Commercial property for saleKingsland Road, London
This mixed use investment, comprises a thriving restaurant premises and seventeen self-contained studio flats. The property is situated at the junction of Kingsland Road (A10) and Dalston Lane (A104) adjacent to Dalston Junction London Overground Station. The total monthly income for the building is £23,571.64. Together with a new advertising contract currently under negotiation for £96,000 per year, the total annual income for the building is potentially £378,859. Consequently the yield would stand at a very respectable 8.4%.
Total Current Income
£282,859.68 per annum.
17 Studio Flats
The property is arranged over basement, ground and three upper floors, and provides a self-contained return frontage retail unit with kitchens in the basement. The basement can be accessed from either within the retail unit or via Dalston Lane. The upper floors comprise seventeen self-contained studio flats accessed from Kingsland Road.
Accomodation and Tenancies
Grossss Frontage - 9.5m
Net Frontage - 4.00m
Gross Return Frontage - 14.40m
Net Return Frontage - 10.10m
Lease Terms: The lease has recently been renewed and details have yet to be confirmed, Current Rent - £72,000 p.a.
First, Second and Third Floor:
Seventeen Studio Flats.
Lease Terms: Currently all of the studio flats are let subject to an Assured Shorthold Tenancy.
A schedule of Accommodation and Tenancies is available upon request
Total Current Rent - £210,859.68 p.a
Studio Flats comprise: Studio Room with Integral Kitchen and Separate Shower Room with WC.
VAT is applicable to this Lot.
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