- A reversionary mixed-use investment in North London, held within the same ownership for 30 years.
- Prominently situated on Holloway Road, located within close proximity to the London Metropolitan University and the Emirates Stadium.
- The ground floor comprises 1,820 sq ft GIA of E class space and the upper parts are arranged as 4 x 1 bed & 1 x 3 bedroom apartments totalling 2,553 sq ft GIA.
- Total GIA 4,373 sq ft.
- The commercial premises is let to Shu La La Limited on a 20 year lease from June 2011, thus having 7.83 years unexpired. The current passing rent is £36,000 per annum.
- The 5 apartments are let on Assured Shorthold Tenancy agreements producing a total rent of £127,740 per annum.
- The total income is £163,740 per annum and we have been advised that the Estimated Rental Value is in the region of £180,000 per annum.
- The building has recently been refurbished to a high standard.
- Freehold.
We are instructed to seek offers in excess of £1,750,000 (One Million Seven Hundred Fifty Thousand Pounds) subject to contract. A purchase at this level would reflect a Net Initial Yield of 8.8% assuming standard purchasers costs of 6.2%. Equating to a low capital value of £400 per sq ft.
