Of interest to owner occupiers + investors - A mixed use development comprising 2 studio offices along with residential ground rent income

Key Points

• Of interest to owner occupiers + investors
• Income producing, mixed use commercial building
• RIBA award winning development
• 2 modern self contained offices
• Occupied on 3 month terminable licenses
• 12 residential ground rents
• Total net income of £142,560 PA
• 2 parking spaces
• Potential to covert offices to residential
• Convenient location midway between King's Cross and Euston

Description

A rare opportunity to purchase an income producing investment that comprises 2 modern, studio offices occupied under short term licences thereby providing an owner occupier with the opportunity of taking early possession.

Current net income for the offices is £138,000 PA.

The offices are within a secure courtyard environment with both internal and external staircases allowing a fully self contained, duplex office with its own showers, private garden and 2 car parking spaces.

The development includes 12 residential properties that have been sold off on long leases that provide an income of £4,950 PA.

Total net income is £142,550 PA.

Available area

The accommodation comprises the following floor area

Location

Situated on Burton Street which is a short walk to both King's Cross and Euston Stations and with the historic Woburn Walk on its doorstep.

Burton Street was constructed in the early 19th century by the celebrated London developer James Burton, one of the most influential and successful property developers of the Georgian and Regency era and was influential for the Georgian expansion within Bloomsbury, the West End, Regents Park and St. John’s Wood.

Burton Street is mainly occupied by Georgian and Regency terraces that are predominantly occupied by residential properties.

Despite it being very close to Euston Road, is it a quiet and discreet location.

Terms

The long leasehold interest in title number NGL 754661 is being sold subject to various sub tenancies, with some 120 years remaining.

Tenancies

A tenancy structure map is available to download.

A detailed tenancy schedule is available upon request.

Inspections

Via Ashurst Real Estate, the vendor's sole agent

Anti Money Laundering Regulations

We are obliged to conduct customer due diligence under the Money Laundering Regulations 2017 and RICS Professional Standards and will advise which checks are required once heads of terms are agreed.