3,706 Sq Ft
£2,200,000
  • Ref: 201386
  • Type: Investment, Retail
  • Availability: Available
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Property Summary

Unbroken Mixed Use Freehold Investment

Full Details

The property comprises a mid-terrace five storey building. Five of the Seven flats have been newly refurbished, each benefitting from double-glazed windows, tiled flooring, walk in shower and open plan living, kitchen and dining area.

The property consists of 7 self contained flats, including 3x studios, 2x 2 beds and 2x 1 beds. The 2 one bedroom flats are in need of refurbishment and are currently under rented. The EPC for the commercial and residential aspects range from C to E.

The commercial element is currently let to Hair Definitions, an established hair dresser who signed a 10 year lease in July 2014.

The rents are as follows:

Shop - £13,500 per annum - Lease Expires in July 2024
Flat 1 - £1,200 per month - Studio - AST Expires September 2024
Flat 2 - £1,750 per month - 2 bed - AST Expires February 2025
Flat 3 - £1,200 per month - Studio - New AST being signed
Flat 4 - £1,150 per month - 1 bed - Rolling AST from June 2021
Flat 5 - £1,200 per month - 1 bed - Rolling AST from January 2022
Flat 6 - £1,200 per month - Studio - AST Expires March 2025
Flat 7 - £2,200 per month - 2 bed - AST Expires May 2025

Total income of £132,264 with an ERV of £155,000 per annum

Location
Located in the heart of Archway Road. The property is a 10 second walk from Highgate Station (Northern Line) situated opposite. Numerous buses service the area offering links to Central London, Highgate, Crouch Hill and Camden. There are wide range of cafes, shops and restaurants along Archway Road.