freehold investment for sale
FREEHOLD INVESTMENT FOR SALE 9-10 WAKLEY STREET LONDON EC1V 7LT
Location The property is situated on Wakley Street, midway between its junctions with City Road and Goswell Road and close to Angel, Islington. The immediate area is mainly office and retail use and City and Islington College is nearby. It is therefore in a good catchment location for trade. Angel Underground Station is a few hundred yards from the subject property and numerous bus routes run along City Road and Goswell Road. The building is outside the Congestion Zone and there is parking for deliveries, visitors etc directly outside. Description Comprises a modern building constructed in approximately 2005. The building provides ground floor licenced restaurant premises with a basement studio office and six residential flats above. The ground floor has a full height shopfront and currently trades as a licenced restaurant. The space is regular in shape and arranged as attractive seating area at the front with counter and bar area at the back. There is a kitchen preparation area to the rear with two WCs, storage space and a fire exit. The licenced restaurant premises are let BAMI for a term of 15 years with approx. 11 years remaining in January 2017. The lease is subject to 5 yearly upwards only rent reviews with the next rent review due in January 2018. The passing rental is £27,500 per annum exclusive. The basement is subject to a 5 year lease from April 2016 and let to a photographer at £8,000 per annum rising by £400 per annum to £9,600 per annum in year 5. The six flats have been sold off on long leases and total ground rents receivable are £1,650 per annum which is reviewed every 25 years. Accommodation (all measurements are approximate) We understand the ground floor café is approximately 761 sq. ft. (70.7 sq. m). The basement space is approximately 450 sq. ft. (41.8 sq. m). Tenure Freehold subject to the existing tenancies with a total income of £37,150 per annum rising to £38,750 per annum. There is also the potential management additional income which is currently approx. £1,750 per annum. Sale Price £675,000 for the freehold interest, subject to contract and exclusive of VAT. 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
Legal Costs Each party to be responsible for their own legal costs. Viewing Strictly by appointment through agents: Currell Commercial Ltd 020 7354 5050 Beverley Hedge [email protected] Jon Morell [email protected] Chris Owen [email protected] File Ref: S1242d 2016
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 property is situated on Wakley Street, midway between its junctions with City Road and Goswell Road and close to Angel, Islington. The immediate area is mainly office and retail use and City and Islington College is nearby. It is therefore in a good catchment location for trade. Angel Underground Station is a few hundred yards from the subject property and numerous bus routes run along City Road and Goswell Road. The building is outside the Congestion Zone and there is parking for deliveries, visitors etc directly outside. Description Comprises a modern building constructed in approximately 2005. The building provides ground floor licenced restaurant premises with a basement studio office and six residential flats above. The ground floor has a full height shopfront and currently trades as a licenced restaurant. The space is regular in shape and arranged as attractive seating area at the front with counter and bar area at the back. There is a kitchen preparation area to the rear with two WCs, storage space and a fire exit. The licenced restaurant premises are let BAMI for a term of 15 years with approx. 11 years remaining in January 2017. The lease is subject to 5 yearly upwards only rent reviews with the next rent review due in January 2018. The passing rental is £27,500 per annum exclusive. The basement is subject to a 5 year lease from April 2016 and let to a photographer at £8,000 per annum rising by £400 per annum to £9,600 per annum in year 5. The six flats have been sold off on long leases and total ground rents receivable are £1,650 per annum which is reviewed every 25 years. Accommodation (all measurements are approximate) We understand the ground floor café is approximately 761 sq. ft. (70.7 sq. m). The basement space is approximately 450 sq. ft. (41.8 sq. m). Tenure Freehold subject to the existing tenancies with a total income of £37,150 per annum rising to £38,750 per annum. There is also the potential management additional income which is currently approx. £1,750 per annum. Sale Price £675,000 for the freehold interest, subject to contract and exclusive of VAT. 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
Legal Costs Each party to be responsible for their own legal costs. Viewing Strictly by appointment through agents: Currell Commercial Ltd 020 7354 5050 Beverley Hedge [email protected] Jon Morell [email protected] Chris Owen [email protected] File Ref: S1242d 2016
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
