• A prime residential development opportunity with planning permission for reconfiguration and redevelopment in the heart of Islington.
• The property is conveniently located just 0.1 miles from Angel Station (Northern line), offering residents the best of city living, with trendy shops, entertainment, and cultural amenities just moments away.
• The building is currently arranged as 5 well-appointed apartments which are in need of refurbishment totalling 3,455 sq.ft NIA.
• Planning permission has been granted by Islington Council (REF: P2021/3069/FUL) for a two-storey rooftop extension. This extension will create two further apartments.
• The proposed development will consist of a well-balanced mix of 2 x studios and 5 x 2 beds with an NIA of 4,776 sq ft.
• The existing apartments are fully let on ASTs, producing a total of £93,300 per annum.
• CIL and Section 106 payments £173,370.
• Freehold.
We are instructed to seek offers in excess of £2,850,000 (Two Million Eight Hundred and Fifty Thousand Pounds.) subject to contract.
