Property description

We are delighted to offer this one of a kind Double Fronted A1 Commercial Property situated in the popular and vibrant area of Brick Lane also known as the heart of East London. A short distance from Aldgate East underground station (Circle Line, District Line and Hammersmith & City), Shoreditch High St railway train station and Liverpool Street only a short 5-8 minute walk from the property. The property is in a prime location with several popular and trendy shops, restaurants, bars, leisure facilities and clubs on the same strip attracting customers from all over London such as Britain’s first Beigal Shop located only a few doors away as well as the new cereal shop not far away. Established over 75 years ago not only is the property a highly successful family run business it is also the largest and most recognised property in Brick Lane. High Profile celebrities such as Jamie Oliver frequently visit the property for its rare and renowned products from Asia.

The premises comprising of a very large shop floor plus a large basement. The property is extremely spacious and furbished to a high standard. The premises offers 5,411.45 sq. ft. in total. However, the shop floor alone is an impressive 4,603 sq. ft suitable for a large supermarket. The property also boasts a large cold room, an impressive butchers counter with a glass counter for meat display. There is extensive CCTV operating to ensure the security of the shop. Bearing in mind the property has a stock value of over £1 million (which is to be negotiated on separately to the premium), the long history of success that the property has achieved and the fact that it is located in a Prime Location... the premium has been capped at minimum offers of £130,000 with the highest offers likely to be considered along with their credibility as potential leaseholders of such a large shop. The rent is currently £107,000 per annum for the entire property. The lease with over 20 years remaining is to be assigned to the successful applicant which is renewable.

ACCOMMODATION

Basement:

30.31 ft. x 26.24 ft. (approx.)

BASEMENT TOTAL: 808.45 sq. ft. (approx.)

Ground Floor/Shop Floor:

Shop Front: 30.81 ft. (approx.)

Immediate space after entering shop: 30.81 ft. x 26. 24 ft. (approx.)

Space in-between larger part of shop floor and immediate shop floor: 14.30 ft. x 15.72 ft. (approx.)

Opening into Large Section of Shop Floor: 61.13 ft. x 50.23 ft. (approx.)

Cold Room: 25.50 ft. x 16.93 ft. (approx.)

Storage: 6.33 ft. x 10.79 ft. (approx.)

GROUND FLOOR TOTAL: 4,603 sq. ft. (approx.)

TOTAL AREA OF PREMISES: 5,411.45 sq. ft. (approx.)

TENURE

Leasehold/Lease Assignment - Our client wishes to assign the lease which has over 20 years remaining. 
 

PREMIUM

Our client seeks a high premium for goodwill, fixtures and fittings. The premium has a minimum cap, therefore only offers of over £130,000 will be considered and take seriously. The highest offer along with credible financial and business background will only be considered for this property.

RENT

Currently the rent is at £107,000 per annum.

RATES

We advise interested parties to make their own enquires with the Local Authority (Tower Hamlets).

LEGAL FEES

The seller shall only be responsible for their own legal fees and the buyer shall be responsible for their own legal fees as well as the landlords legal fees.

VIEWINGS

To arrange a viewing please call us on 020 7510 0860 or alternatively you can contact the Property Manager directly on 07415 863 800. If you have any questions or enquires please do not hesitate to call our office. We are more than happy to answer any of your questions.

IMPORTANT: Viewings Strictly By Prior Appointment with Agents.

Property Features :

• A1 Usage
• Long Lease With Over 20 Years Remaining
• Shop Floor Total Of 4,603 sq. ft. (approx.)
• Entire Property Total Of 6,649 sq. ft. (approx.)
• Consisting Of 4 Floor Plus Basement