Retail for sale

286 Upper Street

Ground and lower ground retail unit situated on popular Upper Street

Well located in the heart of Islington

Situated close to the new Islington Square scheme

Bright and airy unit with excellent ceiling heights

Approximately 913 sq. ft

Long leasehold of 999 years with approx. 990 years remaining

Let to Mercer Clothing Limited for a term of 10 years from the 30th March 2010 and ending on and including, 29th March 2020

Passing rent of £47,500 per annum exclusive

Forthcoming rent review in March 2017

We are seeking unconditional offers in excess of £1,000,000 exclusive and subject to contract. At this level the purchase price reflects a net initial yield of 4.49% and a reversionary yield of 5.82% based on purchaser’s costs of 5.58%.

286 Upper street, London, N1 2TZ

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The property is located on Upper Street, the principal shopping thoroughfare within the Borough of Islington. The property is excellently situated being within walking distance of both Angel and Highbury & Islington stations. This section of Upper Street supports a vibrant mix of tenants including boutique shops, cafés, restaurants and bars. 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.
Local authority: Islington

Units & floor plans

Floor Size
ft / m
Ground
460
42.74
Lower Ground
453
42.09
Total / Avg.
913
84.82

Find out more information about this building's development and technical spec.

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Transport

National rail

Highbury & Islington, Essex Road

Tube

Highbury & Islington, Angel Station

Offers

Offers in excess of £1,000,000 exclusive and subject to contract

Further information

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Lease overview

For a term of 10 years from the 30th March 2010 and ending on and including, 29th March 2020. The lease is held inside the security of tenure provisions of the 1954 Landlord & Tenant Act.

Tenancy schedule
Floor / Demise Tenant NIA (sq ft) Rent (p.a.) Start date Expiry date Break option Next review
Ground and BasementMERCER CLOTHING L...More913£47,50029/03/201029/03/202029/03/201729/03/2017
VAT

We have been informed the property is not elected for VAT

EPC

Data room

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Property marketed by:

27 Phipp Street, London EC2A 4NP
020 7749 1041
Copping Joyce
17137 dc2bb0ab b72c 44f2 bc1b 51a3d7fb8cae John Giblin
020 7749 1041
18373 e4135da1 8f86 4c59 91db b6a6aaa28b7b Elliot Smith
020 7749 1047
Quote reference: CJ001

An excellent opportunity to purchase a reversionary retail investment on popular Upper Street, N1

£1,000,000

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. July 2016: subject to contract.