Cock Tavern 23 Phoenix Rd

Burlington Green Partners are exclusively instructed on the sale of this mixed-use freehold investment located a stone's throw from St Pancras International, King's Cross and Euston stations.
The building comprises a public house arranged over basement, ground and part 1st floors, along with 5 recently refurbished self-contained flats over 1st, 2nd and 3rd floors.
The building was constructed in the early 20th century and is Grade II listed.
The public house is arranged over basement, ground and part first floors providing a total NIA of 4,830 sq ft.
The ground floor comprises the principal trading area, whilst the basement provides extensive storage and a chilled cellar. The part first floor comprises a function room which is not currently in use, so there could be a conversation to be had with the tenant to utilise this space.
Tenant: The Cock Tavern
FR&I Lease Start: 01/08/2014
FR&I Lease Expiry: 28/08/2028
Current Rent: £60,000 pa reflecting a very low £12.42 per sq ft overall.
The residential units are accessed from the western elevation via a separate entrance leading to a communal hallway with a staircase leading to the upper floors.
There are a total of 5 apartments arranged across the first to third floors, providing one x1-bed, three x2-beds and one x3-bed. All units were refurbished recently and are bright and spacious, fitted with modern appliances and comply with current EPC legislation.
Total Residential NSA of 4,417 sq ft.
All 5 units are let on standard AST's producing a total annual rent of £188,748 per annum.
Residential GDV / Break-Up Value of £3,800,000 (i.e. £860 per sq ft).
Total income of £248,748 pa.
Total NIA of 9,247 sq ft.
Various opportunities to add-value.
Offers sought in excess of £4,000,000 (Four Million Pounds) subject to contract and exclusive of VAT. A purchase at this level will reflect a low blended capital value of £433 per sq ft and a gross yield of 6.22%.