Income Producing Shop

& 4 Self Contained Flats

(1 x 2 bed & 3 x 1 beds)

98 MILE END ROAD

LONDON E1 4UN

Other Details

Accomodation

ACCOMMODATION: Comprising a four storey plus basement, mixed use commercial & residential property laid-out to provide a ground floor shop with ancillary storage, kitchen & customer seating in the basement , 1 x2 bed & 3 x 1 bed flats located over Lower Ground, 1st, 2nd & 3rd floors. All parts of the demise benefit from having their own self-contained facilities & are separately metered & assessed for Business Rates & Council Tax respectively. EXISTING TENANCIES AND RENTAL INCOMES DERIVED: Shop. A FRI Lease was granted in July 2008 for a term of 20 years. The 2020 rent review was recently settled , effective from 21st August 2021 at a passing rent of £22,000pax. There is one final rent review due on 21st July 2025. There are no tenant Breaks. The shop trades as Sushi & Thai Express Restaurant & take-away. Residential. Comprising 4 flats all of which are Let, producing an income of £60,759.96 per annum. When fully Let the combined rental income will be £82,759.96pax. PRICE: Offers are invited in the region of £1,400,000. TENURE: Freehold to include the benefit of the above tenancies , rental income derived & vacant possession where applicable. SALIENT INFORMATION: All flats are separately metered. Each part of the property is separately assessed for rates. Rent deposits equal to 6 weeks rent are held in respect of each residential Letting & 3 months in respect of the shop. LEGAL COSTS: Each party are to be responsible for their own legal costs borne in this transaction.

Amenities

City of London Fringe Within a short walk of The Royal London Hospital & Whitechapel Station. Self-contained & separately metered throughout Rare Freehold opportunity

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