FOR SALE MIXED FREEHOLD RARELY AVAILABLE WITH POTENTIAL FOR FURTHER DEVELOPMENT TOTAL COMBINED NET INTERNAL AREA (1,453 FT² / 135 M 2 )

Transcription

1 FOR SALE MIXED FREEHOLD RARELY AVAILABLE WITH POTENTIAL FOR FURTHER DEVELOPMENT TOTAL COMBINED NET INTERNAL AREA (1,453 FT² / 135 M 2 ) 89 LAURISTON ROAD, HACKNEY, LONDON E9 7HJ

2 DESCRIPTION An attractive Victorian period shop and upper parts occupying a prominent mid-terrace position in a popular tree lined parade of village shops on Lauriston Road, close to the junction with Victoria Park Road. The property is situated within an attractive conservation area in the heart of the renowned Victorian Park Village. The Freehold property comprises a shop at ground floor and basement of 654ft², arranged as mostly open plan accommodation, with a WC at lower level. To the ground floor rear is a separate and self-contained studio flat that can either be accessed from the street entrance from Lauriston Road or via a secure gated Mews walkway from Ruthven Street. At the first floor level there is a second small studio flat with a mezzanine storage/sleeping area and a separate 1 bedroomed apartment. At the second (top) floor level there is a further 1 bedroom flat, plus storage in the eaves. The commercial element at ground floor and basement benefits from a traditional shop front and awning, currently occupied as an organic food store. The living accommodation is mostly in dated decorative order and would benefit from modernisation throughout. Buyers should be aware that VAT may be payable at the point of purchase. Upon inspection of the terrace it is apparent that several Freeholders have extended the properties at various levels, and that there could be scope to increase the internal footprint of the building in the future by way of development, or to amalgamate the ground floor shop area with the studio accommodation, subject to the necessary planning consents.

3 LOCATION The location benefits from parks located at Well Street Common, Victoria Park and Mile End Park. Within the immediate area there is an established mix of both independent and recognised retailers most notably Gail s Bakery, Ginger Pig, Jonathon Norris Fishmonger and the property s occupant, Village Organics. There are a variety of eateries, bars and cafès including Elbows cafè, the Deli Downstairs, The Empress of India and The Fish House. The Bottle Apostle offers excellent wines and Haus is a renowned interior design retailer. The property is close to the popular Regent s Canal and established cycling routes. Well positioned for transport with several bus routes on Lauriston Road and Victoria Park Road adjacent, including 277, 25 and 388. London Fields station is 1 mile/17 mins. (mainline services to Liverpool Street) walking distance from the property. Mile End 1 mile/21 mins. and Bethnal Green 1.3 miles/ 29 mins. tube stations are also easily accessible. (Please note all times and distances are approximate). London Fields

4 ACCOMMODATION FLOOR SQ FT SQ M FLAT A - 2 nd Floor (1 Bed) FLAT B - 1 st Floor (1 Bed) FLAT C - 1 st Floor (Studio & Mezz) 92 9 FLAT D - Ground Floor (Studio) SHOP - Ground Floor SHOP - Basement Please note: the above areas are indicative and as a guide, they are subject to verification on site. TENANCIES EXPIRY ANNUAL RENT FLAT A ,400 FLAT B ,400 FLAT C HOLDING OVER 5,200 FLAT D HOLDING OVER 5,640 SHOP HOLDING OVER 12,000 TOTAL INCOME 39,640 We believe that there is room for improvement on all of the current passing rents.

5 BUSINESS RATES London Borough of Hackney We understand the Rateable Value of the Shop & Premises is 10,250. Interested parties are advised to make their own enquiries with the Local Authority for verification purposes. TENURE Freehold, subject to the existing tenancies. PRICE Our clients are seeking offers in excess of 1,250,000 EPC Flat A 57 (D) Flat B 61 (D) Flat C 43 (E) Flat D 42 (E) Shop 89 (D) LEGAL COSTS Each party to bear their own legal costs in this transaction.

6 VIEWING Strictly by appointment with sole agents Strettons Central House Hoe Street Walthamstow LONDON E17 3SZ Sean Crowhurst DDI: George Lowe DDI: