Summary
| Property Type | E (Commercial / Business / Service) |
| Tenure | For Sale |
| Size | 3,759 sq ft |
| Price | £1,650,000 |
| Rates Payable | Upon Enquiry |
- Exceptionally rare unmodernized buildings.
- Double retail unit with broad road frontage.
- Significant potential for Residential conversion (STPP).
- Full Vacant possession on completion.
- Attractive Capital value of £439/sqft.
About
A striking and extremely well positioned building offering in excess of 3,750 sq ft of floorspace, prime for conversion to residential usage (subject to obtaining the necessary consents). The ground floor offers a double-fronted retail unit occupying 890 sq ft with significant ceiling heights north of 3.5m, we would expect the commercial element of the property to achieve in the region of £35,000 per annum. This has previously been used as a health food shop and café with a kitchenette at the rear.
The upper floors are currently laid out as a number of therapy rooms occupied on an ad hoc basis, they lend themselves extremely well to residential conversion (subject to obtaining the necessary consents). Given current market sentiment, we have been advised that a completed and renovated residential unit in the immediate surrounds should achieve in the region of £900-£950/sq ft.
There may be potential, under a certificate of lawful use, to secure additional residential floorspace in the basement level of the premises, further details upon request.
Location
This building occupies an exceptional double frontage on one of the most prominent parades across Highbury & Islington, which is reinforced by the quality of the nearby occupiers including Trullo, Prawn on the Lawn, Sainsburys Local and Yield N1. There is a strong local community with a notable belief in supporting the local community where possible, for this reason there are several highly successful occupiers who may have not seen such fortune in other areas of the capital. Transport Links are abundant with the Victoria Line and Overground accessible within a couple of minutes from Highbury & Islington Tube and numerous bus routes leading directly to the City.
Mainline Stations
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Highbury and Islington2 mins
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Canonbury8 mins
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Essex Road8 mins
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Drayton Park9 mins
Underground Station
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Highbury and Islington3 mins
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Canonbury7 mins
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Essex Road9 mins
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Drayton Park10 mins
Further Information
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Terms
Guide Price: £1,650,000 subject to contract.
Rateable Value: 1st & 2nd Floors - £23,500. Ground & Part Basement - £36,750
EPC RATING: Upon enquiry.
USE CLASS: Use Class E.
LOCAL AUTHORITY: London Borough of Islington.
POSSESSION: Full vacant possession upon completion of legal formalities.
VAT STATUS: To be confirmed.
LEGAL COSTS: Each party is to bear their own legal costs.
VIEWINGS: Strictly through the sole selling agents Winkworth Development & Commercial Investment and made by prior appointment.
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