Office for sale

St. Annes Street, London E14

Investment Consideration:
Gross Initial Yield: 9.78%
Rental Income: £58,200 p.a.
VAT is applicable to this property
Comprises self-contained ground floor office/retail unit
Property benefits from triple frontage and 2 car parking spaces
Situated approximately midway between Limehouse and Westferry DLR stations, with occupiers nearby including Takeaway`s, Convenience Store, Hair Salon and more.

Property Description:
Comprises triple fronted ground floor unit t/a Office. The property benefits from 2 underground car parking spaces and provides the following accommodation and dimensions:
Ground Floor: 216 sq m (2,328 sq ft)
Open plan office, storage, kitchen, wc

Tenancy:
The property and 2 parking spaces are at present let to Thalgo UK Limited for a term of 10 years from 5th January 2018 at a current rent of £58,200 p.a. And the lease contains full repairing and insuring covenants. Tenant break clause in 2023 not exercised. Deposit held of £17,460.

Tenure:
The office is held on a 999 year lease from 31st March 2017 at a ground rent of £500 p.a. Rent review every 10th anniversary linked to rpi.
The 2 parking spaces are held on a 999 year leases from 1st January 2008 at a ground rent of £50 p.a. Each. Ground rent sum to double every 15 years for the first 105 years of the term.

Location:
Limehouse is located in the heart of East London, within easy reach of both the City & Canary Wharf. The Canary Gateway development is located off Commercial Road (A13) on the junction of St Anne’s Street & St Anne’s Row. The property is situated approximately midway between Limehouse and Westferry DLR stations, with occupiers nearby including Takeaway`s, Convenience Store, Hair Salon and more.