Entirely let to Vodafone Limited until 2026 (subject to option)
Busy and prominent central London location
Future residential potential on upper floors (subject to consent)
Nearby occupiers including Marks & Spencer, Burger King, New Look, Boots, Costa Coffee and Caffè Nero
Lot 5
Auction 14th February 2019
Rent £53,500 per Annum Exclusive
Status Sold
Price £1,130,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
4 miles north of London City Centre
Roads
A1, A503, M1
Rail
Holloway Road Underground Station (Piccadilly
Line), Kings Cross, London Euston
Air
London Heathrow, Luton and London City Airport
Situation
Holloway is a busy and well recognised location in the inner-city district of the London borough of Islington situated just four miles north of London’s city centre. Holloway Road (A1) is the main shopping destination for Holloway and the location benefits from excellent communications via the A1 and Holloway Underground Station. The property is located on the north side of Holloway Road; close to its junction with Parkhurst Road and Seven Sisters Road, within close proximity to the Nags Head Shopping Centre. Nearby occupiers include Marks & Spencer, Burger King, New Look, Boots, Costa Coffee and Caffè Nero.
Tenure
Freehold.
Location
Miles
4 miles north of London City Centre
Roads
A1, A503, M1
Rail
Holloway Road Underground Station (Piccadilly
Line), Kings Cross, London Euston
Air
London Heathrow, Luton and London City Airport
Situation
Holloway is a busy and well recognised location in the inner-city district of the London borough of Islington situated just four miles north of London’s city centre. Holloway Road (A1) is the main shopping destination for Holloway and the location benefits from excellent communications via the A1 and Holloway Underground Station. The property is located on the north side of Holloway Road; close to its junction with Parkhurst Road and Seven Sisters Road, within close proximity to the Nags Head Shopping Centre. Nearby occupiers include Marks & Spencer, Burger King, New Look, Boots, Costa Coffee and Caffè Nero.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with first, second and third floor ancillary accommodation. There is a small basement area which is accessed via a hatch. The property benefits from a small yard at the rear. The property has future potential for a residential conversion on the upper floors subject to the necessary consents.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack at acuitus.co.uk
Description
The property comprises a ground floor retail unit with first, second and third floor ancillary accommodation. There is a small basement area which is accessed via a hatch. The property benefits from a small yard at the rear. The property has future potential for a residential conversion on the upper floors subject to the necessary consents.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground First Second Third
Retail/Ancillary Ancillary Ancillary Ancillary
82.22 sq m 39.48 sq m 35.77 sq m 27.87 sq m
(885 sq ft) (425 sq ft) (385 sq ft) (300 sq ft)
VODAFONE LIMITED (1)
10 years from 05/09/2016 on a full repairing and insuring lease (2)
£53,500
05/09/2021 (04/09/2026)
Total
185.34 sq m
(1,995 sq ft)
£53,500
(1) For the year ending 31st March 2018, Vodafone Limited reported a turnover of £6,253,600,000, pre-tax losses of £339,900,000 and a total net worth of £3,401,600,000 (Source: Experian Group 22/11/2018). Vodafone operates in 26 countries with almost 444 million customers worldwide. Vodafone employs over 13,000 people across the UK (Source: www.vodafone.com 22/11/2018). (2) The lease provides a tenant option to determine on the fifth anniversary of the lease upon 6 months notice.
