£9,500,000
(£604.90/sq. ft)
Property for saleAlie Street, Aldgate, London E1
15,705 sq. ft
Freehold
About this property
Location
The property occupies a prime City fringe position within the London Borough of Tower Hamlets, situated on the south side of Alie Street and the north side of North Tenter Street. This strategic location bridges the dynamic commercial hubs of Aldgate and Whitechapel, placing it on the doorstep of the City of London while retaining the vibrancy and character of the East End.
The property is ideally positioned just moments from Aldgate High Street, providing immediate access to a wide range of shops, cafés, restaurants, and amenities. A Sainsbury’s Local is conveniently located less than 100 metres away at the junction of Alie Street and Mansell Street.
With excellent transport connectivity, the property is within walking distance of multiple key stations — including Aldgate, Aldgate East, Tower Hill, Tower Gateway, and Whitechapel offering swift access into the City, Canary Wharf, and wider London. Additionally, the area benefits from its proximity to cultural and lifestyle destinations such as Old Spitalfields Market and Brick Lane, enhancing its appeal for both occupiers and investors.
Description
Built around 1800 as a four-storey warehouse/showroom for diamond merchant Baron Lyon De Symons, the building later served as municipal offices and a socialist club called the “Workers’ circle.” It was converted into residential flats in 1998, with additional conversions completed in 2014.
The property is internally arranged to provide a total of 13 flats (1 x one bed; 6 x two bed; 6 x three bed). It should be noted that three flats have been sold off on long leases. It is arranged over lower ground, ground and four upper floors whilst 12 North Tenter Street is arranged over ground and five upper floors. The buildings are interconnected with 11 flats accessed via the building’s central core staircase and lift situated in the main entrance on Alie Street. Flat 1 has its own private entrance via external stairs from Alie Street and Flat 4 benefits from its own private entrance on North Tenter Street.
The property also benefits from a large communal roof terrace with far reaching views across London.
Tenancies
Three flats have been sold off on long leases. The remaining 10 unsold flats are currently let on a commercial lease contracted outside the 1954 Act. The lease expires on 30th June 2030 and is subject to an initial passing rent of £463,500 per annum. The lease includes annual fixed increases, producing the following stepped rents:
Y2 - £477,500
3 - £491,700
4- £506,451
5- £522,000
Connectivity
tenant profile
Anglo American Educational Services (aaes) is a well-established London-based education, accommodation, and internship provider, trusted for its quality, regulatory compliance, and personalised services tailored o international students and partners. With over five decades of trading history, this established international educator and London-based programme coordinator is recognised for its enduring contribution to global education. Registered in London (No. 01302471) since 1977, aaes employs around 100 staff and has an annual turnover circa £20 million range.
Directors include Peter Michael Lowy (founder/ceo), Simon Perkins, and Stephen Lowy. Aaes originally took a lease in 2018, which was varied in 2021 and has recently signed another reversionary term until 2030. None of their breaks have been exercised, showing real commitment to the location and the premises.
Service charge
Full details of the service charges are available on request.
Tenure
Freehold subject to existing long leases and the occupational commercial lease.
Asking terms
Offers in excess of £9,500,000 are invited, a purchase at this level will provide a niy of 4.28% when allowing for graduated costs
Running Yield profile:
Year 2 = 4.97%, Year 3 = 5.11%, Year 4 = 5.27% & Year 5 = 5.43%.
Aml
In accordance with Anti-Money Laundering Regulations, we shall require additional information from the purchaser/tenants so that an online veri?cation can be undertaken.
Viewing
By appointment only via sellers sole agent: Willmotts Chartered Surveyors T:
The property occupies a prime City fringe position within the London Borough of Tower Hamlets, situated on the south side of Alie Street and the north side of North Tenter Street. This strategic location bridges the dynamic commercial hubs of Aldgate and Whitechapel, placing it on the doorstep of the City of London while retaining the vibrancy and character of the East End.
The property is ideally positioned just moments from Aldgate High Street, providing immediate access to a wide range of shops, cafés, restaurants, and amenities. A Sainsbury’s Local is conveniently located less than 100 metres away at the junction of Alie Street and Mansell Street.
With excellent transport connectivity, the property is within walking distance of multiple key stations — including Aldgate, Aldgate East, Tower Hill, Tower Gateway, and Whitechapel offering swift access into the City, Canary Wharf, and wider London. Additionally, the area benefits from its proximity to cultural and lifestyle destinations such as Old Spitalfields Market and Brick Lane, enhancing its appeal for both occupiers and investors.
Description
Built around 1800 as a four-storey warehouse/showroom for diamond merchant Baron Lyon De Symons, the building later served as municipal offices and a socialist club called the “Workers’ circle.” It was converted into residential flats in 1998, with additional conversions completed in 2014.
The property is internally arranged to provide a total of 13 flats (1 x one bed; 6 x two bed; 6 x three bed). It should be noted that three flats have been sold off on long leases. It is arranged over lower ground, ground and four upper floors whilst 12 North Tenter Street is arranged over ground and five upper floors. The buildings are interconnected with 11 flats accessed via the building’s central core staircase and lift situated in the main entrance on Alie Street. Flat 1 has its own private entrance via external stairs from Alie Street and Flat 4 benefits from its own private entrance on North Tenter Street.
The property also benefits from a large communal roof terrace with far reaching views across London.
Tenancies
Three flats have been sold off on long leases. The remaining 10 unsold flats are currently let on a commercial lease contracted outside the 1954 Act. The lease expires on 30th June 2030 and is subject to an initial passing rent of £463,500 per annum. The lease includes annual fixed increases, producing the following stepped rents:
Y2 - £477,500
3 - £491,700
4- £506,451
5- £522,000
Connectivity
tenant profile
Anglo American Educational Services (aaes) is a well-established London-based education, accommodation, and internship provider, trusted for its quality, regulatory compliance, and personalised services tailored o international students and partners. With over five decades of trading history, this established international educator and London-based programme coordinator is recognised for its enduring contribution to global education. Registered in London (No. 01302471) since 1977, aaes employs around 100 staff and has an annual turnover circa £20 million range.
Directors include Peter Michael Lowy (founder/ceo), Simon Perkins, and Stephen Lowy. Aaes originally took a lease in 2018, which was varied in 2021 and has recently signed another reversionary term until 2030. None of their breaks have been exercised, showing real commitment to the location and the premises.
Service charge
Full details of the service charges are available on request.
Tenure
Freehold subject to existing long leases and the occupational commercial lease.
Asking terms
Offers in excess of £9,500,000 are invited, a purchase at this level will provide a niy of 4.28% when allowing for graduated costs
Running Yield profile:
Year 2 = 4.97%, Year 3 = 5.11%, Year 4 = 5.27% & Year 5 = 5.43%.
Aml
In accordance with Anti-Money Laundering Regulations, we shall require additional information from the purchaser/tenants so that an online veri?cation can be undertaken.
Viewing
By appointment only via sellers sole agent: Willmotts Chartered Surveyors T:
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