445-447 Bethnal Green Road, E2 9QH

£500,000 Offers Over
702 Sq Ft

445-447 Bethnal Green Road, E2 9QH

£500,000 Offers Over
702 Sq Ft
  • Ref: E20AN445-447
  • Type: Investment/Development
  • Availability: For Sale

Property Features

  • East London investment
  • Airspace development potential (s.t.p)
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  • Property Summary

    East London freehold investment for sale with development potential (s.t.p)

    Full Details

    Location
    Bethnal Green lies within the London Borough of Tower Hamlets approximately 3.5 miles north east of Central London bordering Shoreditch to the west, Hackney to the north and Whitechapel to the South.

    The area has become a hub over recent years with tech, new media, creative and fashion sectors moving in whilst also becoming a cultural destination hosting a huge array of bars, restaurants, coffee shops as well as a thriving night time economy.

    The property is located on the north side of A1209 Bethnal Green Road between Ellsworth Street and Punderson’s Gardens in the heart of Bethnal Green approximately 100 metres west of Bethnal Green underground station (Central Line Zone 2).

    Notable occupiers nearby include Specsavers, Iceland, McDonald’s, Boots pharmacy and Tesco Express.

    Approximate Central Line journey times as follows:

    Stratford – 6 minutes
    Liverpool Street – 4 minutes
    Oxford Circus – 14 minutes

    Additionally, the area is served by the following bus routes:

    8 - Bow Church to St Giles High Street
    388 - Stratford City Bus Station to London Bridge Bus Station
    D3 - Bonner Road to Leamouth/Orchard Place
    N8 - The Lowe Hainault to Oxford Circus Station night service

    *Information provided by TfL

    Accommodation
    Accommodation comprises of a double fronted ground floor retail unit below 2x self contained split level residential maisonettes over 1st and 2nd floors both of which have been sold off on long leases.

    There may be an opportunity for future air space development to create apartments at 3rd and 4th floor levels subject to all necessary consents being obtained. Interested parties should note that the Vendor will be seeking an overage should residential consent be granted in the future.

    Tenancy information as follows:

    Ground floor shop 445-447 Bethnal Green Road
    Extending to 702 sq.ft. (65.2 sq.m.) and let for a term of 10 years from 16 January 2026 to Tote Bookmakers Limited company number 00852040 at £30,000 pax subject to a Tenant only Option to Determine on the 5th anniversary.

    We understand that the lease is contracted inside of the security of tenure and compensation provisions of the 1954 Landlord & Tenant Act.

    NB. Floor areas taken from VO website.

    445a Bethnal Green Road
    Sold on a long lease for a term of 99 years from 24 December 1987 (c61 years remaining) subject to a ground rent of £150 pa increasing to £200 in 2053.

    447a Bethnal Green Road
    Sold on a long lease for a term of 99 years from 24 December 1987 subject to a ground rent of £150 pa increasing to £200 in 2053. We understand this lease has been extended by a further 90 years.

    Terms

    Tenure
    Freehold. Offers are sought in excess of £500,000 for the Freehold interest subject to the aforementioned Tenancies.

    All rents, prices and premiums are exclusive of VAT under The Finance Act 1989. Accordingly, interested parties are advised to consult their professional advisers as to their liabilities, if any, in this direction.

    VAT
    We understand that the premises are not elected for VAT.

    Consumer Protection & Money Laundering Regulations
    It is recommended that applicants seek independent professional advice before entering into a contract on this property. It is required to gain proof of identity from companies and individuals before accepting an offer for the property.

    Services/Utilities
    Reference to all/any services, utilities or fixtures & fittings in these particulars does not imply they are in full and efficient working order.

    Administrative fee
    Prior to solicitors being instructed, the prospective Tenant or Purchaser is to pay an administration fee of £100 plus VAT to Adam Stein & Co. Ltd to cover all associated administrative costs including any referencing fees incurred.

    Viewing
    Strictly by prior appointment via Freeholders sole agents as above.