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Rare “freehold” investment opportunity
A3 restaurant on Fri terms
Income of £35,000 per annum exclusive
Sought after location within the famous “Green Street” location to provide a premises operating as a restaurant
89 Green Street: Mr Zeeshan Yasser Ahmed Present Lessee, Ground floor - 66.24m2 First floor - 53.53 m2 Second floor - 20.13m2 Accommodation area, 16 years from March 2016 Rent review every 4 years Full repairing and insuring terms Lease Terms, £30,000 pax Vendor to top up the rent to £35,000pax with the forthcoming increase due on 1st March 2019 Current Rent, Rent reserved at £35,000pax with effect from March 2019 Next review
Price The price is subject to contract and existing tenancy. A purchase at this level relates to a Net Investment Yield of 5.46% allowing for purchaser costs of 6.8%
Legal Costs Each party to bear their own legal costs incurred in this transaction, subject to the prospective purchaser solicitors undertaking to pay the landlord’s abortive costs if the prospective purchaser withdraws from the transaction.
Viewing Strictly by appointment through the joint sole agent, Messrs Harston & Co or Dobbin and Sullivan.
The shop premises is situated on the Eastern side of Green Street, lying approximately midway between Green Street with Henderson Road to the North and Sherrard Road to the South. Green Street is a well-known retail thoroughfare within East London, offering a range of national retailers towards its southern end and a more specialised mix of ethnic, fashion, jewelers and catering uses towards its northern end. Public transport is well provided for in the area, with regular bus services running along Green Street and with both Upton Park Underground Station and Forest Gate Main Line Station and Woodgrange Park (underground) being within reasonable walking distance.
For more information about this property, please contact Dobbin & Sullivan, E15 on +44 20 8115 1509 * (local rate)
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