ADDRESS47 Islington Park Street, Islington, London, N1 1QB
TYPEOffices, Leisure, Office, Residential, Flat
TENUREDevelopment Opportunity, Investment Opportunity, For Sale Leasehold
POSTED ON12th July 2021
Freeholder's consent granted for conversion to residential. Long Leasehold with 465 years unexpired.
The property comprises ground and first floor offices with gross internal area of c. 95.95 sq.m (1,033 sq.ft) and a single car parking space.
The property is held on a Long Lease dated 11th August 1987 for a term of 500 years from 29 September 1986, at a peppercorn ground rent.
Our client has already obtained consent from the freeholder for residential use. The property is outside the areas affected by Islington's Article 4 Directive and subject to satisfying the qualifying criteria therefore benefits from permitted development rights to be converted to residential.
Location: The property is located at the eastern end of Islington Park Street c.30 metres west of Islington's fashionable Upper Street. The area provides an abundance of leisure, shopping & entertainment facilities, in addition to the numerous bars, restaurants & art galleries, which all generate trade from the affluent local community and beyond.
The location has superb travel and communication links. Highbury & Islington Station (Victoria, Overground and Great Northern Lines) is circa 300m north of the property. Angel London Underground Station (Northern Line) is circa 1.2km to the south.
There are numerous bus services running along Upper Street, which connect directly to both the West End and City.
Features: - Long leasehold (500 years from 1986) with vacant possesion - Situated in one of the most desirable parts of North London - Superb location just 30m from Upper Street - Suitable for conversion to residential (freeholder's consent has been obtained) - Excellent transport communications - Highbury & Islington Station: c.300m - Angel Station: c.1.2km