A freehold Residential Investment / Development / Asset Management opportunity in a rapidly growing Zone 2 location with substantial demand. The opportunity comprises three adjoining freehold buildings arranged into 27 self-contained studio flats with a gross internal area of 8,300 SF (770 SM).
Let to Oliver Landon Limited for a term expiring on the 31st of January 2022. (The tenant has confirmed their intentions to extend their lease by a further 10 years.) Total current passing rent of £340,000 per annum. Purchase at the guide price would reflect a Gross Yield of 6.30% and a Capital Value of £651 per SF (GIA).
The property is located just 100 yards from Finsbury Park and directly off Seven Sisters Road, offering a vast parkland and a lively, friendly high street with many new cafés, restaurants and other amenities. Other areas of public interest include the Emirates Football Stadium (0.6 miles away) and a multitude of green spaces, including the Parkland Walk (700 yards away). The site is exceptionally well located for a range of public transport; the local intermodal station is Finsbury Park (Piccadilly and Victoria Lines/Thameslink and National Rail), 300 yards away, providing links into London King’s Cross (5 minutes), Oxford Circus (9 minutes) and Moorgate (14 minutes). There are also several different bus routes available close by.
