rare opportunity to acquire
RARE OPPORTUNITY TO ACQUIRE RESTAURANT IN PRIME ISLINGTON LOCATED ON UPPER STREET 330 UPPER STREET, ISLINGTON, LONDON, N1 2XQ 2,008 SQ. FT (186.54 SQ. M) APPROX.
LOCATION The property is situated on the Eastern side of Upper Street close to Islington Green and close to the Business Design Centre. Upper Street is the main commercial thoroughfare in Islington and the property is surrounded by a variety of different users, the majority being a mixture of retail premises, pubs and restaurants.
ACCOMMODATION The net internal area of the premises is approximately as follows: FLOOR
SQ. FT
SQ. M
Ground Floor
407
37.83
Basement
280
26.01
1st Floor
473
43.92
2nd Floor
393
36.54
Angel Underground Station is approximately ¼ of a mile to the south and Highbury & Islington is approximately ¾ of a mile to the north. Regular bus routes service the area.
3rd Floor
455
42.24
TOTAL
2,008
186.54
DESCRIPTION The premises consist of a character terraced 4 storey building plus a basement which have been completely refurbished to a high standard. The newly fitted kitchen is in the basement with the extraction venting at the roof level. The ground floor benefits from wood floors, attractive lighting, part fitted bar, and high ceilings. The 1st floor also has a bar and is more for private dining and a dumb waiter runs from the basement to the 1st floor. There is space for approximately 60 covers across the ground and 1st floors.
BUSINESS RATES We understand the current rateable value of the property as quoted on the VOA is £54,000. All interested parties are advised to confirm the current rates payable with the local authority.
The 2nd and 3rd floors are currently used for storage, staff welfare and offices and could be let as offices as there is a separate entrance to the upper floors. The rental income achievable could be in the region of £30,000 per annum exclusive.
LEGAL COSTS Each party to bear their own legal costs in this transaction.
Local occupiers include Screen on the Green (opposite), Fox on the Green pub, Masala Zone, Dirty Martini, Rodicio Rico, Currell Residential, Sainsbury’s and many other assorted retailers, restaurants, banks etc.
There is also a rear yard area by the side of the kitchen.
SERVICE CHARGE To be advised. EPC Energy Performance Asset Rating - E
VIEWING Strictly by appointment with sole agents: Currell Commercial Ltd.
RENTAL The passing rental is £78,000 per annum exclusive of business rates, insurance and VAT if applicable.
Jon Morell DDI – 020 7704 3765 [email protected]
PREMIUM There will be a premium in the region of £155,000 for the benefit of the lease, fixtures and fittings.
Will Beresford DDI – 020 7704 3760 [email protected]
TERMS This is an assignment of a renewable fully repairing and insuring lease from 20th April 2015 and due to expire on 10th August 2029. The lease is inside the security of the Landlord and Tenant Act 1954 and subject to 5 yearly rent reviews, the next being due on 20th August 2019.
Beverley Hedge DDI – 020 7704 7514 [email protected] Ref: COM160220 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 property is situated on the Eastern side of Upper Street close to Islington Green and close to the Business Design Centre. Upper Street is the main commercial thoroughfare in Islington and the property is surrounded by a variety of different users, the majority being a mixture of retail premises, pubs and restaurants.
ACCOMMODATION The net internal area of the premises is approximately as follows: FLOOR
SQ. FT
SQ. M
Ground Floor
407
37.83
Basement
280
26.01
1st Floor
473
43.92
2nd Floor
393
36.54
Angel Underground Station is approximately ¼ of a mile to the south and Highbury & Islington is approximately ¾ of a mile to the north. Regular bus routes service the area.
3rd Floor
455
42.24
TOTAL
2,008
186.54
DESCRIPTION The premises consist of a character terraced 4 storey building plus a basement which have been completely refurbished to a high standard. The newly fitted kitchen is in the basement with the extraction venting at the roof level. The ground floor benefits from wood floors, attractive lighting, part fitted bar, and high ceilings. The 1st floor also has a bar and is more for private dining and a dumb waiter runs from the basement to the 1st floor. There is space for approximately 60 covers across the ground and 1st floors.
BUSINESS RATES We understand the current rateable value of the property as quoted on the VOA is £54,000. All interested parties are advised to confirm the current rates payable with the local authority.
The 2nd and 3rd floors are currently used for storage, staff welfare and offices and could be let as offices as there is a separate entrance to the upper floors. The rental income achievable could be in the region of £30,000 per annum exclusive.
LEGAL COSTS Each party to bear their own legal costs in this transaction.
Local occupiers include Screen on the Green (opposite), Fox on the Green pub, Masala Zone, Dirty Martini, Rodicio Rico, Currell Residential, Sainsbury’s and many other assorted retailers, restaurants, banks etc.
There is also a rear yard area by the side of the kitchen.
SERVICE CHARGE To be advised. EPC Energy Performance Asset Rating - E
VIEWING Strictly by appointment with sole agents: Currell Commercial Ltd.
RENTAL The passing rental is £78,000 per annum exclusive of business rates, insurance and VAT if applicable.
Jon Morell DDI – 020 7704 3765 [email protected]
PREMIUM There will be a premium in the region of £155,000 for the benefit of the lease, fixtures and fittings.
Will Beresford DDI – 020 7704 3760 [email protected]
TERMS This is an assignment of a renewable fully repairing and insuring lease from 20th April 2015 and due to expire on 10th August 2029. The lease is inside the security of the Landlord and Tenant Act 1954 and subject to 5 yearly rent reviews, the next being due on 20th August 2019.
Beverley Hedge DDI – 020 7704 7514 [email protected] Ref: COM160220 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
