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.
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.
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
The property is not elected for VAT.
|FLOOR||GIA sq. ft.|
|Total||2,097 sq. ft.|
The property has a rateable value of £39,000.
Each party to be responsible for their own legal costs incurred in the transaction.
The property is registered under freehold title number 349446 and a copy of the title deed and plan is available upon request.
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.