- Freehold commercial investment with a current passing rent of £26,000 per annum
- Prominent corner location in Shoreditch on Hackney Road
- Approximately 736 square feet (68.37 square metres)
- Gross yield of 5.7%
- EPC Rating - TBC
The property is located in a highly desirable part of Shoreditch on Hackney Road (A1208) at the junction with Waterson Street and Columbia Road. Shoreditch is London’s most desirable creative district and located in the London Borough of Hackney. Shoreditch High Street railway station which is on the London Overground line, is 0.5 miles away. London Liverpool Street station providing both Underground and National Express East Anglia Railway line services is 0.8 miles away. The area is well served by buses.
Please note all distances given are approximate only.
A prominent ground-floor corner commercial unit with good return frontage which has most recently been occupied by a hairdresser. The property measures 736 square feet (68.37 square metres) and benefits from a w/c and shutters.
Please note that the size given is approximate only. All interested parties are advised to rely on their own inspection and survey.
The property is currently let to Butchers Salon (www.butcherssalon.com). The lease commenced February 2010 and expires February 2025. The current passing rent is £26,000 per annum and the most recent review date was February 2020. We are awaiting confirmation as to whether or not this has been settled. It is understood that the tenant is not currently in occupation and is marketing the lease for assignment.
The freehold interest is to be sold subject to the existing tenancy. There are 5 flats in the upper parts all of which have been sold off.
The property is to be sold subject to the existing tenancy and offers are invited in excess of £450,000. This represents a gross yield of 5.7% at the guide price. All negotiations are strictly subject to contract.
The building is elected for VAT, although we expect the sale can be treated as a transfer of a going concern (TOGC). Interested parties are advised to seek appropriate professional advice on this point.