Key PointsFreeholdSet Across Ground & Part First Floor£1,200,000Mid-TerracedRent £127,500 per annum - 10% NIYScope For Future Alternative Uses (STPP)Within A Short Walk Of Highbury & Islington StationSummaryFreehold Income Producing Retail InvestmentDescription- The property comprises a mid terraced retail shop with part first floor accommodation.
- The property is let to Breakin Escapes Rooms Ltd.
- Full Repairing and Insuring lease for a term of 10 years from 11th September 2020, outside the Landlord & Tenant Act.
- The current passing rent is £110,000 per annum exclusive.
- Deposit held of £25,000.
- There is a rent review on 10th September 2025.
- At review, the rent will be increased to £127,500 per annum exclusive.
- The vendor will top up the rent to the 2025 review.
- The flat set over part first and second floors has been sold off on a 999 year lease at a peppercorn rent.
- A purchase at this level reflects a Net Initial Yield of 10%, assuming purchasers costs of 6%.
- Low capital value of £259 ft2.LocationThe London Borough of Islington stands as a well-established hub for both residential and commercial activities, conveniently nestled in close proximity to Central London.
Occupying a prime location on the northern side of Holloway Road, the property boasts swift access to transportation, with Highbury & Islington underground (Piccadilly Line) and overground station, as well as Highbury Corner, all reachable within a mere 3-minute walk.
Additionally, Holloway Road underground station is conveniently situated within a 10-minute walk.Availability_textThe accommodation comprises the following areas:
