Freehold Shop & Upper Parts in Ridley Road Market
Leased as a whole
Summary
- Let to Abdul Rashid for a term of 5 years from 15th August 2023, expiring 14th August 2028 at £30,000 per annum
- The Lease is contracted outside of the 1954 Landlord & Tenant Act
- Located on one of London's remaining traditional market roads, in operation since the 1880s
- In the Heart of Dalston East London
- A short walk to Dalston Kingsland's Station
- Huge asset management potential
- Low passing rent with a lot of room for increase at the lease expiry (subject to obtaining possession)
Accommodation
The accommodation comprises the following areas:
| Name | sq ft | sq m | Availability |
| Basement | 800 | 74.32 | Available |
| Ground | 860 | 79.90 | Available |
| 1st - 2 bedrooms / kitchen / w/c | 1 | 0.09 | Available |
| 2nd - 1 bedroom in the eaves | 1 | 0.09 | Available |
| Total | 1,662 | 154.40 |
Location
Situated just off Kingsland Road, Dalston, the property is located in prominent position on Ridley Road in the heart of a bustling and vibrant Market Street.
Dalston Kingsland Railway and Dalston Junction Stations are within a 1 to 5 minute walk from the property, with several bus routes also serving the immediate area.
There are many national and independent businesses in close proximity, including, M&S, Aldi, Sainsbury’s, Greggs, McDonalds and many more. As well as the benefit of numerous other amenities such as restaurants, street market, cafe's and retailers within a short walk to the premises.
Get directions from Google Maps
Mainline Stations
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Dalston Kingsland2 mins
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Dalston Junction3 mins
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Hackney Downs11 mins
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Haggerston13 mins
Underground Station
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Dalston Kingsland2 mins
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Dalston Junction3 mins
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Hackney Downs11 mins
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Haggerston13 mins
Further Information
Price Offers in excess of £450,000
Rates Payable Upon Enquiry
Service Charge n/a
EPC Rating This property has been graded as C
Description
27 Ridley Road is a prominently located shop in the Heart of Ridley Road Market, E8.
The tenant has a lease of the whole premises and currently rents out the basement as small storage lock ups, runs the ground floor as Pamir Meat Shop and wholesalers and rents the upper parts out separately.
The first floor is arranged as 2 bedrooms of good sizes, with a kitchen, w/c and shower room, additionally there is a small roof terrace. The second floor is one bedroom in the eves. Overall the residential parts are in poor condition however with refurbishment at the end of the lease (subject to possession) could generate a sizeable increase in rent.
Benefits include good ceiling heights to the commercial element, good frontage (15.75 feet), extremely busy retail location, asset management / refurbishment potential.
‘There is also potential to add an additional floor subject obtaining planning and the necessary permissions.’
Viewings
Via arrangement with the sole agents Dutch & Dutch.
Terms
Freehold
Title Number: LN38425
Investment Summary
Total Income: £30,000 per annum
Gross Initial Yield: 6.60 % on a guide price of £450,000 (Plus VAT)
WAULT: 3 years 6 months
The lease and rent deposit deed are available on request.
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