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89 Holloway Road, Islington, N7 8LT

4,619 Sq Ft / Other / Investment

For Sale - £1,200,000.00

Available - Last updated: 04 July 2024

Summary

- The property comprises a mid terraced retail shop with part first floor accommodation.

- The property is let to Breakin Escapes Rooms Ltd.

- Full Repairing and Insuring lease for a term of 10 years from 11th September 2020, outside the Landlord & Tenant Act.

- The current passing rent is £110,000 per annum exclusive.

- Deposit held of £25,000.

- There is a rent review on 10th September 2025.

- At review, the rent will be increased to £127,500 per annum exclusive.

- The vendor will top up the rent to the 2025 review.

- The flat set over part first and second floors has been sold off on a 999 year lease at a peppercorn rent.

- A purchase at this level reflects a Net Initial Yield of 10%, assuming purchasers costs of 6%.

- Low capital value of £259 ft2.


Key Points

  • Freehold
  • Set Across Ground & Part First Floor
  • £1,200,000
  • Mid-Terraced
  • Rent £127,500 per annum - 10% NIY
  • Scope For Future Alternative Uses (STPP)
  • Within A Short Walk Of Highbury & Islington Station
  • Location

    The London Borough of Islington stands as a well-established hub for both residential and commercial activities, conveniently nestled in close proximity to Central London.

    Occupying a prime location on the northern side of Holloway Road, the property boasts swift access to transportation, with Highbury & Islington underground (Piccadilly Line) and overground station, as well as Highbury Corner, all reachable within a mere 3-minute walk.

    Additionally, Holloway Road underground station is conveniently situated within a 10-minute walk.

    Property Quote Price(s)

    DescriptionSale typeGuide pricePrice type
      For Sale Freehold £1,200,000.00 NA

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    Contact agents

    Cormac Sears

    Forest Real Estate

    020 3151 9095

    Casey Okin

    Forest Real Estate

    020 3369 0554

    Ethan Shine

    Forest Real Estate

    020 3369 0464



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