Available
London E1 – Retail Premises
17/19 Umberston Street, Tower Hamlets, London E1 1PYVirtual Freehold Ground Floor Retail Premises with Large Basement
Price
£365,000
Rent P.A.
£30,000
Yield
8.22%
Tenure
Leasehold
Lease Term
10 Years
Years Left on Lease
7y 4m
Area
1,648 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises retail premises arranged over ground floor and basement
- Forming part of a newbuild (2020) residential block
- Situated just off Commercial Road with occupiers nearby including takeaways, barbers, butchers, convenience stores and many more
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
Comprises ground floor retail premises with ancillary accommodation at basement, providing the following accommodation and dimensions:
Ground Floor: 57.50 sq m (620 sq ft)
Open plan retail
Basement: 95.50 sq m (1,028 sq ft)
Ancillary, Storage
Total area size: 153 sq m (1,648 sq ft)
Ground Floor: 57.50 sq m (620 sq ft)
Open plan retail
Basement: 95.50 sq m (1,028 sq ft)
Ancillary, Storage
Total area size: 153 sq m (1,648 sq ft)
Tenancy Description
The property is at present let to ASE Textile Limited (with personal guarantee) for a term of 10 years from 7th April 2022 at a current rent of £30,000 p.a. and the lease contains full repairing and insuring covenants. Open market rent review in April 2025, 2028 and 2031. No breaks. Deposit held of £7,500.
Tenure:
Long Leasehold. Held on a 999 year lease from 4th March 2021 at a ground rent of peppercorn.
Tenure:
Long Leasehold. Held on a 999 year lease from 4th March 2021 at a ground rent of peppercorn.
Tenancies & Accommodation
Location Description
The property is located in the heart of Whitechapel on Umberston Street, London, E1. It is surrounded by Commercial Road (A13) to the north and The Highway (A1203) to the south. The area benefits from excellent transport links, with Shadwell London Overground Station just 750m away, and Aldgate East and Whitechapel underground stations within easy walking distance. There are multiple bus routes, including night buses, along Commercial Road. The immediate vicinity consists of a mix of high-density housing, offices, and independent retailers.
