Rare Freehold Investment in the Heart of Camden Ideally Suited for Owner Occupiers, Hotels, or Residential Conversion
Summary
- Located in the heart of Camden, world famous for its eclectic mix of street markets, food markets, leisure offering, bespoke shops, canal routes and music venues.
- Extremely well connected within a minute’s walk from Mornington Crescent Underground station (Northern Line).
- Mixed use asset compromising a total of 22,734 sq ft (2,112 sq m), consisting 9,554 sq ft of retail and 13,180 sq ft of office space. There is land at the rear of the property, currently used as a car park consisting of approximately 0.075 acres.
- Ground floor retail units let to Sainsbury’s and Boots.
- Vacant Possession of the upper parts can be achieved, presenting an opportunity for substantial refurbishment or redevelopment.
- There are several local developments in the immediate vicinity including hotels, apart-hotels, new residential developments and the £70m KOKO restoration.
- Current total income of £529,500 per annum.
- Ideally suited for Owner Occupiers.
- Freehold.
- Seeking offers in excess of £12,000,000 (Twelve Million Pounds) for the freehold interest in the property.
- A purchase at this level reflects a capital value of £530 per sq ft if a 5% initial yield is applied to the retail income. This is after allowance for purchaser’s costs of 6.8% and subject to contract and exclusive of VAT.
