Industrial unit for sale
Property description & features
- Tenure: Freehold
- Current total space - 2,443 square foot
- Current configuration: 2 x commerical units plus 1 x 1 bedroom flat
- Planning consent for: 1 x 3 bed flat, 1 x 1 bed flat, plus 1 x commercial unit
- Freehold sale - £1,000,000 with a current income of £36,6000
- Rare E14 commercial/residential site
- Two minutes' walk to Island Gardens DLR Station
- Vacant possession available within three months
- Ideally placed for access to Canary Wharf and Greenwich
Existing status: The freehold building is currently configured as two commercial units on the ground floor plus a one bedroom flat on the first floor, all are self-contained.
The floor areas comprise: Ground floor commercial units – 1,850 square feet and first floor one bedroom flat - 593 square feet
The current income is £36,600 consisting of £21,000 per annum of income from both commercial units (under rented/on licence) plus £15,600 per annum from the one bedroom flat. The commercial tenants occupying by means of Licence agreements. While a standard AST applies to the one bedroom flat. The residential tenancy end date is 31st July 2024. Vacant Possession available within three months.
Planning permission has been gained to retain the existing ground floor commercial unit plus consent to replace the existing one bedroom flat with a three bedroom flat and add a further 1 x one bedroom flat - further details and proposed plans upon request.
Local Authority – London Borough of Tower Hamlets. The subject site has not been elected for VAT and will be sold by way of an Asset Sale as opposed to a Company Sale.
Location
The building is located within two minutes' walk of Island Garden DLR, the Greenwich Foot Tunnel
and the Thames Path – ideally placed for access to Canary Wharf and Greenwich. Located on
Manchester Road at the southern end of the Isle of Dogs, close to the junction with East Ferry Road.
Viewings
By appointment with Stirling Ackroyd
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