freehold for sale - Realla
FREEHOLD FOR SALE RARE OPPORTUNITY TO ACQUIRE PROMINENT RETAIL BUILDING IN THE HEART OF ISLINGTON 29 ISLINGTON HIGH, ISLINGTON, LONDON, N1 9LH 2,006 SQ. FT (186 SQ. M) APPROX.
LOCATION The building occupies a prominent position on Islington High Street and close to its junctions with Upper Street, White Lion Street and Liverpool Road. This is the main shopping area of Islington and in the heart of Angel. N1 Shopping Centre is on the doorstep and nearby occupiers include Boots, Pret A Manger, Marks & Spencer, Snappy Snaps, Sainsburys and Thomas Cook. Angel Underground Station (Northern Line) is opposite the subject premises and numerous bus routes run along Upper Street. DESCRIPTION The property comprises a mid-terraced five storey character building and provides a ground floor retail unit with storage, office and staff room on the upper parts. The ground floor provides open plan trading space with storage at the rear. The space benefits from single glazed shopfront and high ceilings. The 1st to 4th floors are accessed via a staircase at the rear of the shop and comprise a mix of office spaces with stockrooms, distribution room and storage with three WCs and a kitchen. There is no garden or outside space at the rear. ACCOMMODATION We understand that the building has the following approximate net internal area. FLOOR
SQ. FT
SQ. M
Ground Floor
998
93.0
1st Floor
425
39.0
2nd Floor
309
29.0
3rd Floor
139
13.0
4th Floor
135
12.0
2,006
186.0
TOTAL
TENANCY The whole building is let to Oxfam on a full repairing and insuring 10-year lease from 25th March 2014 and expiring on 24th March 2024. The lease is subject to a five yearly rent review which is due on 25th March 2019. The lease does not have security of tenure. The current passing rental is £55,000 per annum exclusive with the opportunity to increase the rental on review in March 2019. SALE PRICE Offers in excess of £1,150,000, subject to existing lease and contract. VAT is not payable on the purchase price. EPC To be assessed. LEGAL COSTS Both parties to bear their own legal costs. VIEWING Strictly by appointment with sole agents: Currell Commercial Ltd
Beverley Hedge DDI – 020 7704 7514 [email protected] Jon Morell DDI – 020 7096 2785 [email protected] Will Beresford DDI – 020 7096 2780 [email protected] Ref: COM170265 For more information on our properties please visit our website – www.currell.com/commercial
Important Notice: 1. These particulars are prepared for guidance purposes only. They are intended to give a fair overall description of the property but are not intended to constitute any part of an offer or contract. 2. Nothing in these particulars shall be deemed to be a statement that the property is in good structural condition or otherwise nor that any services, equipment or facilities are in good working order. 3. Whilst all information contained in these particulars whether in the text, plans or photographs is given in good faith, intending purchases must make their own enquiries as to the accuracy of all matters upon which they intend to rely. 4. Value Added Tax - All rents, premiums, prices or other financial arrangements and charges stated are exclusive of Value Added Tax. Currell Commercial Ltd. Registered in England No 3905752. Registered Office: 9 Bonhill Street, London EC2A 4DJ
LOCATION The building occupies a prominent position on Islington High Street and close to its junctions with Upper Street, White Lion Street and Liverpool Road. This is the main shopping area of Islington and in the heart of Angel. N1 Shopping Centre is on the doorstep and nearby occupiers include Boots, Pret A Manger, Marks & Spencer, Snappy Snaps, Sainsburys and Thomas Cook. Angel Underground Station (Northern Line) is opposite the subject premises and numerous bus routes run along Upper Street. DESCRIPTION The property comprises a mid-terraced five storey character building and provides a ground floor retail unit with storage, office and staff room on the upper parts. The ground floor provides open plan trading space with storage at the rear. The space benefits from single glazed shopfront and high ceilings. The 1st to 4th floors are accessed via a staircase at the rear of the shop and comprise a mix of office spaces with stockrooms, distribution room and storage with three WCs and a kitchen. There is no garden or outside space at the rear. ACCOMMODATION We understand that the building has the following approximate net internal area. FLOOR
SQ. FT
SQ. M
Ground Floor
998
93.0
1st Floor
425
39.0
2nd Floor
309
29.0
3rd Floor
139
13.0
4th Floor
135
12.0
2,006
186.0
TOTAL
TENANCY The whole building is let to Oxfam on a full repairing and insuring 10-year lease from 25th March 2014 and expiring on 24th March 2024. The lease is subject to a five yearly rent review which is due on 25th March 2019. The lease does not have security of tenure. The current passing rental is £55,000 per annum exclusive with the opportunity to increase the rental on review in March 2019. SALE PRICE Offers in excess of £1,150,000, subject to existing lease and contract. VAT is not payable on the purchase price. EPC To be assessed. LEGAL COSTS Both parties to bear their own legal costs. VIEWING Strictly by appointment with sole agents: Currell Commercial Ltd
Beverley Hedge DDI – 020 7704 7514 [email protected] Jon Morell DDI – 020 7096 2785 [email protected] Will Beresford DDI – 020 7096 2780 [email protected] Ref: COM170265 For more information on our properties please visit our website – www.currell.com/commercial
Important Notice: 1. These particulars are prepared for guidance purposes only. They are intended to give a fair overall description of the property but are not intended to constitute any part of an offer or contract. 2. Nothing in these particulars shall be deemed to be a statement that the property is in good structural condition or otherwise nor that any services, equipment or facilities are in good working order. 3. Whilst all information contained in these particulars whether in the text, plans or photographs is given in good faith, intending purchases must make their own enquiries as to the accuracy of all matters upon which they intend to rely. 4. Value Added Tax - All rents, premiums, prices or other financial arrangements and charges stated are exclusive of Value Added Tax. Currell Commercial Ltd. Registered in England No 3905752. Registered Office: 9 Bonhill Street, London EC2A 4DJ
