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32 Chatsworth Rd 998 sq ft Retail Property London E5 0LP £500,000 (£501.00/sq ft) 6.60% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Located in a popular parade
- Heavy daytime foot traffic
- Short walk to Homerton Train Station
EXECUTIVE SUMMARY
This is an ideal opportunity to secure a long leasehold investment in one of the most desirable commercial and residential locations in Hackney.
The existing lease is £33,000 per annum exclusive, the current 15-year lease expires October 2030, with no rent deposit, no landlord or tenant break options, 3-year rent reviews (the current rent review, due October 2024, is outstanding and due for negotiation). The service charge and business rates (currently £8,483) are paid by the tenant. The annual ground rent of £400 per annum is payable by the long leaseholder. The sale is not subject to VAT.
The current tenant is Keatons Estate Agents Ltd ( https://www.keatons.com ).
32 Chatsworth Road is located in a highly desirable and diverse area. A range of local boutique shops trade in this popular location and a Co-Op supermarket is located in close proximity.
Chatsworth Road connects to Lea Bridge Road (A106) and Homerton High Street (B112). Homerton London Overground Station is within ten minutes' walk.
The existing lease is £33,000 per annum exclusive, the current 15-year lease expires October 2030, with no rent deposit, no landlord or tenant break options, 3-year rent reviews (the current rent review, due October 2024, is outstanding and due for negotiation). The service charge and business rates (currently £8,483) are paid by the tenant. The annual ground rent of £400 per annum is payable by the long leaseholder. The sale is not subject to VAT.
The current tenant is Keatons Estate Agents Ltd ( https://www.keatons.com ).
32 Chatsworth Road is located in a highly desirable and diverse area. A range of local boutique shops trade in this popular location and a Co-Op supermarket is located in close proximity.
Chatsworth Road connects to Lea Bridge Road (A106) and Homerton High Street (B112). Homerton London Overground Station is within ten minutes' walk.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Shopfront
Property Size
998 sq ft
Costar Property Class
B
Year Built
1950
Price
£500,000
Price per sq ft
£501.00
Yield
6.60%
NOI
£33,000
Tenancy
Single
Number of Floors
3
Plot ratio
0.20
Total Plot Size
0.11 ac
AMENITIES
- Roller Shutters
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NEARBY MAJOR RETAILERS
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32 Chatsworth Rd
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