14 westbourneroad islington london n7 8au AWS
F OR S ALE MIXED USE FREEHOLD INVESTMENT
14 WESTBOURNE ROAD ISLINGTON LONDON N7 8AU Mixed Use Investment comprising of Restaurant on Ground & Basement with 5 Self-Contained Flats on the Upper Floors.
FREEHOLD INVESTMENT IN BUSY LONDON SUBURB. PROPERTY MODERNISED TO CREATE 5 SELF-CONTAINED FLATS PLUS RESTAURANT ON GROUND AND BASEMENT ON A NEW FULL REPAIRING AND INSURING LEASE. SUBSTANTIAL INCOME EQUATING TO £125,800.00 PER ANNUM 19 YEAR FULL REPAIRING AND INSURING LEASE REMAINING TO THE RESTAURANT ON BASEMENT AND GROUND FLOOR.
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.
DESCRIPTION:
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.
ACCOMMODATION: Address
Present Lessee
Accommodation Gross internal area Ground Floor: 111.8m² / 1203 ft² Basement: 104.97m²
Lease Terms
Current Rent
24 years FRI lease 1/11/2011 with upward only rent 4years review
£27,000 pax
One Year Assured Shorthold Tenancy (AST) Contract end date: 30/03/2017 One Year Assured Shorthold Tenancy (AST) Contract end date: 11/04/2017 One Year Assured Shorthold Tenancy (AST) Contract end date: Nov 2017 One Year Assured Shorthold Tenancy. AST Contract End Date: Nov 2018
£15,600pa (£1, 300 pcm)
One Year Assured Shorthold Tenancy Contract end date: 30/01/2017
£23,400.00 (£1,950pcm)
Ground Floor and basement 14 Westbourne Road, Islington, London, N7 8AU Flat 1
Mr Tanbir Ali t/a Memsaab (Fine Dining Indian)
Ana Perez/Joe
1 bedroom flat. 1st floor: 36.77m²/ 395.89 ft²
Flat 2
Dimitrios
Flat 3
Stephanie/ Patrick
1 bed flat 1st floor Separate Kitchen Separate Lounge 50.84m²/547.23 ft² 1 bed flat 2nd floor 36.78 m²/395.89ft²
Flat 4
Name to follow
Flat 5
Patrick Ingiliz / Maud Lemoine
1 bed flat 2nd floor 57.84m² / 622.58 ft²
2 bed flat 3rd floor 74.73m² / 804.38 ft²
Total
£20,400.00 (£1,700 pcm)
£18,600.00 £1,550pcm)
£20,800.00 (£1,733.34)
£125,800.00
Next Rent Review/ Reversion LL notice serve at £35,000. 19 years unexpired term remaining.
RATES: G/F Restaurant
COUNCIL TAX:
Billing Authority London Borough of Islington 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)
.
CURRENT RENT RESERVE:
£125, 800 per annum.
PRICE:
We are instructed to seek offers in excess of £2,600,000 subject to contract and existing tenancies as above, for the freehold interest in the property. A purchase at this level would reflect a net interest yield of 4.53 % allowing for purchaser costs at 6.8% and a gross yield of 4.84%.
VAT:
The property is not elected for VAT.
EPC:
Restaurant Ground Floor: Flat 1: Flat 2: Flat 3: Flat 4: Flat 5:
TENURE:
Freehold
LEGAL COSTS:
Each party to bear their own legal costs incurred in this transaction, subject to the prospective purchaser solicitors undertaking to pay the landlord’s abortive costs if the prospective purchaser withdraw from the transaction.
VIEWING:
Strictly by appointment through the sole agent:
Rating: To follow Rating C (77) Rating D (67) Rating C (78) Rating C (76) Rating: To follow
DOBBIN & SULLIVAN AJAY TOHANI TEL: 020 8221 9610 e-mail: [email protected] If you wish to view further properties on our register please visit our website www.dobbinandsullivan.com
14 WESTBOURNE ROAD ISLINGTON LONDON N7 8AU Mixed Use Investment comprising of Restaurant on Ground & Basement with 5 Self-Contained Flats on the Upper Floors.
FREEHOLD INVESTMENT IN BUSY LONDON SUBURB. PROPERTY MODERNISED TO CREATE 5 SELF-CONTAINED FLATS PLUS RESTAURANT ON GROUND AND BASEMENT ON A NEW FULL REPAIRING AND INSURING LEASE. SUBSTANTIAL INCOME EQUATING TO £125,800.00 PER ANNUM 19 YEAR FULL REPAIRING AND INSURING LEASE REMAINING TO THE RESTAURANT ON BASEMENT AND GROUND FLOOR.
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.
DESCRIPTION:
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.
ACCOMMODATION: Address
Present Lessee
Accommodation Gross internal area Ground Floor: 111.8m² / 1203 ft² Basement: 104.97m²
Lease Terms
Current Rent
24 years FRI lease 1/11/2011 with upward only rent 4years review
£27,000 pax
One Year Assured Shorthold Tenancy (AST) Contract end date: 30/03/2017 One Year Assured Shorthold Tenancy (AST) Contract end date: 11/04/2017 One Year Assured Shorthold Tenancy (AST) Contract end date: Nov 2017 One Year Assured Shorthold Tenancy. AST Contract End Date: Nov 2018
£15,600pa (£1, 300 pcm)
One Year Assured Shorthold Tenancy Contract end date: 30/01/2017
£23,400.00 (£1,950pcm)
Ground Floor and basement 14 Westbourne Road, Islington, London, N7 8AU Flat 1
Mr Tanbir Ali t/a Memsaab (Fine Dining Indian)
Ana Perez/Joe
1 bedroom flat. 1st floor: 36.77m²/ 395.89 ft²
Flat 2
Dimitrios
Flat 3
Stephanie/ Patrick
1 bed flat 1st floor Separate Kitchen Separate Lounge 50.84m²/547.23 ft² 1 bed flat 2nd floor 36.78 m²/395.89ft²
Flat 4
Name to follow
Flat 5
Patrick Ingiliz / Maud Lemoine
1 bed flat 2nd floor 57.84m² / 622.58 ft²
2 bed flat 3rd floor 74.73m² / 804.38 ft²
Total
£20,400.00 (£1,700 pcm)
£18,600.00 £1,550pcm)
£20,800.00 (£1,733.34)
£125,800.00
Next Rent Review/ Reversion LL notice serve at £35,000. 19 years unexpired term remaining.
RATES: G/F Restaurant
COUNCIL TAX:
Billing Authority London Borough of Islington 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)
.
CURRENT RENT RESERVE:
£125, 800 per annum.
PRICE:
We are instructed to seek offers in excess of £2,600,000 subject to contract and existing tenancies as above, for the freehold interest in the property. A purchase at this level would reflect a net interest yield of 4.53 % allowing for purchaser costs at 6.8% and a gross yield of 4.84%.
VAT:
The property is not elected for VAT.
EPC:
Restaurant Ground Floor: Flat 1: Flat 2: Flat 3: Flat 4: Flat 5:
TENURE:
Freehold
LEGAL COSTS:
Each party to bear their own legal costs incurred in this transaction, subject to the prospective purchaser solicitors undertaking to pay the landlord’s abortive costs if the prospective purchaser withdraw from the transaction.
VIEWING:
Strictly by appointment through the sole agent:
Rating: To follow Rating C (77) Rating D (67) Rating C (78) Rating C (76) Rating: To follow
DOBBIN & SULLIVAN AJAY TOHANI TEL: 020 8221 9610 e-mail: [email protected] If you wish to view further properties on our register please visit our website www.dobbinandsullivan.com
