Excess of £3,645,000

Radici30 Almeida Street, Islington, London, N1 1AD

  • Freehold

Key features

  • Freehold restaurant investment
  • Let to Orrery Restaurant Limited (part of D&D London)
  • Lease expiring 3 July 2026
  • Passing rent £155,200 per annum
  • Five yearly open market reviews with the next review in July 2021
  • Potential future rental growth given new lettings that will take place adjacent
  • Business unaffected by sale
  • Restaurant arranged over ground, lower ground and basement levels
  • Offers in excess of £3,645,000 (4.00% NIY) are invited

Located in the heart of Islington in north London, in one of the capitals most affluent districts. The district is famous for its broad variety of attractions from the Chapel and Exmouth Markets to the Almeida and Kings Head Theatres and vibrant bars and nightlife from operators including the O2 Academy and Dirty Martini.

About this property

  • The property comprises a mid-terrace building dating from the mid-20th Century. The restaurant comprises the ground, lower ground and basement of a two storey property of brick elevations, beneath a slate tiled roof and single glazed fenestration. At first floor level the property has previously been converted to 9 residential apartments which have all been sold off on long leases.

Local information

  • Radici occupies a prominent position fronting Almeida Street just off Upper Street in a mixed use residential and commercial area. The property is directly opposite the 325 seat Almeida Theatre and a short distance from occupiers including Paul, Be at One, Kings Head Theatre (Young’s), Nando’s, Jigsaw, Neal’s Yard and The Screen on the Green cinema. Public transport communications are available from Highbury & Islington (Victoria Line and Overground) to the north and Angel (Northern Line) to the south.
  • Diagonally opposite Radici is the new Islington Square development of the former Royal Mail sorting centre by Sager Group (http://www.islingtonsquare.com/). The £400 million development will produce 170,000 sq ft of quality retail and leisure space, public realm and office space, 263 new homes and 108 serviced apartments.