Summary - Caledonian Road, Islington, N1 1DU N1 1DU
3 bed 3 bath Block of Apartments
Ready income and planning upside close to major transport hubs.
Freehold mixed-use block with substantial commercial unit
A rare freehold block in Barnsbury combining a large commercial unit and two modern one-bedroom flats, recently refurbished to a high standard. The commercial unit spans two floors and currently produces £24,000 pa on a 10-year FRI lease; the flats together produce £42,000 pa, giving a current combined yield around 5.74% at the asking price.
The building offers tangible upgrade potential: neighbouring precedence to build up (subject to planning) could add value, and the substantial total area (approx. 2,283 sq ft) provides flexible reuse options. Transport links are excellent — Caledonian Road tube, Upper Street and Kings Cross/St Pancras are all within easy reach, supporting long-term rental demand.
Buyers should note material considerations: the area scores as very deprived with above-average crime, and the solid-brick, pre-1900 construction likely lacks cavity insulation, so thermal upgrades and ongoing maintenance should be budgeted. The commercial lease has a rent review in 2024 and five-year reviews thereafter, which affects short-term income certainty.
Overall this is a hands-on investment for buyers seeking central Islington exposure with immediate rental income, refurbishment upside and potential for planning-led value uplift. It suits investors prepared to manage building maintenance and to engage with planning opportunities.
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