PROPERTIES

Units 1 A&B , 427-429 Cally Yard, Caledonian Road, N7

Price£9,927,500

PDF DETAILS

Units 1 A&B , 427-429 Cally Yard, Caledonian Road, N7

  • Income£662,665
  • Yield6.25%
  • SectorOffice
  • StatusUnder Offer
PDF DETAILS

Outstanding Well Let London Office Investment Opportunity

Summary

  • Well located on the western side of Caledonian Road in Islington, just 3 minutes’ walk from Caledonian Road Underground Station.
  • A brand new self-contained ground floor office providing 13,950 sq ft (1,296 sq m) of unique double Height accommodation.
  • Forms part of the brand new London Square mixed used development.
  • Let to Instant Managed Offices Ltd for a term of 5 years from 16th April 2021. In addition there is a Tenant Substitution Agreement whereby the Secretary of State for Housing, Communities and Local Government have certain step in rights.
  • Tenant will trade as Job Centre Plus.
  • Income of £662,665 per annum.
  • Virtual freehold (999 years) at a peppercorn.
  • Offers in excess of £9,927,500 (NINE MILLION NINE HUNDRED AND TWENTY SEVEN FIVE HUNDRED THOUSAND POUNDS) subject to contract and exclusive of VAT.
  • Net initial Yield of 6.25% after allowance for purchasers costs of 6.8%