239 upper street for sale AWS
239 UPPER STREET I S L I N G T O N L O N D O N N 1 1 R U F R E E H O L D W I L L I A M H I L L I N V E S T M E N T
FOR SALE
1
S U M M A R Y
Freehold investment opportunity Attractive period property Well located in the heart of Islington and close to Highbury & Islington Station Residential upper parts sold off Large ground floor retail unit of approx. 1,170 sq.ft. Let to William Hill Organization Limited for a term of 10 years from 18th August 2014. Passing rent of £49,500 per annum exclusive We are seeking unconditional offers in excess of £950,000 exclusive and subject to contract. At this level the purchase price reflects a gross yield of 5.21% and a net initial yield of 4.93% based on purchaser’s costs of 5.69%.
2
L O C A T I O N The property is located on Upper Street, the principal shopping thoroughfare within the Borough of Islington. The property is excellently situated being under 5 minutes walking distance from Highbury & Islington Station and within 20 minutes of Angel Station. The property is on a busy retail pitch with a mixture of local traders and national occupiers including KFC, Costa Coffee and Nationwide. Current developments in the area include the ‘Islington Square’ mixed use scheme. This will primarily comprise of residential units as well as some retail which should improve footfall significantly on the northern section of Upper Street.
C O M M U N I C A T I O N S
Highbury & Islington (Great Northern, Overground, Victoria) – 3 minute walk Essex Road (Great Northern) – 10 minute walk Angel Station (Northern Line) – 19 minute walk Please note: all times are approximate.
HIGHBURY & ISLINGTON STATION
239 UPPER STREET
ESSEX ROAD STATION
ANGEL STATION
3
D E S C R I P T I O N The opportunity comprises a four storey terraced period mixed use building comprising a ground floor commercial unit with self-contained residential accommodation on the first, second and third floors held on separate long leasehold titles. The ground floor retail space is currently occupied by William Hill and the unit itself benefits from an aluminium framed singled glazed shop frontage, a mixture of tiled and carpeted floor, plastered and painted walls, and suspended ceiling with mounted air-conditioning units. The main retail area benefits from male and female customer toilets. To the rear of the property there is a kitchenette and staff toilet. There is also storage space to the rear of the property. The residential upper parts comprise a flat at first floor level and a second and third floor maisonette.
A C C O M M O D A T I O N
(approx. NIA)
Floor
Size (sq ft)
Size (sq m)
Ground
1,170
108.67
ITZA
559
51.93
4
P L A N N I N G
C O N S E R V A T I O N
T I T L E
P L A N
A R E A
The property is situated in the Islington Upper Street North Conversation Area.
E N G L I S H
H E R I T A G E
The property is not listed.
5
T E N U R E
V A T
Freehold
TBC
T E N A N C Y
R A T E S
Ground Floor Shop - Rateable Value: £43,500
C O M M E R C I A L
All interested parties should make their own enquiries with the London Borough of Islington to confirm this.
P R O P O S A L We are seeking unconditional offers in excess of £950,000 exclusive and subject to contract. At this level the purchase price reflects a gross yield of 5.21% and a net initial yield of 4.93% based on purchaser’s costs of 5.69%.
R E S I D E N T I A L
First Floor Flat Term: 125 years from 1st February 2002 Rent: A peppercorn
Strictly by appointment through sole agents:
Maisonette Term: 125 years from 1st February 2002 Rent: A peppercorn
JOHN GIBLIN 020 7749 1052 [email protected]
C O M M E R C I A L Class A1/A2 of the use classes order 1987
V I E W I N G S
U S E
ELLIOT SMITH 020 7749 1047 [email protected]
E P C D (80)
Misrepresentation Act 1967: Copping Joyce Surveyors Limited for themselves, for any joint agents and for the vendors, lessors or assignors of this property whose agents they are given notice that: (i) The particulars are set out as a general guide only for the guidance of intending purchasers or lessees and do not constitute, nor constitute part of, an offer or contract (ii) All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them.(iii) No person in the employ of Copping Joyce Surveyors Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property (iv) All rentals and prices are quoted exclusive of VAT(v) All plant, machinery, equipment, services and fixtures and fittings referred to in these particulars were present at the date of publication. They have however not been tested and therefore we give no warranty as to their condition or operation. October 2016.
6
FOR SALE
1
S U M M A R Y
Freehold investment opportunity Attractive period property Well located in the heart of Islington and close to Highbury & Islington Station Residential upper parts sold off Large ground floor retail unit of approx. 1,170 sq.ft. Let to William Hill Organization Limited for a term of 10 years from 18th August 2014. Passing rent of £49,500 per annum exclusive We are seeking unconditional offers in excess of £950,000 exclusive and subject to contract. At this level the purchase price reflects a gross yield of 5.21% and a net initial yield of 4.93% based on purchaser’s costs of 5.69%.
2
L O C A T I O N The property is located on Upper Street, the principal shopping thoroughfare within the Borough of Islington. The property is excellently situated being under 5 minutes walking distance from Highbury & Islington Station and within 20 minutes of Angel Station. The property is on a busy retail pitch with a mixture of local traders and national occupiers including KFC, Costa Coffee and Nationwide. Current developments in the area include the ‘Islington Square’ mixed use scheme. This will primarily comprise of residential units as well as some retail which should improve footfall significantly on the northern section of Upper Street.
C O M M U N I C A T I O N S
Highbury & Islington (Great Northern, Overground, Victoria) – 3 minute walk Essex Road (Great Northern) – 10 minute walk Angel Station (Northern Line) – 19 minute walk Please note: all times are approximate.
HIGHBURY & ISLINGTON STATION
239 UPPER STREET
ESSEX ROAD STATION
ANGEL STATION
3
D E S C R I P T I O N The opportunity comprises a four storey terraced period mixed use building comprising a ground floor commercial unit with self-contained residential accommodation on the first, second and third floors held on separate long leasehold titles. The ground floor retail space is currently occupied by William Hill and the unit itself benefits from an aluminium framed singled glazed shop frontage, a mixture of tiled and carpeted floor, plastered and painted walls, and suspended ceiling with mounted air-conditioning units. The main retail area benefits from male and female customer toilets. To the rear of the property there is a kitchenette and staff toilet. There is also storage space to the rear of the property. The residential upper parts comprise a flat at first floor level and a second and third floor maisonette.
A C C O M M O D A T I O N
(approx. NIA)
Floor
Size (sq ft)
Size (sq m)
Ground
1,170
108.67
ITZA
559
51.93
4
P L A N N I N G
C O N S E R V A T I O N
T I T L E
P L A N
A R E A
The property is situated in the Islington Upper Street North Conversation Area.
E N G L I S H
H E R I T A G E
The property is not listed.
5
T E N U R E
V A T
Freehold
TBC
T E N A N C Y
R A T E S
Ground Floor Shop - Rateable Value: £43,500
C O M M E R C I A L
All interested parties should make their own enquiries with the London Borough of Islington to confirm this.
P R O P O S A L We are seeking unconditional offers in excess of £950,000 exclusive and subject to contract. At this level the purchase price reflects a gross yield of 5.21% and a net initial yield of 4.93% based on purchaser’s costs of 5.69%.
R E S I D E N T I A L
First Floor Flat Term: 125 years from 1st February 2002 Rent: A peppercorn
Strictly by appointment through sole agents:
Maisonette Term: 125 years from 1st February 2002 Rent: A peppercorn
JOHN GIBLIN 020 7749 1052 [email protected]
C O M M E R C I A L Class A1/A2 of the use classes order 1987
V I E W I N G S
U S E
ELLIOT SMITH 020 7749 1047 [email protected]
E P C D (80)
Misrepresentation Act 1967: Copping Joyce Surveyors Limited for themselves, for any joint agents and for the vendors, lessors or assignors of this property whose agents they are given notice that: (i) The particulars are set out as a general guide only for the guidance of intending purchasers or lessees and do not constitute, nor constitute part of, an offer or contract (ii) All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them.(iii) No person in the employ of Copping Joyce Surveyors Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property (iv) All rentals and prices are quoted exclusive of VAT(v) All plant, machinery, equipment, services and fixtures and fittings referred to in these particulars were present at the date of publication. They have however not been tested and therefore we give no warranty as to their condition or operation. October 2016.
6
