Retail premises for sale

Stoke Newington Church Street, London N16

The unit is located on Stoke Newington Church Street, at the junction with Lancell Street. The local area is predominantly residential and benefits from a good number of boutique and national operators on the street.

Neaby occupiers include Foxtons, Whole Foods Market, Mind and Pret A Manger.

Description

The unit is arranged over ground floor and basement, occupying a prominent corner position and benefiting from a good return frontage on Lancell Street.

Tenure

Freehold.

The residential upper parts have been sold off on long leaseholds at a peppercorn ground rent.

Price

Offers in the region of £578,000, which represents a Net Initial Yield of 6.5%, after deducting purchaser’s costs, and a reversionary yield of 6.84%.

Address Tenant Use
47 Stoke Newington Church Street Jimmy Fairly UK Limited Class E

Size 474 sq ft ground floor and 200 sq ft in the basement

Lease start date 07/07/2022
Lease end date 06/07/2032
Next rent review 07/07/2027
Tenant break clause 06/06/2027

Rent
Year 1 - £37,500 pax
Year 2 - £38,500 pax
Year 3 - £39,500 pax
Year 4 - £40,500 pax
Year 5 - £41,500 pax"