358 – 360 camden road, n7

Delmany Mansions, 358-360 Camden Road, N7 0LG
RARE FREEHOLD INVESTMENT OPPORTUNITY IN A PRIME AREA OF NORTH LONDON

Investment summary

An imposing Freehold building located equidistant to both Holloway Road and Caledonian Road Tube Stations providing quick and direct access in and around the Capital

Occupies a prominent position on Camden Road in the N7 post code

The building is 92% occupied currently generating £145,000p.a

Market rental values with refurbished apartments will total £290,000p.a (excluding any extension works)

14 self-contained units with 12x one bedroom apartments, and 2x two bedroom apartments all in need of modernisation

Arranged over 4 floors

Recent residential resales reflect values of circa £950 per square foot

Further development potential at the rear of the building and the roof STPP

The building is to be sold occupied

Guide price of £3,900,000 reflecting a low gross capital value of just £582 per square foot or just £278,000 per unit.

Location
The building is situated on Camden Road which is a main road in London running from the junction of Camden High Street and Camden Town Underground station up to Holloway Road. Islington Council are responsible for dealing with the locality.

Camden currently accommodates 30,000 businesses, creates 2% of UK GDP, and there has been a 27% growth in jobs in 6 years totalling more than 360,000 with a 24% rise in Camden based start-ups.
There has been a 55% rise in tech jobs in 5 years making it London’s ‘creativity hub’ and it has become the location of Google’s new European HQ.

There are four leading London hospitals equally supporting 20,000 jobs and Camden is home to more than 20 universities and colleges.

VAT

It is of our understanding that there is no VAT elected on the building.

Ownership

The building is privately owned and not in a company name

Proposal
OFFERS ARE INVITED IN THE REGION OF £3,900,000 SUBJECT TO CONTRACT