132-134 Essex Rd
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132-134 Essex Rd
2,489 SF Retail Building London N1 8LX £850,000 (£342/SF) 6.76% Net Initial Yield
Investment Highlights
- PRIME LOCATION
- AGA WITH CO-OP
- OIRO £850,000 S.T.C
- STRONG TENANCY
- £57,500 pax RENTAL INCOME
- 6.5% NIY
Executive Summary
Location:
This property is located at the southern end of Essex Road, positioned within a bustling local parade that features a blend of national and independent retailers. It benefits from excellent public transport links, with Essex Road Railway Station just a 3-minute walk away, Highbury and Islington Underground Station approximately 12 minutes on foot, and several bus routes servicing the area.
Description:
A freehold investment opportunity featuring a prominent convenience store in the heart of Islington, supported by a strong covenant.
Accommodation:
Ground Floor: 2,489 sq. ft. (231 m²)
(Note: The above measurements are approximate and based on net internal area.)
Tenure:
Freehold, subject to commercial tenancy.
Tenancy Information:
The property is leased to Nisa Enterprises for a term of 10 years commencing June 2018, through an assignment with the Co-op Group, subject to an Authorised Guarantee Agreement (AGA). It is noted that the lease falls within the Landlord and Tenant Act 1954.
Passing Rent:
£57,500 per annum exclusive.
Covenant:
Co-operative Group is one of the largest consumer co-operatives globally, owned by millions of members. It ranks as the sixth-largest food retailer in the UK, operating over 2,500 local, convenience, and medium-sized stores. Additionally, they are the UK’s leading funeral services provider, a significant general insurer, and a growing legal services provider. With nearly 70,000 employees, Co-operative Group is recognized for its clear financial and operational objectives, as well as its leadership in social goals and community-focused initiatives.
Price:
Offers are invited in the region of £850,000, subject to contract and existing tenancies. This price reflects a net investment yield of 6.5% and a gross yield of 6.8%.
VAT:
The property is not registered for VAT.
This property is located at the southern end of Essex Road, positioned within a bustling local parade that features a blend of national and independent retailers. It benefits from excellent public transport links, with Essex Road Railway Station just a 3-minute walk away, Highbury and Islington Underground Station approximately 12 minutes on foot, and several bus routes servicing the area.
Description:
A freehold investment opportunity featuring a prominent convenience store in the heart of Islington, supported by a strong covenant.
Accommodation:
Ground Floor: 2,489 sq. ft. (231 m²)
(Note: The above measurements are approximate and based on net internal area.)
Tenure:
Freehold, subject to commercial tenancy.
Tenancy Information:
The property is leased to Nisa Enterprises for a term of 10 years commencing June 2018, through an assignment with the Co-op Group, subject to an Authorised Guarantee Agreement (AGA). It is noted that the lease falls within the Landlord and Tenant Act 1954.
Passing Rent:
£57,500 per annum exclusive.
Covenant:
Co-operative Group is one of the largest consumer co-operatives globally, owned by millions of members. It ranks as the sixth-largest food retailer in the UK, operating over 2,500 local, convenience, and medium-sized stores. Additionally, they are the UK’s leading funeral services provider, a significant general insurer, and a growing legal services provider. With nearly 70,000 employees, Co-operative Group is recognized for its clear financial and operational objectives, as well as its leadership in social goals and community-focused initiatives.
Price:
Offers are invited in the region of £850,000, subject to contract and existing tenancies. This price reflects a net investment yield of 6.5% and a gross yield of 6.8%.
VAT:
The property is not registered for VAT.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
2,489 SF
Building Class
B
Year Built
1990
Price
£850,000
Price Per SF
£342
Net Initial Yield
6.76%
NOI
£57,500
Tenancy
Single
Number of Floors
1
Building FAR
0.82
Land Acres
0.07 AC
Amenities
- Security System
- Roller Shutters
- Storage Space
- Air Conditioning
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Nearby Major Retailers
-
Jason Grant -
Countrywide Commercial (UK) Limited
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132-134 Essex Rd
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