Caledonian Road, Kings Cross, N1 - £5,400,000
The Stamp Duty for this property would be £561,750 (Show break down) (Hide break down)
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An excellent freehold building for sale located a stone throw away from kings cross and St. Pancras international stations.
This is a fantastic investment opportunity to purchase six one bedroom apartments, a three bedroom maisonette house with a large commercial unit. The building is based on four levels, the commercial premises is located on the ground and lower ground floor of the building ranging from 3000 SQ FT in total, approximately 1300 SQ FT on the ground level and 1700 SQ FT on the lower ground, the commercial premises is currently achieving £60,000.00 per annum. (A rent review increased has been confirmed, bringing the new rent for the commercial to £90,000 pa from September 2018).
There are three one bedroom apartments on the first floor and another three bedroom apartments on the second floor. The one bedroom apartments are approximately ranging between 315 SQ FT to 400 SQ FT and have been fully refurbished and decorated to a very high standard, with large sash windows allow plenty of natural light, wood flooring though out, built in custom made wardrobes that fit the bedrooms and fully fitted kitchens with modern appliances.
The six one bedroom apartments are currently achieving £118,196.00 per annum. The three bedroom maisonette house comprises of a generous open plan kitchen and lounge on the ground floor with a W/C, furthermore there is two courtyards, one terrace that is accessible from the living room and one balcony that overlooks the surrounding area, three double bedrooms on the lower ground floor with two en suites, one of the bedrooms has direct access to one of the lovely courtyards. The approximate size of the three bedroom maisonette is 1500 SQ FT, The rent being achievable for the maisonette is approximately £44,200.00 per annum.
Total income achieving for the whole building - £252,396.00 The building can be potentially extended to another floor with planning permission, which can potentially become three more one bedroom apartments to generate more income.
This superb building is located minutes away from the new re-generation work that is happing now in Kings Cross, which is labelled with a new postcode, the famous N1C. The N1C postcode has 63 acres of land being redeveloped, with new housing developments which will house approximately fifty thousand new tenants moving to the area.
A new university (Central St. Martin's newest campus), furthermore supermarkets and parades of new commercial units which are open for business and lastly an all new Google headquarters. Google are coming to kings cross and are estimated to spend approximately 1 billion pound on their new building which is aiming to open in late 2018/2019.
This freehold building is available now, early viewings are highly recommended.
Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.