The property market in London has more than a few rare gems. One of the most impressive in Islington recently is an entire street of properties along a traditional cobbled street. Rheidol Mews is home to twenty buildings that are one and two storey. The entire row will go to auction this month. This will be the first time the properties change hands for eight decades.
A wonderful history
The mews properties are Victorian with plain brickwork facades and hidden roofs. Many of the buildings also have garages. They were originally coach houses and stables for the wealthier homes in the area.
The whole Mews was bought by William J. Gowar & Company before World War II. The owner transformed the buildings into workshops, attracting a number of different businesses. Some of the workshops are still occupied to this day whereas other buildings have become offices.
During WWII almost 700 bombs fell on Islington. A high explosive one fell on Rheidol Terrace, the main street and entry to the Mews. It was an incredible near miss but the properties survived.
Investment potential
This is potentially the first time an entire mews has been on sale as a single lot. The row of buildings is already attracting interest from developers and investors. The belief is that the properties could become new homes. These would be in high demand because of the period features, gated community, and close proximity to the amenities of Angel, Islington.
The auction is on 15th May. There is already interest even with the £4million guide price. If a buyer did get planning permission to transform the buildings into homes the value could be more than double this though.
Finefair is the very best team for guaranteed rent Islington has to offer. We support investors and work hard to ensure they are up to date on the latest opportunities in the area. Rheidol Mews certainly falls into this category. It will be interesting to see who purchases them and what their plans are for the future.
If you would like any information about our services in the meantime, please don’t hesitate to get in touch. We can discuss anything with you, including our position as the most reliable team for guaranteed rent Islington has.
