Retail property (high street) for sale
Property description & features
- Tenure: Freehold
- Freehold
- Set Across Ground & Part First Floor
- £1,200,000
- Mid-Terraced
- Rent £127,500 per annum - 10% NIY
- Scope For Future Alternative Uses (STPP)
- Within A Short Walk Of Highbury & Islington Station
- The property comprises a mid terraced retail shop with part first floor accommodation.
- The property is let to Breakin Escapes Rooms Ltd.
- Full Repairing and Insuring lease for a term of 10 years from 11th September 2020, outside the Landlord & Tenant Act.
- The current passing rent is £110,000 per annum exclusive.
- Deposit held of £25,000.
- There is a rent review on 10th September 2025.
- At review, the rent will be increased to £127,500 per annum exclusive.
- The vendor will top up the rent to the 2025 review.
- The flat set over part first and second floors has been sold off on a 999 year lease at a peppercorn rent.
- A purchase at this level reflects a Net Initial Yield of 10%, assuming purchasers costs of 6%.
- Low capital value of £259 ft2.
Location
The London Borough of Islington stands as a well-established hub for both residential and commercial activities, conveniently nestled in close proximity to Central London.
Occupying a prime location on the northern side of Holloway Road, the property boasts swift access to transportation, with Highbury & Islington underground (Piccadilly Line) and overground station, as well as Highbury Corner, all reachable within a mere 3-minute walk.
Additionally, Holloway Road underground station is conveniently situated within a 10-minute walk.
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Broadband availability and predicted speed: obtained from Ofcom on December 30, 2021
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
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Mobile phone signal availability and predicted strength
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
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Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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