100 metres from the London Metropolitan University
3 miles north of the City of London
500 metres from the Emirates Stadium
Affluent and popular North London location
Redevelopment potential (subject to consents)
Lot 20
Auction 22nd May 2014
Rent £110,760 per Annum Exclusive
Status Sold
Price £2,050,000
Sector Residential
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
3 miles north of the City of London
500 metres south of the Emirates Stadium
Roads
A1, A501 (Inner Ring Road), A406 (North Circular Road)
Rail
Holloway Road Underground Station (Piccadilly Line), Drayton Park (Overground)
Air
London City Airport, London Heathrow Airport, London Stansted Airport
Situation
The affluent and highly fashionable North London Borough of Islington lies immediately north of the the City of London and is home to attractions such as Saddler’s Wells Theatre, Arsenal’s Emirates Stadium, Highbury Field and the fashionable Upper Street.
The property is prominently located on the south side of Eden Grove directly opposite the major and substantial Vision 7 mixed used development comprises over 50 commercial studios and over 500 privately owned residential units.
Tenure
Freehold.
Location
Miles
3 miles north of the City of London
500 metres south of the Emirates Stadium
Roads
A1, A501 (Inner Ring Road), A406 (North Circular Road)
Rail
Holloway Road Underground Station (Piccadilly Line), Drayton Park (Overground)
Air
London City Airport, London Heathrow Airport, London Stansted Airport
Situation
The affluent and highly fashionable North London Borough of Islington lies immediately north of the the City of London and is home to attractions such as Saddler’s Wells Theatre, Arsenal’s Emirates Stadium, Highbury Field and the fashionable Upper Street.
The property is prominently located on the south side of Eden Grove directly opposite the major and substantial Vision 7 mixed used development comprises over 50 commercial studios and over 500 privately owned residential units.
Tenure
Freehold.
Description
The property comprises a substantial period building which has been converted to 15 self-contained residential studio flats (2) and is registered as a House in Multiple Occupation (HMO). The property benefits from a front courtyard and a large rear garden, which may be suitable to extend into (subject to consents).
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial period building which has been converted to 15 self-contained residential studio flats (2) and is registered as a House in Multiple Occupation (HMO). The property benefits from a front courtyard and a large rear garden, which may be suitable to extend into (subject to consents).
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Unit
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Basement
15
Studio Flat
25.81 sq m
(278 sq ft)
VACANT POSSESSION
(3)
Ground
1
Studio Flat
28.67 sq m
(308 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy from 18/10/2009. Holding over
£7,500
Ground
2
Studio Flat
28.64 sq m
(308 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy from 27/01/2012. Holding over
£8,400
Ground
3
Studio Flat
22.77 sq m
(245 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy for 6 months from 18/02/2014
£7,800
Ground
4
Studio Flat
22.34 sq m
(240 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy from 06/10/2013. Holding over
£7,200
First
5
Studio Flat
11.79 sq m
(126 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy from 01/01/2006. Holding over
£6,240
First
6
Studio Flat
17.70 sq m
(191 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy from 21/12/2009. Holding over
£6,600
First
7
Studio Flat
28.62 sq m
(308 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy from 01/11/2013. Holding over
£9,120
First
8
Studio Flat
24.58 sq m
(264 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy from 16/03/2014 to 15/02/2015
£10,200
Second
9
Studio Flat
17.00 sq m
(183 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy from 18/06/2010. Holding over
£6,900
Second
10
Studio Flat
19.80 sq m
(213 sq ft)
INDIVIDUAL
12/02/2014 to 11/06/2014
£8,760
Second
11
Studio Flat
28.29 sq m
(304 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy from 08/10/2013 to 07/04/2014
£9,000 (4)
Second
12
Studio Flat
26.21 sq m
(282 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy from 23/05/2007. Holding over
£7,500
Third
13
Studio Flat
25.09 sq m
(270 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy from 25/01/2012. Holding over
£7,800
Third
14
Studio Flat
20.03 sq m
(215 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy from 07/04/2011. Holding over
£7,740
Totals
347.34 sq m (1)
(3,735 sq ft) (1)
£110,760 with 1 flat to be let (5)
(1) The floor areas stated above are Gross Internal Areas and exclude common parts. (2)Flats 5, 6, 9 and 10 share two communal kitchens. (3)The previous rental level achieved for flat 15 was £9,000 per annum inclusive. (4)As to flat 11, the rent shown above is inclusive of bills. (5)The above rents have been annualised.
