2 bedroom mixed use for sale

156 Stoke Newington Church Street, London, N16

Offers in Region of £850,000
1,439 sq. ft.

Property Description

Commercial information

  • 1,439 sq ft (133 sq m)
  • Use class orders: A5 Hot Food Take away

Key features

  • Single Let Until 2035
  • Rent Reveiw Due 2020
  • Highly Reversionary (ERV 40000, Current Rent 19,500)
  • Popular Retail Street
  • A5 Use Retail
  • Two Bed Flat Above

Full description

Tenure: Freehold

LOCATION

The premises are located in the heart of Stoke Newington Church Street, which is now a highly desirable retail location with a number of both national and local boutique occupiers in the immediate vicinity.

Stoke Newington Church Street is a busy road connecting the High Street (A10) with Green Lane (A105). Both Stoke Newington and Rectory Road stations (London Overground) are within walking distance.

DESCRIPTION

Comprises a prominent end of parade corner retail unit with a two-bedroom apartment above.

The retail unit is over the ground floor and basement and currently trades as a long established pizza takeaway (Use Class A5). The ground is arranged as the main front servery and waiting/collection area plus preparation and kitchen area to the rear., whilst the basement provides a number of storage rooms and a staff w.c..

The residential accommodation is over the first and second floors and comprises reception room plus galley kitchen and bathroom on the first, with two double bedrooms on the second floor. Accessed via a separate doorway to the side of the property.

ACCOMODATION

The approximate net internal floor areas of the retail unit are :

Ground Floor : 485 sq ft (45.1 sqm)
Basement : 325 sq ft (30.2 sqm)

Overall area of the residential accommodation is approximately 629 sq ft (58.4 sqm).

TENANCY

The entire property is let by way of a lease from 15th November 2010 for a term of 25 years, expiring in November 2035, with no break options. The lease is on tenant's full repairing terms for the building, inside the Landlord & Tenant Act 1954.

Current rent is £19,500 per annum. Upward only reviews every five years with the next review due November 2020, although we understand from our client that the 2015 review was not undertaken.

Subletting of the individual parts is permitted and the tenant as separately let the residential unit by way of an AST.

ESTIMATED RENTAL VALUE

It is our opinion based on evidence in the locality that the current ERV is in the region of £40,000 per annum. All parties must rely on their own investigations into the potential current market rent.

PROPOSAL

Freehold for sale subject to the existing tenancy. Offers in the region of £850,000.


More information from this agent

Nearest stations

  • Stoke Newington (0.4 mi)
  • Rectory Road (0.6 mi)
  • Manor House (0.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Field & Sons, London

54 Borough High Street, London, SE1 1XL

020 3858 3162 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.

Floorplans


To view this property or request more details, contact:

Field & Sons, London

54 Borough High Street, London, SE1 1XL

020 3858 3162 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

  • Stoke Newington (0.4 mi)
  • Rectory Road (0.6 mi)
  • Manor House (0.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Field & Sons, London

54 Borough High Street, London, SE1 1XL

020 3858 3162 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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