For Sale By Auction | 12.00, 31 July 2019 | Lot 2

386 Caledonian Road, Islington, London, N1 1DY

Sold £325,000

  • Restaurant
  • Tenure: Freehold

Call the team on 020 7625 9007 for more information

Auction Date

Wed 31/07/2019

Auction Time

12.00

Auction Venue

London Marriott Hotel Regents Park, 128 King Henry’s Road, London, NW3 3ST

A Well Located Commercial & Ground Rent Investment Producing £22,200 per annum which includes £1,500 of Annual Service Charge, Insurance & Management Income.

The property comprises a ground floor restaurant together with four self-contained flats above within a end of terrace corner building arranged over ground and three upper floors.

Tenure

Freehold

Location

The property is situated in the popular North London area of Islington amongst the local shops and amenities. The open spaces of Thornhill Square are within easy reach. Transport links are provided by Caledonian Road & Barnsbury overground station.

The freehold benefits from the right to manage and insure the building. The shop pays service charge and insurance contributions at 35% along with flats A & B paying contributions at 18.75% and flats C & D paying contributions at 13.75% each with a combined management fee of £1,500 per annum. Current Rent Reserved £27,200 per annum (inclusive of management fees)

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £900 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.