132-134 Essex Rd - Storefront FOR SALE


London, LND N1 8LX
$850,000 USD
203-872-2379
132-134 Essex Rd, London, LND for Sale
$850,000 USD
Storefront - FOR SALE
1/6
null | 6.76% Cap Rate

132-134 Essex Rd
London, LND N1 8LX


HIGHLIGHTS

  • PRIME LOCATION
  • STRONG TENANCY
  • AGA WITH CO-OP
  • £57,500 pax RENTAL INCOME
  • OIRO £850,000 S.T.C
  • 6.5% NIY

OVERVIEW

Location: This property is located at the southern end of Essex Road, positioned within a bustling local parade that features a blend of national and independent retailers. It benefits from excellent public transport links, with Essex Road Railway Station just a 3-minute walk away, Highbury and Islington Underground Station approximately 12 minutes on foot, and several bus routes servicing the area. Description: A freehold investment opportunity featuring a prominent convenience store in the heart of Islington, supported by a strong covenant. Accommodation: Ground Floor: 2,489 sq. ft. (231 m²) (Note: The above measurements are approximate and based on net internal area.) Tenure: Freehold, subject to commercial tenancy. Tenancy Information: The property is leased to Nisa Enterprises for a term of 10 years commencing June 2018, through an assignment with the Co-op Group, subject to an Authorised Guarantee Agreement (AGA). It is noted that the lease falls within the Landlord and Tenant Act 1954. Passing Rent: £57,500 per annum exclusive. Covenant: Co-operative Group is one of the largest consumer co-operatives globally, owned by millions of members. It ranks as the sixth-largest food retailer in the UK, operating over 2,500 local, convenience, and medium-sized stores. Additionally, they are the UK’s leading funeral services provider, a significant general insurer, and a growing legal services provider. With nearly 70,000 employees, Co-operative Group is recognized for its clear financial and operational objectives, as well as its leadership in social goals and community-focused initiatives. Price: Offers are invited in the region of £850,000, subject to contract and existing tenancies. This price reflects a net investment yield of 6.5% and a gross yield of 6.8%. VAT: The property is not registered for VAT.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$342 USD /SF

CAP RATE

6.76%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

-

APN/PARCEL ID

283076,AGL451093,NGL759746,NGL872021

ASK ABOUT THIS PROPERTY

Jason GrantCountrywide Commercial (UK) LimitedMore Info
203-872-2379

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Jason GrantCountrywide Commercial (UK) LimitedMore Info
203-872-2379

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.