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Chalton Street, Camden NW1 Investment for sale

£4,200,000

Property description

    Property features

  • Investment
    (Investment)
  • Dimensions: 790 m2
    (8503 ft2)

A rare opportunity to acquire a highly sought-after freehold in a superb location, just off Euston Road. The prominent four-storey building offers both commercial and residential space, over the basement, ground, first, second and third floor totaling 8,503 sq ft.

The property is unique in that it has asset management, investment and development angles to it, therefore making it potentially suitable to a range of purchasers.

The commercial accommodation is across the basement, ground and first floor of the property. SN Estates Ltd occupies part of the ground floor and basement of 47 Chalton Street, whilst the remaining ground floor and basement space at 49-51 Chalton Street remains vacant. The entirety of the first floor is currently let by a community Charity whose lease has recently expired, however, they continue to pay rent whilst they remain in occupation.

The remaining floors of the property are occupied by three separate flats. One is a studio, the remaining two are 3 beds, all let out on 12 months AST agreements. The second floor is occupied by the studio and first 3 bed flat and the entire third floor is let to the reamining 3 bed flat.

Location: The Property is prominently positioned on Chalton Street, a charming side street in the centre of London, situated in the Borough of Camden. The surrounding area is made up of a vibrant mix of commercial and residential properties. The Property is just off Euston Road (A501) an important thoroughfare in Central London. On top of this, the property is surrounded by major overground stations and therefore benefits from excellent footfall and accessibility. London Euston Station (National Rail and underground) is in very close proximity to Chalton Street, being just 0.2 miles away, it is the busiest intercity railway and is due to see the arrival of the new HS2 by 2025. St Pancras International, which connects London to the majority of the United Kingdom and is home to the Eurotunnel is just a 10-minute walk away (0.5 miles). The property is also surrounded by multiple bus stops, providing access to areas such as Paddington, Marble Arch and Victoria. The property lies in a highly desirable location with excellent surrounding transport links and also benefits from being just a 5-minute walk (0.2 miles) from the British Library, which welcomes 1.6 million visitors a year. Due to this, the property is in close prxomity to succcessful retailers, including Pret A Manger, Pizza Express and Barclays.

Terms & conditions: The commercial accommodation at 47 Charlon Street is occupied by SN Estates, a local estate agency (A2 use). They occupy part of the ground floor and basement. They have a 5-year lease from the 1st of July 2019 with a current passing rent of £16,635.84 per annum, a rent review is due in December 2021. The second floor of 47-51 Chalton Street is currently occupied by International Centre For Integration and Cohesion, a community charity (B2 use). Their 3-year lease expired in July 2021, however they are still occupying the unit and paying a current passing rent of £32,000 per annum. The residential accommodation is over the second and third floors. The second floor has two separate flats. The first is a studio let on an AST, expiring in January 2022, with a current passing rent of £2,000 per calendar month. The second flat has 3 bedrooms, let on a recently renewed AST until ......... The final flat has 3 bedrooms and occupies the entire third floor, it is similarly let on a new AST at £2,550 per calendar month.

Business rates: We would strongly advise any interested parties to discuss this with the local council of Camden for a precise figure.

Sale: We are instructed to seek offers in excess of £4.2 Million for the property freehold. This reflects a £ per sqft as an overall basis.

Additional information

Tenure

Freehold

Nearest stations

  • Euston (0.2 miles)
  • London Euston (0.2 miles)
  • King's Cross St. Pancras (0.3 miles)

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