Waterson Street, Shoreditch E2 8HT
Offers in the region of £8,000,000
The property comprises a 5-storey unbroken mixed-use building consisting of commercial units (B1 Use Class) at ground and first floors with residential apartments (C3 Use Class) above.
The ground and first floors comprise 7 self-contained office units extending to approximately 4,471 sq.ft. NIA. The second, third and fourth floors comprise 11 self-contained apartments (5 x 1 bedroom and 6 x 2 bedroom units) extending to approximately 6,549 sq.ft. NIA.
The building is of solid laminate timber construction and was completed in 2005.
The property is bounded by mixed-use properties to the east and south, with a car park to the west and a public garden to the north.
The property occupies a prominent position on the corner of Waterson Street and Long Street in Shoreditch, within the London Borough of Hackney. Shoreditch is one of London’s most popular areas for both living and working.
The immediate area comprises a mixture of residential and commercial uses, with numerous fashionable shops, bars, restaurants and offices available nearby.
The nearest stations are Hoxton (Overground), Shoreditch High Street (Overground) and Old Street (Northern Line) all of which are within short walking distance of the property.
There is potential for ongoing asset management, break up and reversionary rent increase.
Further information on the potential ERV and break up values can be found in the Sales Report within our dataroom.
The property is to be sold freehold, subject to the existing tenancies remaining in-situ.
The property is not elected for VAT.
Offers are invited in the region of £8,000,000. A purchase at this level reflects a capital value of £725 per sq.ft. and a Net Initial Yeild of 4.4% when accounting for 6.7% purchase costs.
Further information including tenancy agreements, floor plans and legal documents are available within our dataroom using the access code ‘Fairmule’.
Disclaimer - Kingsbury on its own behalf and on behalf of the Owner / Landlord of this property whose agent Kingsbury is, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: 06869268.
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- 11 self-contained apartments (5 x 1 bedroom & 6 x 2 bedroom units) and 7 B1 office units extending to circa 11,020 sq.ft. NIA in total
- Fully let producing £374,671.60 per annum, offering potential for asset management and future rental growth
- Highly sought after location within Shoreditch, in close proximity to Hoxton and Shoreditch High Street Overground Stations
- Offers are invited in the region of £8,000,000 which reflects £725 per sq.ft. and 4.4% NIY
To discuss this opportunity further, please contact Jordan Oldfield or Keir Goldstein on 020 7183 2529