Office for sale47-49 Tudor Road, London, E9
4,725 sq. ft.
- 4,725 sq ft (438 sq m)
- Use class orders: B1 Business
- Net initial yield of 6.25%
- Exposed brickwork
- Large windows with excellent natural daylight
- Generous floor to ceiling heights
- New 999 year long-leasehold interest
- Freehold interest available
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.
London Fields (0.3m) London Overground
Cambridge Heath (0.6,) London Overground
Bethnal Green (0.9m) Central Line
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.
Approximate Floor Areas
Ground floor - 4,725 sq. ft.- 439 sq. m.
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.
The premises are offered for sale on the basis of a new 999 year long-leasehold interest, subject to a peppercorn rent.
The price reflects a Net Initial Yield of 6.25% after purchasing costs of 6.8%.
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.
More information from this agent
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