£3,500,000
(£501.94/sq. ft)
Retail premises for sale392 - 396 York Way, London N7
6,973 sq. ft
About this property
Opportunity to acquire an unbroken mixed-use Freehold parade comprising three retail/commercial units at lower ground and ground floor level, with seven residential apartments across the upper parts.
Significant asset management opportunities with opportunities to refurbish and reconfigure the units.
Total passing income of £230,800 per annum, apportioned as follows: 392 York Way – £62,400 pa | 394 York Way – £77,400 pa | 396 York Way – £91,000 pa.
The buildings extend to approximately 6,973 sq ft (647.8 sq m) NIA, arranged over lower ground, ground and three upper floors.
Offers are invited in excess of £3,500,000 (Three Million Five Hundred Thousand Pounds) for the Freehold interest, reflecting a low capital value of c.£500 psf.
The opportunity comprises an unbroken Freehold mixed-use terrace of three Victorian buildings over five levels. It includes three commercial units on the lower ground and ground floors, with seven residential apartments above, currently let on ASTs and serviced accommodation agreements.
Commercial tenants include Cramers Butchers, vsl Coffee & Lounge, and Half Cut
Market, providing a diverse stream of income. The asset(s) offers an opportunity to increase value through lease restructuring, rent reviews, and refurbishing or repositioning the residential units (subject to consent).
There is scope for additional massing or conversion, subject to planning permission. Copies of some floor plans are available upon request. All floor areas provided are indicative, prospective purchasers are encouraged to make their own assessments.
Location
The parade occupies a prominent position on York Way within the London Borough of Islington, an established mixed-use location situated between King’s Cross, Kentish Town and Camden Town.
York Way is a well-connected arterial route benefitting from a range of local amenities, strong residential catchments and sustained occupational demand. The surrounding area offers an extensive range of amenities, supporting strong residential and commercial occupier demand. Nearby retail and leisure provision includes Coal Drops Yard, Granary Square and the wider King’s Cross regeneration area, which has transformed into one of London’s premier mixed-use districts.
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