109 King's Cross Road, London, WC1X
£498.11 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
793 sq ft
74 sq m
- SECTOR
High street retail property for sale
- USE CLASSUse class orders: A1 Shops, A2 Financial and Professional Services, A3 Restaurants and Cafes, A5 Hot Food Take away, B1 Business and Class E
A1, A2, A3, A5, B1, E
Key features
- Desirable up and coming location
- Well let Virtual Freehold investment property
- Reversionary with next rent review in c. 1.75 years
- Fitted restaurant unit, including gas and external extraction ducting
- Premises license
- VAT not applicable
Description
The property is brilliantly situated on the west side of King's Cross Road, in an up and coming district, running between King's Cross and Farringdon.
King's Cross station is just a 10 minute walk (Eurostar, Northern line, Circle, Hammersmith and City, Metropolitan and National Rail).
Farringdon station is also only 10 minutes walking too (Elizabeth line).
DESCRIPTION
Comprising the bright, attractive, open plan ground floor restaurant unit and ancillary basement accommodation, of a well maintained, period Building.
The unit benefits from gas, externally ducted cooking extraction, good quality basement space and an alcohol license.
AREA
All areas stated approx.
Ground floor 432 sq ft/40.1 sqm
Basement 361 sq ft/33.5 sqm
TOTAL 793 sq ft/73.6 sqm
HIGHLIGHTS
* Desirable up and coming location
* Well let Virtual Freehold investment property
* Reversionary with next rent review in c. 1.75 years
* Fitted restaurant unit, including gas and external extraction ducting
* Premises license
* VAT not applicable
USER
Class E including restaurant, retail, office and medical.
TENURE
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.
PRICE
£395,000
BUSINESS RATES
We understand the Rateable value of the property is £15,000.
Business rates payable is £7,485 per annum , and are paid by the occupational Tenant under the terms of their lease.
Interested parties are advised to make their own enquiries of Camden Council to confirm all Ratings information provided.
VAT
We understand that the property is not VAT elected and VAT will not be charged on the sale.
EPC
C/67
VIEWING
Through Sole Agent
JARVIS KELLER -
Brochures
109 King's Cross Road, London, WC1X
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Kings Cross Thameslink Station0.2 miles
- King's Cross Station0.4 miles
- King's Cross St. Pancras Station0.4 miles
Notes
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