£660,000
(£368.30/sq. ft)
Retail premises for sale16 Chapel Market, Islington N1
1,792 sq. ft
About this property
Total Income: £45,500 pa fixed until January 2031
Located on the popular and busy Chapel Market (one of London's last remaining authentic street markets)
Upper parts sold off on a 999 year long lease with a ground rent of £500 pa
Ground floor and basement let to Rough Cut Casuals Limited, a well established school uniform provider in occupation.
Excellent transport links with Angel Tube Station (Northern Line) 400m away and Kings Cross St Pancreas Station 1km
Subject to a 25 year lease to Rough Cut Casuals Limited granted January 2016.
16 Chapel Market is Grade II listed freehold property arranged over 5 floors with a well established school uniform retailer occupying the commercial element and a collection of residential apartments above. The residential element has been sold off on a 999 year long lease and benefits from a £500 pa ground rent payable to the freehold.
The commercial element is let to Rough Cut Casuals Limited (formally known as Young Folk) a well established school uniform retailer who have been in occupation since 1976 with the current company incorporated in 2002. The retail element is let on a 25 year lease granted 2016 with a passing rent of £45,000. No tenant breaks for the remainder of the lease the next Rent Review in January 2031.
Location
Chapel Market is a well-established and highly regarded location situated in the heart of Islington, within the London Borough of Islington (N1). The area is characterised by its vibrant streetscape, historic market, and proximity to a wide range of amenities and transport connections, making it one of North London’s most attractive mixed-use environments.
The property benefits from an excellent central position, located a short distance from Upper Street, which comprises a diverse mix of independent retailers, national operators, restaurants, cafés, and public houses and a mix of high value residential.
The location also benefits from a strong local catchment, with a dense residential population and a significant daytime workforce. The nearby Angel Central Shopping Centre enhances the area’s retail offering, while Regent’s Canal and Barnard Park provide valuable green and recreational spaces.
Chapel Market retains a distinctive character as one of London’s few remaining traditional street markets, trading six days a week and contributing significantly to the area’s appeal and footfall.
Viewings
Via arrangement with the sole agents Dutch & Dutch.
Terms
Freehold subject to a 25 year lease to Rough Cut Casuals Limited granted January 2016.
Lease available on request.
No break clauses and the next rent review in January 2031
Investment Summary
Total Income: £45,500 per annum as from January 2026 until January 2031.
Gross Initial Yield: 6.90 % on a guide price of £660,000 (No VAT)
WAULT: 16 years 3 months
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