Restaurant for sale

Wakley Street, Finsbury, EC1V

Under Offer £645,000
1,211 sq. ft.

Property Description

Commercial information

  • 1,211 sq ft (112 sq m)

Key features

  • Modern building constructed in 2005 approx.
  • Providing restaurant on the ground floor, basement studio office and six residential flats above.
  • Close to Angel Underground Station (Northern Line)
  • Outside the congestion zone
  • EPC Rating - E

Full description

Tenure: Freehold

FREEHOLD INVESTMENT FOR SALE. Comprises a modern building constructed in approximately 2005. The building provides ground floor licenced restaurant premises with a basement studio office and six residential flats above.

The ground floor has a full height shopfront and currently trades as a licenced restaurant. The space is regular in shape and arranged as attractive seating area at the front with counter and bar area at the back. There is a kitchen preparation area to the rear with two WCs, storage space and a fire exit.

The licenced restaurant premises are let to Joe and Koko’s Rice Company Ltd for a term of 15 years with approx. 11 years remaining in January 2017. The lease is subject to 5 yearly upwards only rent reviews with the next rent review due in January 2018. The passing rental is £27,500 per annum exclusive.

The basement is subject to a 5 year lease from April 2016 and let to a photographer at £8,000 per annum rising by £400 per annum to £9,600 per annum in year 5.

The six flats have been sold off on long leases and total ground rents receivable are £1,650 per annum which is reviewed every 25 years.


More information from this agent

Nearest stations

  • Angel (0.2 mi)
  • Farringdon (0.7 mi)
  • Old Street (0.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Currell Islington, Commercial properties

309 Upper Street, London N1 2TU

020 8012 1513 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Angel (0.2 mi)
  • Farringdon (0.7 mi)
  • Old Street (0.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Currell Islington, Commercial properties

309 Upper Street, London N1 2TU

020 8012 1513 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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