£1,000,000 (offers in excess of)
|Size (NIA)||913 sq ft
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
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 £56,000 per annum exclusive
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 5.3% based on purchaser’s costs of 5.58%.
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
* All sizes NIA
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Highbury & Islington, Essex Road
Highbury & Islington, Angel Station
Offers in excess of £1,000,000 exclusive and subject to contract
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.
|Floor / Demise
||NIA (sq ft)
|Ground and Basement||MERCER CLOTHING L...More||913||£47,500||29/03/2010||29/03/2020||29/03/2017||29/03/2017|
We have been informed the property is not elected for VAT
An excellent opportunity to purchase a reversionary retail investment on popular Upper Street, N1
£1,000,000 (offers in excess of)
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. Subject to Contract. October 2017.