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Dalston Works, 69-73 Dalston Lane & Martel Place

For sale: £14,770,000.00|33,080 Sq Ft|Office, Offices

Property details

FOR SALE£14,770,000.00
SIZE33,080 Sq Ft
ADDRESSDalston Works, 69-73 Dalston Lane & Martel Place, London, E8 2FQ
TYPEOffice, Offices
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON19th November 2021

Description

Key Points

  • Virtual Freehold.
  • A highly sought-after multiple award winning Waugh Thistleton Architects designed office campus completed in June 2017, providing contemporary commercial and residential accommodation.
  • Located in the heart of fashionable Dalston, one of London’s most up and coming districts.
  • Impressive 33,080 sq ft (3,073 sq m) campus of mixed use office, leisure and retail accommodation.
  • Highly efficient and flexible units benefiting from an abundance of natural light.
  • One of the world’s largest CLT structures achieving a ‘BREEAM Excellent’ meeting institutional grade ESG targets.
  • Multi-let to seven tenants producing a topped up passing rent of £945,788 per annum reflecting a low average rent of £28.59 per sq ft.
  • The WAULT to expiry is 8.44 years and 4.25 years to break on the contracted income.
  • Offers are invited in excess of £14,770,000 subject to contract and exclusive of VAT. This reflects a capital value of £446 per sq ft and a highly attractive NIY of 6.00% assuming purchaser costs of 6.73%.
  • Summary

    Highly sought after mixed use campus for sale in the heart of Dalston, with a WAULT of 4.25 years to break & 9.44 years to expiry.

    Description

    Designed by renowned local Waugh Thistleton Architects, Dalston Works was completed in June 2017. The development was the world’s largest CLT Carbon Neutral structure at the time, comprising 122 residential units and comprises 33,080 sq ft (3,073.24 sq m) of high specification mixed use accommodation. Centered around an attractive landscaped courtyard, the retail, leisure and office accommodation is split into five self contained units. The principal office block provides 13,831 sq ft (1,284.94 sq m) arranged over ground and four upper floors with its own dedicated passenger lift. The office accommodation benefits from a large private terrace. The remaining four units are arranged over ground or ground and lower ground levels. All units benefit from excellent floor to ceiling heights and an abundance of natural light.

    Location

    Dalston Works is located on a prominent position on Martel Place in the heart of Dalston and is a short five minute walk from Dalston Junction, Dalston Kingsland Road and Hackney Downs Overground Station.

    Terms

    Offers are invited in excess of £14,770,000 subject to contract and exclusive of VAT. This reflects a capital value of £446 per sq ft and a highly attractive NIY of 6.00% assuming purchaser costs of 6.73%

    Location

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    Location: Dalston Works, 69-73 Dalston Lane & Martel Place, London, E8 2FQ

    Bethnal Green (1.5 miles)

    Highbury & Islington (1.5 miles)

    Arsenal (1.7 miles)

    Hackney Downs (0.3 miles)

    Dalston Kingsland (0.3 miles)

    Hackney Central (0.5 miles)

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