Property for sale

63-65 Princelet Street, Tower Hamlets E1

Description

Offering an opportunity to secure a retail parade investment, compromising of five multi let commercial units. Each retail unit is a 125 year lease from 2004 on a peppercorn ground rent. Combining a total income of £122,570, a purchase level based on the current income reflects a gross internal yield of 7.67% before purchaser costs, based on the current rental income of £122,570 and a sales price of £1,600,000.

Unit 1a - Tenant 1 - £37,000 (25/11/2016 - 26/11/2026)
Held outside the Security of Tenure provisions of The Landlord and Tenant Act 1954. No further breaks/reviews with a £4,000 rent deposit currently held.

Unit 2b - Tenant 2 - £33,000 - (10/09/2025 - 09/09/2035)
Held outside the Security of Tenure provisions of The Landlord and Tenant Act 1954. A rent review on the 5th anniversary and a £8,250 rent deposit currently held.

Unit 3c - Tenant 3 - £24,000 (16/03/2022 - 15/03/2027)
Held outside the Security of Tenure provisions of The Landlord and Tenant Act 1954. No breaks/reviews with a £6,000 rent deposit currently held.

Unit 4d - Tenant 4 - £10,070 (11/01/2016 - 10/01/2026)
Held outside the Security of Tenure provisions of The Landlord and Tenant Act 1954. No further breaks/reviews and no rent deposit is held.

Unit 5e - Tenant 5 - £18,500 (19/07/2018 - 18/07/2033)
Held outside the Security of Tenure provisions of The Landlord and Tenant Act 1954. No further breaks with a £3,750 rent deposit currently held.

Location

Surrounded by occupiers such as Fora Truman Brewery and the nearby Spitalfields Market. Located in Shoreditch, moments away from Brick Lane the area proves to be a lasting popular location for residents and independent operators.

Connectivity is unmatched, with Shoreditch High Street Station moments away offering connections to further London via the Windrush Line. Alongside Aldgate East, Aldgate and Whitechapel nearby and Liverpool Street Station a short walk away.