Executive Summary
- A desirable multi-let freehold mixed-use investment opportunity in the heart of Dalston, East London.
- Comprising 1 x commercial unit and 5 x self-contained apartments arranged over four floors.
- Approximately 0.2 miles from Dalston Kingsland station and 0.4 miles from Dalston Junction station.
- Offers are invited in excess of £1,600,000, which represents a gross yield of 6.2%, from a combined rental income of £99,240 per annum.
- This equates to an approximate capital value of £405.17 per square foot of the net internal area.
Location
The property is situated within the popular inner London district of Dalston which is 4 miles north-east of Charing Cross in the London Borough of Hackney. The immediate vicinity is occupied by a range of independent and well-established national businesses which provides a vibrant environment which is popular area with young professionals working in Central London. The area has benefited from significant regeneration and gentrification in recent years and is now one of the most desirable places to live and invest in London.
The property lies on the eastern side of Stoke Newington Road (A10), between the junctions of Shacklewell Lane and Miller’s Terrace. The A10 is one of the main arterial roads out of London that begins in Central London and travels north through Cambridge and ends in King’s Lynn. To the east is the A12 which is 2.1 miles away and the A1 is 1.4 miles to the West.
The area is well served by public transport. Dalston Kingsland is 0.2 miles away and Dalston Junction is 0.4 miles away, both of which are on the London Overground. There are numerous and regular bus services that facilitate the area, providing access to Central London and all other local points of interest.
Please note all distances given are approximate only.
Description
The property is arranged over four floors. To the front there is a commercial unit arranged over ground and lower ground floors, and then there are 5 self-contained flats built above and behind. All parts are currently let out and more particularly described as in table (see images).
Terms
Offers are invited in excess of £1,600,000 for the freehold interest, which represents a gross yield of 6.2%, subject to contract. This equates to an approximate capital value of £405.17 per square foot of the net internal area.
VAT
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.
Tenure
The freehold interest is to be sold subject to the existing tenancies.
Data Room
A data room has been set up and access is available on request.
Viewings
Viewings are strictly by appointment through sole agents Harston&Co.
