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68-69 Upper St 4,861 SF Retail Condo Unit Offered at $5,122,515 CAD in London N1 0NY
Investment Highlights
- Good footfall
- Great transport links
- Great local amenities
Executive Summary
The property occupies a prominent position on the west side of Upper Street, within the heart of Islington’s principal dining and leisure quarter.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Tenure | Freehold |
| Cap Rate | 6.45% |
| Sale Type | Investment |
| Cap Rate | 6.45% |
| Tenure | Freehold |
Description
68-69 Upper Street comprises two adjoining properties arranged as a restaurant over ground, lower ground and part first floor, with residential accommodation above. The restaurant totals 4,861 sq ft and has been extensively fitted out by Wahaca in their distinctive style. Wahaca is a chef-led Mexican-inspired street food restaurant group, founded in 2007 and currently operating 14 individually designed restaurants. The co-founders were voted Restaurateurs of the Year by Caterer Magazine and the business is majority-owned by Leslie Perlman, an executive director of Nando’s. The upper floors, comprising 4 apartments, are sold off on a single overriding 999-year lease at a peppercorn rent of £1
Sale Notes
A freehold restaurant investment on Upper Street, Islington, let to Wahaca and producing £177,500 per annum with approximately 11 years 7 months unexpired on a 25-year lease.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit Restaurant | 4,861 SF | Retail | $5,122,515 CAD ($1,053.80 CAD/SF) | $330,635.05 CAD |
Unit Restaurant
| Unit Size |
| 4,861 SF |
| Condo Use |
| Retail |
| Price |
| $5,122,515 CAD ($1,053.80 CAD/SF) |
| NOI |
| $330,635.05 CAD |
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Street View
Street
Map
Unit Restaurant
| Unit Size | 4,861 SF |
| Condo Use | Retail |
| Price | $5,122,515 CAD ($1,053.80 CAD/SF) |
| NOI | $330,635.05 CAD |
| Sale Type | Investment |
| Cap Rate | 6.45% |
| Tenure | Freehold |
| Description | |
| 68-69 Upper Street comprises two adjoining properties arranged as a restaurant over ground, lower ground and part first floor, with residential accommodation above. The restaurant totals 4,861 sq ft and has been extensively fitted out by Wahaca in their distinctive style. Wahaca is a chef-led Mexican-inspired street food restaurant group, founded in 2007 and currently operating 14 individually designed restaurants. The co-founders were voted Restaurateurs of the Year by Caterer Magazine and the business is majority-owned by Leslie Perlman, an executive director of Nando’s. The upper floors, comprising 4 apartments, are sold off on a single overriding 999-year lease at a peppercorn rent of £1</li></ul> | |
| Sale Notes | |
| A freehold restaurant investment on Upper Street, Islington, let to Wahaca and producing £177,500 per annum with approximately 11 years 7 months unexpired on a 25-year lease.</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 Building Size | 4,861 SF | Typical Floor Size | 3,186 SF |
| Property Type | Retail (Condo) | Year Built | 1890 |
| Property Subtype | Storefront Retail/Residential | Tenancy | Single |
| Building Class | B | Lot Size | 0.13 AC |
| Floors | 2 |
| Total Building Size | 4,861 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Residential |
| Building Class | B |
| Floors | 2 |
| Typical Floor Size | 3,186 SF |
| Year Built | 1890 |
| Tenancy | Single |
| Lot Size | 0.13 AC |
Amenities
- Security System
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Nearby Major Retailers
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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68-69 Upper St
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