• To be sold by Knight Frank Auctions on the 19th October, unless sold prior.

• London N7 Freehold

• Renovation/Redevelopment Potential

• EPC: D

Property Description

Freehold office comprising 4,700 sq ft (GIA) over 5 floors
On the instructions of Camden and Islington NHS Foundation Trust.
Provides an asset management & development opportunity (1)
VAT is not applicable
Approx. 4 miles north of the City of London
Close to Tufnell Park, Archway & Holloway Road Stations

In the same ownership for 29 years.

The property comprises a 5-story office building arranged over lower ground, upper ground, first, second and third floors. The accommodation provides circa 439 sq m (4,700 sq ft) (GIA) . At the rear is outside space currently used as a bike store & garden.

Tenure
Freehold – Title Number NGl718192

Tenancy
On completion of the sale the property will be let to the NHS until 31 May 2024 with a tenant only break option upon 2 weeks’ notice.
Rent will be a peppercorn until 31 March 2024, then £4,625 per month. The intention is that all staff are relocated from the building by 31 March 2024, however the seller requires flexibility in this regard.

Planning (1)
The property may benefit from a variety of alternative uses subject to all necessary consents & permissions. For further information please visit www.islington.gov.uk/planning.

VAT
VAT is not applicable

EPC
Rating D

The extent of the property to be sold, is as shown on Title Plan No. NGL718192, available for inspection within the legal pack.

For the avoidance of any doubt, the metal staircase abutting the southern flank wall of the property is not included in the sale. The staircase has been used by the NHS Trust for the purposes of a fire escape for in excess of 20 years. The buyer will not raise any requisitions thereon.

Location

The property is located in the London Borough of Islington on Holloway Road close to its junction with Tollington Way, adjacent the Northern Health Centre. The location provides excellent access to a wide range of shops, bars and restaurants of Islington nearby on Holloway Road. Local amenities also include Sainsburys, Tesco express and Aldi for groceries, Islington North Library, a gym, Whittington Park and the Emirates Football Stadium are within walking distance. The area benefits from convenient transport links with Archway & Holloway Underground Stations (Northern Line) and Holloway Road Underground Station (Piccadilly Line) located close by with links into the City. There are also a number of schools in the area including St Mark's CofE Primary School (0.3 miles), Grafton Primary School (0.3 miles) and Duncombe Primary School (0.5 miles).

Occupancy

Tenanted

Tenure

Freehold

EPC Rating

D

Buyers fee

The buyers fee is £1500 including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property.

Auction Details: The sale of this property will take place on the stated date by way of and is being sold as Unconditional. Binding contracts of sale will be exchanged at the point of sale. All sales are subject to the Common Auction Conditions and Extra General Conditions. Auctioneer Fees and Deposit. The following deposits and non-refundable auctioneer fees apply: • 10% deposit, subject to a minimum of £5,000. The deposit contributes to the purchase price. • Buyer’s Fee- the value of this fee will be listed against the property details, inclusive of VAT. The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability. There may be additional fees contained within the Special Conditions of Sale, which can be viewed within the Legal Pack. You are strongly advised to read the Legal Pack carefully before bidding. Additional Information: For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the Knight Frank Auctions’ website. This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack. Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Auction Conduct Guide.