9 Chapel Market, Islington, London N1 9EZ

Description

Freehold Investment - Restaurant & 2 Flats - Gross Yield 8.9%. A mid terraced building comprising a Ground Floor Restaurant and Basement with separate front access to 2 Self-Contained Flats on first, second and third floors.

Accommodation

Ground Floor Restaurant and Basement with separate front access to 2 Self-Contained Flats on first, second and third floors.

Location

Located close to the junction with Penton Street, in this famous market location within the heart of Islington, which includes a diverse range of shops and restaurants as well as Marks & Spencer, Sainsbury's, Waitrose, Sports Direct and other multiple retailers. The property is close to Angel Underground Station (Northern Line) and The Islington Business Design Centre.

Tenure / Property Information

Investment Analysis

The £1,150,000+ figure is an auction guide, not a valuation. The only supplied comparable is a 2010 freehold flat sale at £200,000 and is not sufficiently comparable to this freehold mixed-use building comprising a restaurant and two flats. The description states an 8.9% gross yield, but no passing rent, rent schedule or calculation basis is supplied, so the yield cannot be independently tested.

Investment Snapshot

Strategy Recommendation

Do not set a bid or commit to a strategy from the supplied evidence alone. Proceed only after verifying the rent, occupational arrangements, leases, condition, compliance and value of both the restaurant and flats.

Works Required

No works are specified in the evidence. Obtain building, fire-safety and services surveys, verify the condition of the restaurant and flats, and budget only after inspection and review of the tenancy and compliance documentation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable without verified rent, condition, refurbishment costs, tenancy information and an independent GDV or refinance valuation. The stated 8.9% yield should not be relied upon until the underlying income and property documentation are checked.

Buy-to-Let Analysis

The property is described as producing an 8.9% gross yield, but no rent amount, tenancy information or rent schedule is supplied. BTL performance, annual income, operating costs and a verified yield therefore cannot be calculated. The restaurant and two flats should be assessed separately, including tenure, occupancy and lease terms.

Flip Analysis

A flip appraisal cannot be completed because there is no supported GDV, refurbishment budget, comparable evidence for the whole mixed-use asset or selling-cost allowance. The supplied 2010 flat sale is not an appropriate basis for resale valuation.

Investor Risks & Due Diligence

• The stated 8.9% gross yield cannot be verified because no rent or calculation basis is supplied.

• Occupancy and lease information are not supplied for the restaurant or either flat.

• Condition, refurbishment requirements and statutory compliance information are not supplied.

• The only comparable is a 2010 flat sale and is not sufficiently comparable to the whole mixed-use property.

• Additional non-optional auction fees may apply beyond the stated £1,500 administration charge.

• The £1,150,000+ figure is only an auction guide and does not establish market value.

Recommendation

Do not set a bid or commit to a strategy from the supplied evidence alone. Proceed only after verifying the rent, occupational arrangements, leases, condition, compliance and value of both the restaurant and flats.

Strategy Rating

Analysis Confidence

The evidence includes an auction guide, property description, stated gross yield and one non-comparable historic sale, but lacks rent details, occupancy, leases, EPC, condition, valuation comparables and most transaction-cost information.