Thinking of buying or selling call 020 8599 9911

   

FREEHOLD INVESTMENT FOR SALE WITH REDEVELOPMENT POTENTIAL STPP

DAMINIS MALL, 277A GREEN STREET, LONDON, E7 8LJ

13,076 sq.ft ( 1214.80 m2  )

Key Features

•  Net Initial Yield of 8.27% at the Quoting Price
•  Net ERV £441,500.00
•  Fully Occupied
•  Prominent Position With High Visibility And Footfall

Location

The building is well located at the heart of the vibrant Green Street at its junction with Cromwell Road and directly opposite the new East Shopping Centre making this a corner fronted property with high visibility and footfall. The road itself is world-renowned for its diversity in fashion and has now become a regional centre for retail in food, jewellery and fabrics.

Upton Park Station is within close proximity (0.3 miles south) of the demise and can be reached within approximately 3 minutes by car. From here the both the Hammersmith and City and District Lines service frequent journeys to Central London and throughout.

Accommodation

The building is arranged as a retail arcade over ground, first, second and third floor levels. At ground and first floor levels the accommodation comprises 20 retail units which are all occupied by virtue of 6 year lease agreements. The second floor has recently been subdivided to provide 14 office suites that have been let on yearly license agreements. We understand that there is further work to be undertaken to the third floor to create an additional 11 offices which once fully let along with the existing tenancies in place will yield a net estimated rent of £441,500 accounting for all expenditure. We are advised of the following net internal areas:
Ground Floor3,433 sq.ft ( 318.94 m2  )
First Floor3,482 sq.ft ( 323.49 m2  )
Second Floor3,462 sq.ft ( 321.63 m2  )
Third Floor2,700 sq.ft ( 250.84 m2  )
Total Floor Area13,076 sq.ft ( 1214.80 m2  )

Lease Terms

A tenancy schedule is available upon request.

Price

Rates

Rateable ValueThe rateable values for each individual unit can be found on the VOA website using the postcode of the property. Interested parties are advised to re-direct all further enquiries in respect of their prospective rates liabilities to The London Borough of Newham Council on 020 8430 3250.

Energy Performance Asset Rating

A+
A
B
C
D
78
This is how energy efficient
this building is
E
F
G

VAT

Value Added Tax is applicable in respect of this property.

Service Charge

A service charge is not applicable in respect of this property.

Legal Costs

Each party to bear their own legal costs.

Viewing

Strictly by prior appointment with sole letting agents Taylor Freeman Kataria.

Contact:

Mukund Kataria
Mkataria@cliffords-estates.co.uk

Rajiv Kataria
Rajiv@cliffords-estates.co.uk

GET IN TOUCH

TFK 306, Green Lane, Ilford IG1
020 8599 9911

BUSINESS HOURS

MONDAY - FRIDAY 9:00 a.m. – 5:00 p.m.
SATURDAY & SUNDAY CLOSED

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