Retail premises for sale in 99 Dalston Lane, London E8

Location
The property is situated within the popular inner London district of Dalston which is 4 miles north-east of Charing Cross in the London Borough of Hackney. The immediate vicinity is occupied by a range of independent and well-established national businesses which provides a vibrant environment which is popular area with young professionals working in Central London. The area has benefited from significant regeneration and gentrification in recent years and is now one of the most desirable places to live and invest in London. Please refer to the brochure for sizes.

The property is situated on Dalston Lane (A104) in between the junction with Ridley Road and Cecilia Road. Kingsland High Street (A10) is 0.4 miles to the west and is one of the main arterial roads out of London that begins in Central London and travels north through Cambridge and ends in King's Lynn. To the east is the A12 which is 1.7 miles to the east and the A1 is 1.8 miles to the West.

The area is well served by public transport. Dalston Kingsland and Dalston Junction are both 0.4 miles, both of which are on the London Overground. There are numerous and regular bus services that facilitate the area, providing access to Central London and all other local points of interest.

Please note all distances given are approximate only.

Description
The property is arranged over four floors. The well-known Three Compasses pub is split over the ground and lower ground floor. There is a selfcontained flat to the rear of the lower ground floor which is included within the pubs demise. There are 4 self-contained flats arranged over the first and second floor all of which are let on AST agreements. Access to the upper floor flats is to the side of the building via a gated entrance. The property is fully occupied, albeit we believe there is scope to increase the rental income on the upper floor flats.

Please note that the sizes given is approximate only. All interested parties are advised to rely on their own inspection and survey.

Tenancy
The ground floor is currently occupied by Cox Johns Le Camus Limited (07730377) on a recently renewed lease for a term of 25 years with a current passing rent of £55,000 per annum. The commercial tenant has a concession for the next 3 years that provides for 1 month rent free period per year. This concession will be topped up by the seller on completion.

The flats are let on AST agreements. It is thought that there is significant scope to increase the current income from each flat. Please refer to the schedule for more detail.

Please see brochure for accomodation scheduale.

Terms
Offers are invited in excess of £2,000,000 for the freehold interest, which represents a gross yield of 6.7%, against the forecast rental income of £133,000 per annum. This equates to approximate capital value of £374 per square foot of the net internal area.

Tenure
The freehold interest is to be sold subject to the existing tenancies.

Data Room
A data room has been set up and access is available on request.

Viewings
Viewings are strictly by appointment through sole agents Harston&Co.