Sunday, 20 May 2012

London E8 Development site



Subject: KINGSLAND ROAD, LONDON E8
DEVELOPMENT OPPORTUNITY / INVESTMENT
PROMINENT CORNER RESTAURANT
RESIDENTIAL BUILDING, FREEHOLD FOR SALE
The price is £2.5 Million plus VAT.
DESCRIPTION:
The building is arranged over basement, ground and three upper floors currently
arranged as ground floor restaurant with basement kitchen. The upper floors presently
comprise 17 self contained studio flats accessed via its own entrance on Kingsland
Road. Each flat comprises studio room with kitchen, separate shower room/wc. The
property may also suit development, subject to receipt of Planning Permission.
Ground Floor Restaurant & Basement:
Let on a Full Repairing and insuring lease for a term of 20 years from October 2000,
subject to 4 yearly rent reviews (next rent review October 2012) at a current rental of
£60,000 per annum exclusive.
Residential:
The flats are all currently let on assured shorthold tenancy agreements and produce an
income of £162,240 per annum exclusive.
TOTAL RENTAL INCOME: £222,240 per annum exclusive.

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