Location On Map
PRIME CORNER RESTAURANT & RESIDENTIAL BUILDING FREEHOLD INVESTMENT FOR SALE
The property is situated in a prominent location on the corner of Kingsland Road and Dalston Lane immediately adjacent to the new Dalston Junction London Overground Station. The immediate area has undergone a major development of newly constructed residential and commercial buildings. In addition Dalston Kingsland Rail Station is within a few minutes walk. Numerous bus routes also serve the area.
The building is arranged over basement, ground and three upper floors currently arranged as a ground floor restaurant with basement kitchen. The upper floors presently comprise 17 self-contained studio flats accessed via its own entrance on Kingsland Road. Each flat comprises studio room with kitchen, separate shower room/wc. The property may also suit development, subject to receipt of Planning Permission.
AREAS (all measurements are approximate):
Ground Floor Restaurant: 1,222 Sq Ft ( 113.60 Sq M )
Basement Kitchen & Ancillary: 1,435 Sq Ft ( 133.33 Sq M )
Residential: 3,552 Sq Ft ( 330 Sq M )
Total Area: 6,209 Sq Ft ( 576.93 Sq M )
Ground Floor Restaurant & Basement:
Let on a Full Repairing and insuring lease for a term of 20 years from October 2000, subject to 4 yearly rent reviews at a current rental of £75,000 per annum exclusive. The Tenants are currently negotiating a new lease with the Landlords. Further details upon request.
The flats are all currently let on Assured Shorthold tenancy agreements and produce an income of £179,625.36 per annum exclusive.
There are currently 4 vacant Studio Flats that are undergoing refurbishment which has a proposed income of £55,527.48 per annum exclusive.
Actual Income: £254,625.36
Actual & Estimated Income: £310,152.84
In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.
Available upon request.
Strictly by appointment through owner’s SOLE Agents Christo & Co.
Paul Stone (020 7482 1203 / 07973 845 462 / email@example.com )
SUBJECT TO CONTRACT