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RETAIL INVESTMENT – FREEHOLD FOR SALE IN ISLINGTON
The property is located on Hornsey Road, close to its junction with Tollington Park, on the borders of Upper Holloway and Finsbury Park. The parade comprises of mainly local retail covenants at ground floor level with upper parts largely in residential use. The shop will serve the immediate adjacent residential population together with a certain amount of passing trade. Upper Holloway (London Overground) and Finsbury Park (London Underground Piccadilly & Victoria Lines) Stations are situated equidistantly nearby, offering a frequent commuter service into Central London. Numerous bus routes serve the surrounding area.
The subject property comprises a ground floor retail unit with two self-contained, 2-bedroom flats above. The ground floor unit is used as barbers/hairdressers and the flats are individually let and in residential use.
AREAS (ALL MEASUREMENTS ARE APPROXIMATE):
Ground Floor (Commercial): 468 Sq Ft (43.50 Sq M)
First Floor (2-bedroom flat): 398 Sq Ft (37 Sq M)
Second & Third Floors (2-bedroom maisonette): 630 Sq Ft (58.50 Sq M)
Total Area: 1,496 Sq Ft (139 Sq M)
Ground Floor (Barbers/Hairdressers)
The shop is let on a Full Repairing and Insuring Lease for a term of 16 years from 5th October 2006, subject to 4 yearly rent reviews, at a current passing rent of £11,000 per annum exclusive. (2018 Rent Review has been settled.)
First Floor (2-bedroom flat)
Currently let on an Assured Shorthold Tenancy (AST) producing: £15,900 per annum.
Second & Third Floors (2-bedroom maisonette)
Currently let on an Assured Shorthold Tenancy (AST) producing £18,600 per annum.
Total Income: £45,500 per annum
£965,000, Subject to Contract, with the benefit of the existing Tenancies.
Under the Money Laundering Regulations Act 2004, we are obliged to verify the identity of proposed buyers prior to instructing solicitors in order to assist in preventing fraud and money laundering. This information is required by Law.
Under the Estate Agents Act 1979, Section 21, the Agents declare personal interest in the subject property.
Strictly by appointment through SOLE Agents as above.
SUBJECT TO CONTRACT