Asset class: Leisure
Size: 40,000 sq.ft.
Site Area: 2.16 acres
Income per annum: £280,000
Capital value: £537 per sq.ft.
Purchase price: £21.5m
This freehold site located in the town centre of London suburb Wood Green is home to a Mecca Bingo, which holds the lease on the entirety of the site until September 2026.
A three-minute walk from the London Underground station, Wood Green offers excellent transport links with connections to central London including Holborn and Piccadilly Circus, and the national and international rail hubs of King’s Cross and St Pancras. The site has been identified as an Opportunity Site for Regeneration in the London Borough of Haringey’s Site Allocations (2017).
The building was constructed in the 1980s, benefitting from a large car park to the side and rear with vehicle access from Lordship Lane to the north and Wellesley Road to the south west.