Well Street, London E9

  Ref 024318    

Well Street, London E9

Ref 024318

  • £1,100,000  

    For Sale

    £1,100,000  

    For Sale

  • Description

    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.

    Gallery

    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.

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    For Sale

    £1,100,000