: Obtain possession and develop flats above

Camden Snapshot

  • Trendy area, visited for its markets and nightlife (the birthplace of punk rock)
  • 4th most popular tourist attraction in the UK with footfall of 28 million per annum.
  • Area has a good mix of retail, residential and office space. Appealing to those wanting to live, work and enjoy
  • Area undergoing gentrification and increased development

Asset management Opportunities

  • Development opportunity to convert upper floors into flats
  • Reversionary rent – immediate rent review (Growth £90.000 pa to £130.000 pa)
  • Gentrification – Rental Growth prospects
  • JLL appointed to negotiate, ERV £125.000-£130.000 pa (£60 psf)
  • Negotiate new rent with tenant OR tenant leaves and Consulco develops property

Lease expiry 2023