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109 Kings Cross Rd 793 sq ft Retail Unit Offered at £395,000 in London WC1X 9LR
Investment Highlights
- Prominent King's Cross Road position
- Close to King's Cross & Farringdon
- Period mixed-use building
Executive Summary
The property forms part of a traditional period terrace fronting King's Cross Road in Central London. The building provides retail accommodation at ground floor level with ancillary basement space and benefits from a prominent roadside position within an established mixed commercial and residential location between King's Cross and Farringdon.
1 Unit Available
- Unit
- Unit Size
- Unit Use
- Price
- NOI
| Sale Type | Investment | Tenure | Long Leasehold |
| Sale Type | Investment |
| Tenure | Long Leasehold |
Description
The accommodation comprises a ground floor restaurant arranged predominantly in open-plan format with ancillary basement accommodation. The unit benefits from gas, externally ducted extraction, licensed restaurant use and ancillary storage and support space at basement level. The layout is suited to restaurant, café or other Class E occupiers, subject to any necessary consents.
Sale Notes
Available for sale on a new 999 year headlease, at a peppercorn rent. The premises has been underlet to Xiran Limited for a term of 19 years from 20th January 2022 , on a full repairing and insuring lease, granted outside sections 24-28 of the Landlord & Tenant Act, for security of tenure.
The passing rent is £26,500 PAX and it is considered that the lease is reversionary with the next rent review being 20th January 2027, upward only, to open market rental value.
The passing rent is £26,500 PAX and it is considered that the lease is reversionary with the next rent review being 20th January 2027, upward only, to open market rental value.
| Unit | Unit Size | Unit Use | Price | NOI |
| Unit Restaurant | 793 sq ft | Retail | £395,000 (£498.11/sq ft) | - |
Unit Restaurant
| Unit Size |
| 793 sq ft |
| Unit Use |
| Retail |
| Price |
| £395,000 (£498.11/sq ft) |
| NOI |
| - |
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Unit Restaurant
| Unit Size | 793 sq ft |
| Unit Use | Retail |
| Price | £395,000 (£498.11/sq ft) |
| NOI | - |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Description | |
| The accommodation comprises a ground floor restaurant arranged predominantly in open-plan format with ancillary basement accommodation. The unit benefits from gas, externally ducted extraction, licensed restaurant use and ancillary storage and support space at basement level. The layout is suited to restaurant, café or other Class E occupiers, subject to any necessary consents.</li></ul> | |
| Sale Notes | |
| Available for sale on a new 999 year headlease, at a peppercorn rent. The premises has been underlet to Xiran Limited for a term of 19 years from 20th January 2022 , on a full repairing and insuring lease, granted outside sections 24-28 of the Landlord & Tenant Act, for security of tenure.<br> <br> The passing rent is £26,500 PAX and it is considered that the lease is reversionary with the next rent review being 20th January 2027, upward only, to open market rental value.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Property Size | 793 sq ft | Typical Floor Size | 400 sq ft |
| Property Type | Retail (Unit) | Year Built | 1776 |
| Property Subtype | Shopfront | Tenancy | Single |
| Costar Property Class | B | Total Plot Size | 0.03 ac |
| Floors | 4 |
| Total Property Size | 793 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront |
| Costar Property Class | B |
| Floors | 4 |
| Typical Floor Size | 400 sq ft |
| Year Built | 1776 |
| Tenancy | Single |
| Total Plot Size | 0.03 ac |
Amenities
- Storage Space
1 1
Nearby Major Retailers
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109 Kings Cross Rd
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