Prominent position on a busy market street close to Angel Underground Station
Nearby occupiers include McDonald’s, Superdrug, Waitrose, Marks & Spencer and JD Sports
Property benefits from high footfall in an established retail area
Six Week Completion Period Available
Lot 3
Auction 21st March 2013
Rent £56,700 per Annum Exclusive
Status Sold
Price £775,000
Sector High Street Retail
Auction Venue The Dorchester Hotel Park Lane Entrance Mayfair London W1K 1QA
Property Information
Location
Miles
Zone 1 Central London location, 1 mile north of the City of London
Roads
Liverpool Road (B515), A1, A501 (Inner Ring Road)
Rail
Angel Underground Station (Northern Line), 1 mile London Kings Cross (Mainline)
Air
London City, London Stansted, London Luton Airport and London Heathrow
Situation
The property is prominently situated on the south side of the busy Chapel Market, home to the largest street market in Islington and some 200 metres from the highly fashionable Upper Street and Angel Underground Station. Chapel Market is a well established retailing street and benefits from high footfall. Nearby occupiers include;
McDonald’s, Superdrug, Waitrose, Marks & Spencer and JD Sports.
Tenure
Freehold.
Location
Miles
Zone 1 Central London location, 1 mile north of the City of London
Roads
Liverpool Road (B515), A1, A501 (Inner Ring Road)
Rail
Angel Underground Station (Northern Line), 1 mile London Kings Cross (Mainline)
Air
London City, London Stansted, London Luton Airport and London Heathrow
Situation
The property is prominently situated on the south side of the busy Chapel Market, home to the largest street market in Islington and some 200 metres from the highly fashionable Upper Street and Angel Underground Station. Chapel Market is a well established retailing street and benefits from high footfall. Nearby occupiers include;
McDonald’s, Superdrug, Waitrose, Marks & Spencer and JD Sports.
Tenure
Freehold.
Description
The property comprises an attractive end of terrace building comprising retail accommodation on the ground floor and two self-contained studio flats on the first and second floors. The flats are accessed separately from the side of the property.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an attractive end of terrace building comprising retail accommodation on the ground floor and two self-contained studio flats on the first and second floors. The flats are accessed separately from the side of the property.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx) (2)
Tenant
Term
Rent p.a.x
Reversion
Ground
Retail
56.33 sq m
(606 sq ft)
THE PERFUME SHOP LIMITED (1)
5 years from 12/11/2012
£33,000
11/11/2017
First
Residential – Studio Flat
36.74 sq m
(395 sq ft)
INDIVIDUAL
1 year from 17/05/2012 on an Assured Shorthold Tenancy
£12,000
Second
Residential – Studio Flat
26.02 sq m
(280 sq ft)
INDIVIDUAL
1 year from 07/10/2012 on an Assured Shorthold Tenancy
£11,700
Total Commercial Floor Area
119.09 sq m
(1,281 sq ft)
£56,700
(1) The Perfume Shop operates from 258 outlets in the UK and Ireland. (Source: www.theperfumeshop.com) For the year ending 31st December 2011, The Perfume Shop Limited reported a turnover of £202,134,683, pre-tax profits of £26,592,098 and a total net worth of £75,244,332. (Source: www.riskdisk.com 18/02/2013) (2) The residential floor areas are Gross Internal Areas.
