108 - 110 Fonthill Road, London, N4 3HT

Description
Comprises two Ground Floor shops one trading as a restaurant and the other trading as an estate agents. The upper floors comprise of 15 Self Contained studio flats arranged over the first, second & third floors accessed via its own entrance. The flats benefit from their own kitchens and bathrooms together with shared laundry room. The flats are in need of modernisation.

Location
The property is situated in a prime position on the South West side of Fonthill Road, close to the junctions of Wells Terrace and Seven Sisters Road. The area has seen major regeneration, including 308 new apartments and 120,000 Sqft of shops, restaurants, leisure, and offices delivered by Telford Homes and The Business Design Centre, the largest £130m scheme in Islington. Many well known names include M&S Supermarket, Gail's Bakery, Pret a Manger, Costa Coffee. The area is well known for the wholesaling and retail of Ladies and Men's fashion. Finsbury Park Station (Victoria, Piccadilly, and National Rail) has undergone major refurbishment and is just a few minutes’ walk away.

Tenancies & Income
108 Ground Floor Shop/Office: A proportional FRI Lease for a term of 20 years from 15th July 2021 Subject to 5 yearly Rent Reviews (Rent Review July 2027). £26,000 pax.

110 Ground Floor Restaurant: A proportional FRI Lease for a term of 15 years from 26th September 2021 Subject to 5 yearly Rent Reviews. (Rent Review September 2026). £36,000 pax.

108 - 110 Residential: The 15 Studio Flats are all individually Let on AST Agreements inclusive of electricity and water bills. £225,000 per annum.

Total Gross Income: £287,000 per annum.
Landlord pays the electricity and water bills which is approximately £30,000 per annum.

Total Net Income £257,000 per annum.

Freehold Price
£3,250,000 with the benefit of the Income

Viewing
Strictly by appointment through owner’s SOLE agents as above.