A modern restaurant unit arranged over ground floor and basement totalling approximately 246.81 sq m (2,657 sq ft) forming part of a larger, modern residential development. Externally there is additional terrace seating to the front. The unit currently trades as an Italian Restaurant.
Location
Wapping is a district in East London in the London Borough of Tower Hamlets. It is situated between the north bank of the River Thames and the ancient thoroughfare simply called The Highway. Wapping's proximity to the river has given it a strong maritime character.
21 Wapping Lane was developed by Ballymore in 2012 and forms part of a larger residential development of 382 flats. The first major new building in Wapping for ten years, it brought a modern intervention to one of London’s oldest maritime neighbourhoods in a way that is sensitive to the area’s history soaked atmosphere.
The property is located on the east side of Wapping Lane at its junction with Cobblestone Square opposite popular Tobacco Dock. Shadwell and Wapping overground railway stations are both within a short walking distance.
Accommodation
Size - 246.81 sq m (2,657 sq ft)
Terms
Tenure - Leasehold for a term of 999 years from completion at a fixed ground rent of £100 per annum
Guide Price - £675,000
VAT - VAT is applicable to this sale, please refer to the legal documents for further details.
Tenants - Il Bianco Limited t/a Il Bacino - lease for 15 years from 27/02/2017 (1) - Rent -£55,000 (2) (3) - Rent reviews 5 yearly
(1) A rent deposit of £11,250 is held
(2) The rent reflects £20.70 per sq ft
(3) The rent increased from £45,000 pa to £55,000 with effect from February 2022
Specification
- Freehold retail and residential investment
- Asset management opportunities
- Established tenant and trading position
- Popular and affluent South West London suburb
- Close to Fulham Broadway and Parsons Green underground stations
- Future development potential of the upper floors (subject to consents)
- Ground floor let until 2031 (1)