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6-9 Cynthia St
6,521 SF 100% Leased Office Building London N1 9JF £3,750,000 (£575/SF) 7.10% Net Initial Yield
Investment Highlights
- Rarely available freehold investment comprising a former Victorian-era warehouse on the borders of King's Cross, Angel, and Clerkenwell.
- Historic, personal D1 use, reverting to B1 (Class E) at the expiry of the leases or if the tenant vacates the building.
- Historic prior approval to convert the lower-ground and second floors to residential use and planning consent to build a third-floor penthouse flat.
- Fully occupied by a long-standing tenant under four leases at a total passing rent of £282,396 PA.
- Enjoys excellent levels of natural light with Crittall-style windows, generous floor-to-ceiling heights, and an exposed vaulted ceiling.
- King's Cross and Angel stations are an approximate 10-minute walk in either direction.
Executive Summary
The current tenant recently upgraded the building, which is now organized and used as a state-of-the-art Montessori school in King's Cross. With a single long-standing tenant under four leases paying a rent of £282,396 per annum and a net initial yield of 7.1% after assumed purchaser’s acquisition costs, 6-9 Cynthia Street offers an ideal city centre investment opportunity.
Sale Flyer
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
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Gross Rental Income | - | - |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | - | - |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Actual - 2024) Click Here to Access
Gross Rental Income | |
---|---|
Annual | - |
Annual Per SF | - |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income | |
---|---|
Annual | - |
Annual Per SF | - |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts Sale Pending
Amenities
- EPC - B
- EPC - C
About Northern Fringe
London’s northern fringe encompasses a host of trendy and dynamic areas like Shoreditch, Angel, Hoxton, Camden and Finsbury Park, plus affluent residential hotspots like Hampstead and Crouch End. The area has risen in status as an office market over the past decade, thanks largely to its popularity among technology, media and creative firms. Major occupiers in the vicinity include MTV, Ticketmaster and Wise. The area has enjoyed outsized growth in office rents and prices over the past decade, though buyers here can still get a decent discount relative to properties in central London.
The area benefits from excellent public transport and cycling links to central London, with a host of underground and overground stations nearby. Major roads nearby include the A406 North Circular Road and the A1. Strong transport connections and a vibrant social/retail scene have helped fuel outsized population growth in recent years, with a host of residential developers targeting the area due to its popularity with young professionals. Its population is projected to continue rising faster than the London average in the coming years, too, increasing the area’s vibrancy still further, as well as its pool of local workers.
DEMOGRAPHICS
Demographics
Nearby Amenities
Restaurants |
|||
---|---|---|---|
Liman Restaurant | Turkish | £££ | 4 min walk |
Basilico | Pizza | £ | 3 min walk |
Holy Cow Fine Indian Food Ltd | - | - | 4 min walk |
Retail |
||
---|---|---|
Sports Direct | Sporting Goods | 4 min walk |
Cash Converters | Consumer Electronics | 5 min walk |
Hotels |
|
---|---|
DoubleTree by Hilton |
381 rooms
6 min walk
|
Crowne Plaza |
430 rooms
11 min walk
|
Tribute Portfolio |
88 rooms
13 min walk
|
Sale Advisor
David Shapiro, Director
He graduated with a BSc (Hons) in Estate Management from the University of Westminster and became an Associate member of the Royal Institution of Chartered Surveyors in 1997.
Presented by
6-9 Cynthia St
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