£590,000
(£215.01/sq. ft)
Property for sale1 Cobblestone Square, London E1W
2,744 sq. ft
EPC Rating: D
Freehold
About this property
Commercial restaurant investment
Long established tenant
Next to Tobacco Dock in Wapping
Outside seating
Let until 2032
Estimated Rates Payable: £26362.5
Description
This unit occupies a prominent ground floor corner position with outside seating onto a piazza overlooking Tobacco Dock and ancillary basement.
Location
Situated in the heart of Wapping, this property benefits from its proximity to London Dock and Tobacco Dock, two iconic landmarks in East London. The area is experiencing a cultural renaissance, transforming from its industrial past into a vibrant hub for entertainment, dining, and residential living. Wapping has become a hotspot for nightlife and cultural events. Tobacco Dock, a Grade I listed warehouse, hosts various events and conferences, adding to the area's vibrancy.
Proposal
Offers sought at £590,000 + VAT for a virtual freehold (999 years from 2020 at a peppercorn rent). A sale at this level will produce a Net Initial Yield of 8.9% and a capital value of £215 per sq.ft.
Anti Money Laundering
In accordance with the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, the purchaser will be required to complete identity checks and provide evidence of the source of funds.
This unit occupies a prominent ground floor corner position with outside seating onto a piazza overlooking Tobacco Dock and ancillary basement.
Location
Situated in the heart of Wapping, this property benefits from its proximity to London Dock and Tobacco Dock, two iconic landmarks in East London. The area is experiencing a cultural renaissance, transforming from its industrial past into a vibrant hub for entertainment, dining, and residential living. Wapping has become a hotspot for nightlife and cultural events. Tobacco Dock, a Grade I listed warehouse, hosts various events and conferences, adding to the area's vibrancy.
Proposal
Offers sought at £590,000 + VAT for a virtual freehold (999 years from 2020 at a peppercorn rent). A sale at this level will produce a Net Initial Yield of 8.9% and a capital value of £215 per sq.ft.
Anti Money Laundering
In accordance with the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, the purchaser will be required to complete identity checks and provide evidence of the source of funds.
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