Mixed use investment property for sale in London

This property is marketed by:
Strettons

Property Features

• Freehold retail parade with 3 class-E units across 6,465 sq. ft over the ground and basement and 18 flats on 3 upper floors sold off providing a ground rental income
• Located between Liverpool Street and Aldgate, within the London Borough of Tower Hamlets, in a prime Spitalfields location.
• Situated a short walk from Liverpool Street and Aldgate/Aldgate East underground stations, providing access to the Elizabeth, Central, Circle, Metropolitan, and Hammersmith & City lines, and District lines, Overground, and National Rail services.
• 38 Middlesex St – let to Food Court Ltd (t/a 1947 Indian Restaurant & Bar) on a 20-year lease expiring 05/03/2038 at £37,500 per annum.
• 40-42 Middlesex St – let to Bide Ltd (t/a Bife Argentinian Restaurant) on an 18-year lease expiring 31/11/2038 at £55,000 per annum.
• 44 Middlesex St – let to a private individual (t/a Rockerfella Barbers) on a 15-year lease expiring 07/03/2037 at £27,500 per annum.
• 38-44 Middlesex St – 17 flats sold off with 94 years remaining, and 1 flat sold off with 163 years remaining. Each flat subject to £100 per annum ground rent.
• Total rents received of £121,700 per annum.
• To be sold at Strettons 25th July auction if sale not agreed prior.

Description

The property comprises three self-contained retail units across ground and basement, and 18 flats across the first, second, and third floors with a dedicated residential entrance and common parts.

The property is located in central London’s city fringe within the London Borough of Tower Hamlets. The site is situated on the north side of Middlesex Street, at the junction of New Goulston Street, and Gravel Lane. Nearby occupiers include Travelodge, Mumbai Square Restaurant, and The Bell Public House. The area hosts a wide range of destination retail operators and supports a wide variety of food and beverage operators owing to its proximity to Spitalfields Market and Petticoat Lane Market. The area is very well connected, with Liverpool Street, Aldgate, Aldgate East, and Shoreditch High Street stations all within a short walk, providing access to the Elizabeth, Central, Circle, Metropolitan, and Hammersmith & City lines, and District lines, Overground, and National Rail services.