Block of flats for sale in Andre Street, London E8

Investment Consideration:
Gross Initial Yield: 5.72%
Rental Income: £5,150 p.a.
VAT is not applicable to this property
Comprises block of 17 apartments and 1 large retail unit, all sold-off on long leaseholds
Situated within 5 min walk from Hackney Downs Overground and Train Station

Property Description:
Comprises mixed-use block of 17 apartments and 1 large retail unit, all sold-off on long leaseholds, providing the following accommodation and dimensions:
Ground Floor: Large retail unit 929 sq m (10,000 sq ft)
First-Third Floor: 17 self-contained apartments

Tenancy:
The retail unit is sold off on 999 year lease from April 2024 at a ground rent of peppercorn.
The residential flats have been sold-off on 125 year leases from 1st January 2018 at a ground rent of £5,150 p.a..

Location:
The property is situated on Andre Street, just moments from the station and green space at Hackney Downs Station, close to all amenities and further Overground station at Hackney Central and the social hotspots of London Fields and Dalston. Retail occupiers nearby include Cafes, Takeaway, Laundrette, Supermarket, Wine Shop and more.