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495 Kingsland Road, Dalston, London, E8 4AU
1,859 Sq Ft / Other
Withdrawn - Last updated: 19 August 2024
Summary
This impressive mixed-use Freehold is fully let and produces a gross annual income of c. £62,120 per annum, with the potential to increase the commercial rent, by virtue of agreement during the COVID-19 period. The property also has a pending planning application for the - “Erection of second-floor rear extension above the two-story outrigger, mansard roof extension, to form an additional residential unit, and increased commercial floorspace space at ground floor level.” (Ref: 2021/3733 - London Borough of Hackney) creating an appealing add-value profile.
Key Points
Handsome mid-terrace Freehold.Fully renovated throughout.Development potential (STPP).Bright 3-bedroom duplex on AST.E-Class space on a 30-year term.Excellent income - c. £62,120 PAX.Low capital value of £618
Occupational Commercial Tenancy:
The E-Class unit is currently let to Oz Burger Ltd, for a term of 30 years from 2020. The rent passing is £29,000 per annum with open market rent reviews & break clauses occurring every 5-years. The lease falls outside of the provisions of the Landlord & Tenant Act 1954. The fit-out throughout is impeccable and benefits from a full, newly fitted extraction system.
ACCOMMODATION: Total – 761 sq. ft. (70.7 m²)
Residential AST:
The impressive 3-bedroom, two-bath duplex is arranged over the second & third floors and has been recently refurbished to an excellent standard. The unit is let on an AST and generates £2,760 per calendar month (£33,120 per annum).
ACCOMMODATION: Total – 969 sq. ft. (90. m²)
Location
The property enjoys an excellent location in the heart of Dalston on Kingsland Road. The area is well serviced by public transport with Dalston Junction approximately 1 minutes' walk away providing fast access into Central London and in East/Westerly directions. There are also several excellent bus routes servicing the property. The connectivity is demonstrated by a high PTAL score of 6A.Terms
Title and Tenure: The Freehold is offered for sale subject to the occupying tenancies. Title Number: LN94815.
Rateable Value: Interested parties are advised to make their own enquiries.
Accommodation: Total – 1,859 sq. ft. (172.7 m²)
Method of Sale: The site will be sold by way of private treaty.
VAT: We understand the property is not elected for VAT.
Viewings: Strictly through the sole agents, Winkworth Commercial on 020 7355 0285 and made by prior appointment. Under no circumstances should any direct approach be made to any of the occupational tenants or staff.
VAT: To be confirmed.
EPC: Residential - E (36) / Commercial C (67)
Proposal: We are instructed to invite offers in the region of £1,150,000.
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