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AGENT'S DETAILS


Well Street, London E9

For sale: £1,100,000.00|2039 Sq Ft

PROPERTY DETAILS

FOR SALE£1,100,000.00
SIZE2039 Sq Ft
ADDRESS52, Well Street, London
TENUREFor Sale Freehold
POSTED ON23rd September 2020

DESCRIPTION

Virtual freehold income producing investment comprising substantial ground floor retail premises with return frontage and main frontage of in excess of 26m 85 ft approximately . The property has been refurbished to a good standard with roller shutters, ceramic tiled floor and refurbished WC. The property is currently let and producing 60,000 pa for a term of 15 years from October 2018. The tenants are currently completing their fit-out and due to open in September 2020 as a nail and beauty supplies wholesaler. We understand the premises have A1, A2, A3, B1, D1 and D2 uses. nbsp Areas: 8.27m x 25.95 m 2039 sq ft 214.52 sq m Tenure: The property is held on a virtual freehold for a term of 999 years from 2018 at a peppercorn ground rent. Lease: The property is let to Euro Nail Supply Limited for a term of 15 years from October 2019 at 60,000 pa plus VAT with 5 yearly rent reviews. There is a 15,000 tenants rent deposit. Financial status of the tenant available upon request. Terms - 1,100,000 is sought for the long leasehold interest, subject to the current tenancy thus reflecting a gross yield of 6 Location: Situated on a good position on Well Street. Well Street A106 runs between Mare Street and Terrace Road. The subject property is situated on the corner of Shore Road. The nearest station is London Fields which is within walking distance.

LOCATION

Location: 52, Well Street, London

Bethnal Green (1.3 miles)

Mile End (1.5 miles)

Bow Road (1.6 miles)

Homerton (0.2 miles)

Hackney Central (0.5 miles)

London Fields (0.5 miles)

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