12 Brushfield Street, London, E1 6AN

2097 sq. ft.

« Back to search results

Location

The building is located 150 meters from Liverpool Street Station and Spitalfields Market. The immediate area provides an immense variety of amenities, including bustling Spitalfields Market with fashionable stalls, shops, pop-ups, street food, coffee shops, bars and restaurants.

Transport

  • Liverpool Street (Hammersmith and City, Circle, Metropolitan Line, Central Line, TFL rail, London Overground and Mainline Services)
  • Shoreditch High Street (London Overground)
  • Aldgate (Circle and Metropolitan Lines)

Description

A mid-terraced Victorian property of brick and timber construction under partial flat and partial pitched roof with single glazed timber windows.

Arranged over five floors and currently partitioned at each level with the exception of the basement.

Reconfiguration opportunity throughout and neighbouring properties indicate there may be scope to add an additional floor.

Tenancy:

The property is single let to Waveriver Limited who are trading as Skin Health Spa - www.skinhealthspa.com

Lease start 24.02.2018 and expiry 23.02.2021

Passing rent £80,000 per annum.

Fixed uplift to £90,000 per annum on 24.02.2019

Fixed uplift to £95,000 per annum on 24.02.2020

VAT:

The property is not elected for VAT.

Amenities

Approximate floor areas

FLOOR GIA sq. ft.
Third 429
Second 412
First 393
Ground 409
Basement 454
Total 2,097 sq. ft.

Rates

The property has a rateable value of £39,000.

Legal costs

Each party to be responsible for their own legal costs incurred in the transaction.

Sale

The property is registered under freehold title number 349446 and a copy of the title deed and plan is available upon request.

Price

The freehold interest is offered for sale with the benefit of the above-mentioned tenancy.

Offers in excess of £2,000,000 are sought for the freehold interest.

A purchase at £2,000,000 reflects a Net Initial Yield of 3.78% assuming purchasers costs at 5.8%.

A Reversionary Yield of 4.25% from 24.02.2019 to 23.02.2020.

A Reversionary Yield of 4.49% from 24.02.2020 to 23.02.2021.

A purchase at £2,000,000 reflects a capital value of £954 per sq ft.

Property Misdescriptions act 1991 / Misdescriptions Act 1967. Anton Page LLP for themselves and for the vendors of this property whose agents they are, give notice that: These particulars do not form any part of any offer or contract: the statements contained therein are issued without responsibility on part of the firm or their clients and therefore are not to be relied upon as statements or representations of fact, any intending purchaser must satisfy himself as to the correctness of each statement made herein: and the vendor does not make or give, and neither the firm nor any of their employees have the authority to make or give, any representation or warranty whatever in relation to this property. All prices exclude VAT.