An opportunity to purchase a freehold mixed-use property in a prominent location in East London.
The property is a four-storey building comprising a ground floor shop with basement, and a four bedroom plus large sitting room flat above which is vacant. The residential flat measures 1,131 sq ft and has its own dedicated entrance from Brokesley Street. One of the bedrooms has its own kitchenette and en-suite. The commercial premises measures 1,431 sq ft and is let at £XXX per annum with the lease expiring in 2030.
In September 2020 an application under reference PA/20/01403/A1 was submitted for the construction of a two storey rear extension and reconfiguration of the existing dwelling to provide 1 x 1 bedroom flat and 1 x 3 bedroom maisonette. This application was refused and the appeal is pending.
Given the proximity to Queen Mary’s University, the upper floors would make an excellent student let or an HMO for young professionals working in the city.
Location
The site is located in the heart of East London. The property has frontage to Mile End Road, with various shops and takeaways in the immediate vicinity. Queen Mary’s University is 0.6 miles away. Other local amenities include the Queen Elizabeth Olympic Park which is 1.3 miles east of the property. Westfield Stratford is a 10-minute journey by car via the A118.
Mile End Underground Station is a two minute walk from the property and provides access to the Central, Hammersmith & City and District Line services. Bank Station is only three stops from Mile End via the Central Line.
Accommodation
Basement - 55.4 sq m (596 sq ft)
Ground Floor - 77.6 sq mm (835 sq ft)
First Floor - 36.1 sq m (389 sq ft)
Second Floor - 36.9 sq m (397 sq ft)
Third Floor - 34.3 sq m (369 sq ft)
TOTAL - 240 sq m (2,586 sq ft)
Terms
Price - £XXX
Tenure - Freehold
Rateable Value - £XXX
Specification
- Ground floor commercial unit with a five room flat above. Commercial unit let until 2030, passing rent of £XXX per annum.
- Mile End Underground Station is 160 metres from the property and provides access to the Central, Hammersmith & City and District Lines.
- Appeal pending for a 1 x 1 bed and 1 x 3 bed maisonette