Freehold Building Investment Large Commercial and 2 x 1 bed flats Potential To Build Up Islington N1
Description : 22 Mar, 2023
Opportunity to purchase this Freehold building spread over 4 floors in this prime location consisting of a massive commercial unit over 2 floors and 2 x 1 bed apartments in Islington's Barnsbury area N1 moments to Kings Cross.
The building has been fit out to a high standard after a recent refurbishment. The building consists of a ground floor lock up shop and basement with lovely flooring, glass frontage, small office, kitchenette and a WC. The first floor has a modern one bedroom apartment with open plan living room and kitchen, bathroom and spacious bedroom boasting large period sash windows and high ceilings. The top floor apartment has stairs leading up to the 2nd floor landing, a modern open plan kitchen and reception, bathroom, spacious bedroom and small loft area.
The property is located on Caledonian Road in the Barnsbury area, only moments from the gardens of Thornhill Square and suitably located within a few minutes walk to Caledonian Road tube station and moments to the sought after Upper Street in Angel and perfectly for access to the major transport hub at Kings Cross/ St Pancras International and not only does Kings Cross & St Pancras International provide truly phenomenal accessibility around London but it is also currently one of the biggest development sites/ regeneration areas in London, benefiting from a massive influx of investment in infrastructure and property, creating one of the most exciting and vibrant locations with a wealth of amenities. With Google, amongst others, looking to build their European & UK headquarters and Central St Martins College this really is set to be an even more desirable and sought after area.
Commercial Unit producing £24,000 PA (10 year FRI ( Full insuring and repairing lease) with no break clause and rent review in 2024 and every 5 years thereafter) - Approx 1449 Sq Ft (134.6 sq.m)
1st Floor Flat Estimated £1800 PCM (36 sq.m)
2nd Floor Flat Estimated £1800pcm (41.50 sq.m)
*Expected yield 5.84% at current rents*
*Precedence from neighboring properties to build up, subject to planning permission*
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