Tudor Road is located immediately east of Mare Street in the heart of Hackney’s popular London Fields district. In addition, fashionable Broadway Market is located nearby with its superb selection of restaurants and cafes. The area has become popular amongst young professional residents and a variety of office occupiers.
The property is a converted warehouse building of brick construction and is arranged over five floors with the offices at ground floor level and nineteen apartments on the four upper floors.
The office space benefits from exposed brickwork, large windows and generous floor to ceiling heights.
The property is let to FormFormForm Ltd at £113,400 per annum (£24 per sq. ft.).
The lease is for ten years from 09.01.2017, subject to a tenant only break clause at the fifth year.
The lease is subject to sixth month’s rent free from the lease commencement date.
The lease is contracted outside the Landlord and Tenant Act 1954 (Part II).
The tenant trades as Sugru and further information can be found on their website www.sugru.com
They have been in occupation since 2007.
The tenant is a young fast-growing trendy company
Dun + Broadsheet credit rating of 2A2, reflecting a lower than average business failure.
|Ground floor||4,725 sq. ft.||439 sq. m.|
Each party to be responsible for their own legal costs incurred in the transaction.
The premises are offered for sale on the basis of a new 999 year long-leasehold interest, subject to a peppercorn rent.
The freehold interest is available with the benefit of income from the ground rents of 19 apartments, equating to £5,700 pa.
Further information on request.
The price reflects a Net Initial Yield of 6.25% after purchasing costs of 6.8%.
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.