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60 & 62 Stoke Newington Road, Stoke Newington, London, N16 7XB
4,500 Sq Ft / Other
Withdrawn - Last updated: 25 March 2024
Summary
A particularly rare opportunity to acquire two adjoining mixed-use freehold buildings with notable income potential. With a combined GIA in excess of 4,500 sq ft, the properties offer generous proportions and could benefit from reconfiguration to the residential uppers to ensure an easily managed investment. We have been informed that the residential uppers are currently laid out as licensed HMOs producing an income in the region of £117,000.
Each of the commercial units are let on long term tenancies with Rent Reviews scheduled every 3 years from the term commencement dates. We understand the current combined income of the two commercial units to be £34,000 per annum.
Key Points
Pair of substantial Mixed-Use Buildings.Potential for Reconfiguration (STPP).Prime Stoke Newington Location.Commercial units let on long leases.Residential asset management opportunity.Location
60 & 62 Stoke Newington Road is set in the vibrant heart of Stoke Newington offering strong transport links, exceptional eateries, large green spaces and a strong community feel that is largely unmatched across the capital. The area has also seen notable redevelopment over the past decade with a number residential developments bringing a new youthfulness to the area. Connections to the City, Canary Wharf and Islington are simple with the Overground and numerous Bus Routes a moment away.Terms
Proposal: ‘Guide Price’ of £2,400,000.
EPC: Available on enquiry.
Local Authority: The London Borough of Hackney.
Legal Costs: Each Party is to be responsible for their own legal costs.
Tenure: Freehold.
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