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For Sale£2,600,000.00

14 Westbourne Road, Islington, N7 8AU

Other, General Retail, Retail - High Street, Retail - Out of Town, Other Property Types & Opportunities, Retail , 5098.86 Sq Ft
Property type: Other, General Retail, Retail - High Street, Retail - Out of Town, Other Property Types & Opportunities, Retail
Tenure: For Sale Freehold
Size: 5098.86 Sq Ft
Price: £2,600,000.00
Location: 14 Westbourne Road, 14 Westbourne Road, Islington, N7 8AU

Mixed Use Investment comprising of Restaurant on Ground & Basement with 5 Self-Contained Flats on the Upper Floors.



Location

The property is located in a densely populated area forming part of the London Borough of Islington. The subject property lies at the junction of Westbourne Road and Bride Street. The property lies to the centre of Holloway, Barnsbury and Canonbury wards. The property is close by to Highbury and Islington Underground and national rail station (0.5 miles), Caledonian and Barnsbury London Overground Station 0.4 miles, and Caledonian Road Underground Station (Picadilly Line) 0.4 miles from the subject property. Westbourne Road also is serviced by regular bus services.



Additional Details

Energy Performance Ratings:

 

Restaurant Ground Floor:       Rating: To follow

Flat 1:                                      Rating C (77)

Flat 2:                                      Rating D (67)

Flat 3:                                       Rating C (78)

Flat 4:                                      Rating C (76)

Flat 5:                                      Rating: To follow          



A substantial attractive 4 storey end of terrace corner property, previously used as a Public House and now converted into ground floor and basement restaurant with access to self-contained 5 flats on the upper floors. The refurbishment of the property continues to attractive architectural features externally to the ground floor shop including mouldings and renewed double glazed sash windows to both elevations. A separate bin chamber is located on the ground floor. The commercial element to the property includes stores, yard, and fitted kitchen in basement with a refurbished restaurant including Male, Female and Disabled WC on the ground floors. The upper floors comprise of 5 self-contained flats on floors one to three accessed via a communal stairway with gas and electric meters located at the entrance lobby on the ground floor All of the flats have been modernized to include hardwood flooring, gch, fitted bathroom and kitchen throughout.

Address

Present Lessee

Accommodation

Gross internal area

Lease Terms

Current Rent

Next Rent Review/ Reversion

Ground Floor

and basement

14 Westbourne Road,

Islington, London,

N7 8AU

Mr Tanbir Ali

t/a Memsaab (Fine Dining Indian)

Ground Floor: 111.8m² / 1203 ft²

Basement: 104.97m²

24 years FRI lease 1/11/2011 with upward only rent 4years review

 

£27,000 pax

LL notice serve at £35,000.

19 years unexpired term remaining.

Flat 1

 

Ana Perez/Joe

1 bedroom flat.

1st floor: 36.77m²/ 395.89 ft²

One Year Assured Shorthold Tenancy (AST)

Contract end date: 30/03/2017

£15,600pa

(£1, 300 pcm)

 

 

Flat 2

Dimitrios

 

1 bed flat

1st floor

Separate Kitchen

Separate Lounge

50.84m²/547.23 ft²

One Year Assured Shorthold Tenancy

(AST)

Contract end date: 11/04/2017

£20,400.00

(£1,700 pcm)

 

 

Flat 3

Stephanie/ Patrick

1 bed flat

2nd floor

36.78 m²/395.89ft²

One Year Assured Shorthold Tenancy (AST)

Contract end date: Nov 2017

£18,600.00

£1,550pcm)

 

Flat 4

Name to follow

1 bed flat

2nd floor

57.84m² / 622.58 ft²

One Year Assured Shorthold Tenancy.

AST Contract End Date: Nov 2018 

 

£20,800.00

 

(£1,733.34)

 

Flat 5

Patrick Ingiliz / Maud Lemoine

2 bed flat

3rd floor

74.73m² / 804.38 ft²

One Year Assured Shorthold Tenancy

Contract end date: 30/01/2017

£23,400.00

(£1,950pcm)

 

 

Total

 

£125,800.00

 

 

 

 

 

 

Billing Authority London Borough of Islington G/F Restaurant Rateable Value: £18,020.00 -Rates payable: (2016/2017) - £8,712.00 per annum Flats 1-4: Council Tax Band (C) Flat 5: Council Tax Band (D)

Strictly by appointment through the sole agent.

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