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Whitecross Street, London, EC1Y

Guide Price
£1,100,000

£791.37 per sq ft

Business rates & charges may apply

Dexters Development & Investment, North London
SIZE AVAILABLE

1,390 sq ft

129 sq m

SECTOR

Mixed use property for sale

Floor Plan - ShopFloor Plan - Flat A
4

Key features

  • Unbroken freehold
  • Mixed use investment
  • Fully let
  • Ground and lower ground floor hairdressers
  • 3 studio flats above
  • City location between Barbican and Old Street

Description

Lower Ground and Ground Floor - Class E commercial unit measuring 33.9 square metres

First floor - Residential studio apartment  - 32.3 square metres

Second floor - Residential studio apartment  - 30.2 square metres

Third floor - Residential studio apartment  - 32.7 square metres


The current rental income is £74,400 per annum (Water rates are included in the tenants rent as there is one water meter for the building which the owner pays for, and the commercial unit contributes 30% of this cost plus 30% of the building insurance) which represents a gross 6.76% yield. The ERV on the building is £81,000 which represents a gross 7.36% yield from the guide price.

We have estimated that each studio apartment could be sold for £400,000 on the open market. Please see the downloads section for a full tenancy schedule and price appraisal.

Whitecross Street is a busy street on the fringe of the City of London and ideally located between Barbican and Old Street. The local area provides a wealth of amenities given the central London location and is popular with investors given the proximity to central London, City of London and the ever-trendy Old Street.

Tenure
The sale is for the unbroken freehold.

Energy Performance Certificates

EPC - Flat AEPC - Flat BEPC - Flat CEPC - Commercial

Whitecross Street, London, EC1Y

Approximate location
Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Barbican Station0.3 miles
  • Moorgate Station0.3 miles
  • Old Street Station0.3 miles

About Dexters Development & Investment, North London

Dexters Maida Vale, 298 Elgin Avenue, London, W9 1JS

London covered

Our dedicated team of specialists have a well-established track record of achieving clients more than the market value for land, development and investment projects across the capital. Members of RICS, our qualified chartered surveyors uphold their reputation for integrity and professionalism.

Based in one of the Dexters ‘Centres of Excellence, our experts focus solely on development services for clients including Croudace Homes, Barratt Homes, Berkeley Group, Crest Nicholson, Metropolitan Housing, Henley Homes and Ballymore Group.

Landowner support

We guide land and property owners on the development potential of their assets and can help every step of the way through the planning minefield whilst providing guidance on the type of development you are likely to achieve. Working with our third-party planning and design team we can help you to visualise the concept, and assess the costs to build and value the end asset.

Land disposal

We can advise on the value of land, and explore development opportunities. Once we have assessed both the current value and the development value we can guide you on the best route to market.

Land acquisition

Our expert teams deal with development sites that are on the market, along with those that are being marketed “off market” and low-key.. If you are looking to invest or develop in these types of projects we can help source suitable opportunities, assess their future value and ultimately help you to acquire them.

Investment acquisition / disposal

We acquire and sell all types of investment assets from portfolio sales, whole block pre-sales, HMO's and mixed use (residential/commercial) Freeholds in the High Street. Whether you are looking to buy or sell an investment property we can help with valuations, comparable evidence, finding tenants, full management and block management..

New Homes sales & marketing

Whether in London or overseas, we can advise developers and housing associations on the unit mix, pricing, legislation, finance and buyer profiles.

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 113WhitecrossStreet. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Dexters Development & Investment, North London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data ©OpenStreetMap contributors.

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