|Property Reference Number||5300052585|
|Building Area Gross||
The subject property comprises a purpose-built ground floor restaurant premises with four floors of residential accommodation sold off above. The ground floor accommodation comprises an open plan restaurant area fitted out to the tenant’s standard specification. The rear area has been subdivided to provide a kitchen area, male and female customer toilets, ancillary staff accommodation, office and plant room.
The restaurant has a predominantly glazed elevation at the front of the property, which is retractable along the Islington Green Frontage, with the added benefit of an outside seating area. All servicing is directly into the ancillary areas of the accommodation via Collins Yard.
- Located in Islington, one of London’s most desirable and affluent borough’s
- Only 2 miles north east of the West End and 1.5 miles north of The City of London.
- Prominent landmark position on the northern end of Islington Green, in the heart of Upper Street’s famous bar and restaurant offering.
- Ground floor restaurant occupied by Bellanger Brasserie with approximately 13.75 years to expiry and no breaks
- Rent of £300,000 per annum
- Lease guaranteed by Mitchells and Butlers Leisure Holdings Ltd who have reported a net worth of £251.1 million
- Virtual Freehold.
- Seeking offers in excess of £4,750,000 (Four Million Seven Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 5.91%, assuming standard purchasers’ costs.