63-65 Princelet Street, Tower Hamlets, E1 5LP
Size
4,903
Tenure
Leasehold
EPC
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Parking
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- Primary use
- Other
No floor / site plan
Key features
- Five Multi Let Retail Units
- Combining A Total Income Of £122,570 PA
- Excellent Connectivity with Liverpool Street Nearby
- Gross Initial Yield (Before Purchaser Costs) of 7.67% (Based Upon Rental Income of £122,570 PA & A Sale Price of £1,600,000)
- Leasehold Tenure of Each Retail Unit - 125-year lease from 25/03/2004
- Freehold Also Available For Sale - Details On Application
Description
Offering an opportunity to secure a retail parade investment, compromising of five multi let commercial units. Each retail unit is a 125 year lease from 2004 on a peppercorn ground rent. Combining a total income of £122,570, a purchase level based on the current income reflects a gross internal yield of 7.67% before purchaser costs, based on the current rental income of £122,570 and a sales price of £1,600,000.
Unit 1a - Tenant 1 - £37,000 (25/11/2016 - 26/11/2026)
Held outside the Security of Tenure provisions of The Landlord and Tenant Act 1954. No further breaks/reviews with a £4,000 rent deposit currently held.
Unit 2b - Tenant 2 - £33,000 - (10/09/2025 - 09/09/2035)
Held outside the Security of Tenure provisions of The Landlord and Tenant Act 1954. A rent review on the 5th anniversary and a £8,250 rent deposit currently held.
Unit 3c - Tenant 3 - £24,000 (16/03/2022 - 15/03/2027)
Held outside the Security of Tenure provisions of The Landlord and Tenant Act 1954. No breaks/reviews with a £6,000 rent deposit currently held.
Unit 4d - Tenant 4 - £10,070 (11/01/2016 - 10/01/2026)
Held outside the Security of Tenure provisions of The Landlord and Tenant Act 1954. No further breaks/reviews and no rent deposit is held.
Unit 5e - Tenant 5 - £18,500 (19/07/2018 - 18/07/2033)
Held outside the Security of Tenure provisions of The Landlord and Tenant Act 1954. No further breaks with a £3,750 rent deposit currently held.
Location
Surrounded by occupiers such as Fora Truman Brewery and the nearby Spitalfields Market. Located in Shoreditch, moments away from Brick Lane the area proves to be a lasting popular location for residents and independent operators.
Connectivity is unmatched, with Shoreditch High Street Station moments away offering connections to further London via the Windrush Line. Alongside Aldgate East, Aldgate and Whitechapel nearby and Liverpool Street Station a short walk away.
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- Listed building
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- Tenure
- Leasehold
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An Energy Performance certificate helps you understand the current energy efficiency of a property.
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Brochure
63-65 Princelet Street, Tower Hamlets, E1 5LP
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Disclaimer - Property reference 366964-1. 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 Stirling Ackroyd, Commercial. 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.