Commercial development for sale
Property description & features
- Tenure: Freehold
- Retail & residential investment & repositioning opportunity in Whitechapel
- Prominent east London location within close proximity of Whitechapel Station (Elizabeth, District and Hammersmith & City lines, and Overground services)
- Situated within walking distance of Queen Mary University of London, and the Royal London Hospital
- Mixed use investment and development opportunity comprising 14 residential apartments totalling 10,045 sq ft and 3 retail units totalling 3,829 sq ft
- Total combined floor area of 14,367 sq ft
- Retail income of £136,000 per annum from three independent retailers with a WAULT to break of 12.69 years and WAULT to expiry of 15.80 years
- Residential income of £335,100 per annum with flats leased on ASTs with 2 months prior written notice to break
- Combined passing income of £471,100 per annum
- Further vacant, & un utilised secure car park to the rear
- Planning permission granted for the redevelopment of part of the yard to deliver 3 further apartments (1x1 Bed, 2x2 Bed) and the creation of additional rear balconies for the existing accommodation
The property comprises two interconnecting buildings. 59-65 Mile End Road is a post-war built block arranged over basement, ground and three upper floors. 67 Mile End Road is an attractive Victorian building arranged over basement, ground and three upper floors that occupies a prominent corner position. To the rear of the property is a large secure car park.
Location
The area benefits from excellent transport links to The City, West End, Canary Wharf, and north into Shoreditch. The building is situated an equidistant 5 minute walk from both Whitechapel and Stepney Green stations, whilst Bethnal Green station is a 12 minute walk to the north, providing access to the Elizabeth, Hammersmith & City, District, and Central lines, and Overground services.
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Energy Performance data and Internal floor area
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