The property is located at the northern end of Newington Green Road in the heart of Newington Green; a highly desirable part of London situated between Highbury, Stoke Newington, Hackney and Islington. The immediate vicinity has an abundance of independent shops, cafés, pubs, restaurants and high street chains, which include: Boots, The Post Office, Tesco Express, Lizzy's On The Green, Jolene Bakery, Trattoria N16 and Acoustic Brasserie to name a few.
The property has excellent transport connections. Canonbury Station (Overground Line) is 450m to the south-west and Dalston Kingsland Station (Overground Line) is 800m to the south-east of the property. Highbury & Islington Station (Victoria, Overground and Great Northern Lines) is circa 1.4km south-east of the property. Newington Green is well served by a plethora of bus services and metered parking is available at the front of the property.
Gross internal area 103.68 sq.m. /1116 sq.ft.
Total income passing p.a.: £225
The property comprises a basement & ground floor retail unit fitted out for and historically trading as a bakery, with two residential dwellings arranged over first and second & third floors.
The retail unit arranged over ground and basement levels (137) is configured predominantly to provide sales space, with the addition of preparation space and cold storage at ground floor level. The basement provides commercial kitchen space and access to the rear yard, which has been covered and was used as ancillary storage space.
The residential upper parts of the property are accessed via an entrance doorway to the front of the building at street level. Both of the flats have been sold off on long leases and are not being sold with the benefit of vacant possession.
The first floor flat (137a) is sold off on a 999 year lease from 2016, producing a ground rent of £200pa.
The second & third floor flat (137b) is sold off on a 999 year lease from 1988, producing a ground rent of £25pa.
Freehold for sale by auction, subject to vacant possession of the ground and basement retail unit. 137a is sold off on a 999 year lease from 2016, producing a ground rent of £200pa and 137b is sold off on a 999 year lease from 1988, producing a ground rent of £25pa. The lessees have NOT elected to take up their rights of pre-emption.
Rateable value: £17,250
Estimated Rates Payable: £8,280 per annum
Service charge: TBC
Local authority: London Borough of Islington