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89 Holloway Road, London, N7 8LT

Investment Summary:

  • The London Borough of Islington is an established residential and commercial centre, situated within close proximity of Central London.
  • Prime position on the northern side of Holloway Road, within a 3 minute walk to Highbury & Islington underground (Piccadilly Line) and overground station, and Highbury Corner. Holloway Road underground station is within a 10 minute walk.
  • Mixed-use building with commercial use on ground and part first floors measuring 4,619 sq ft and residential on part first and second floors measuring 1,050 sq ft.
  • Total GIA of 5,669 sq ft (526.67 sq m).
  • The commercial space is single let to Breakin’ Escape Rooms Limited until September 2030 at a current rent of £100,000 pa with a fixed uplift from September 2023 until September 2025 to £110,000 pa. Thereafter, the lease further benefits from a fixed uplift to £127,500 pa or RPI (1.5% and 4.5%).
  • The residential element comprises a newly refurbished 3-bedroom flat and let on an AST at £30,684 pa (£590 per week).
  • Total current rent of £140,684 pa (including vendors top-up of £10k pa until September 2025).
  • Freehold.
  • Various asset management opportunities.

Guide price of £2,200,000 stc for the freehold interest reflecting a Net Initial Yield of 6.01% after the deduction of full purchasing costs, and a low capital value overall of £388 per sq ft.

Alternatively, our client will dispose of the freehold interest excluding the residential element at a price of £1,650,000 stc reflecting a Net Initial Yield of 6.28% after the deduction of full purchasing costs, and a low capital value of only £357 per sq ft.