7 Mulberry Way
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7 Mulberry Way
526 SF Retail Building London E18 1EB £800,000 (£1,521/SF) 6.50% Net Initial Yield
Executive Summary
Location:
Situated in a suburban area within the London Borough of Redbridge on the southside of Mulberry Way (B168), close to the junction of George Lane & close to South Woodford Underground Station on the Central Line, providing convenient access to central London. The area is known for its mix of residential and commercial spaces, including shops, cafes, and local businesses along George Lane and around the station area. At the end of Mulberry Way there is C
Convenient access to A406 which links to the M11 & M25 motorways.
Description:
Comprising a retail unit on the ground floor and basement commercial areas together with a 3-bed maisonette accessed from the rear via a private walkway
Tenure: Freehold subject to existing tenancies
Tenancy information:
7 Mulberry Way, E18
Hexagon Plumbing & Electrical Ltd
Ground - 79.5 m2
Basement - 9.9 m2
10 Year FRI from 1st April 2023
£22,000 pax Review Apr-28
1st & 2nd Floor
7a Mulberry Way E18
Mr. Iqrar Khan of Orbital Homes Ltd
Self-Contained 3 bed maisonette
AST July 2023 £30,000 pax (£2500 pcm)
Total Combined rental income - £52,000 pax
Price
Offers sought in the region of £800,000, subject to contract and existing tenancies as above for the freehold interest. A purchase at this level will equate to a net investment yield of 6.24% and a gross investment of 6.5%
VAT:
The property is not elected for VAT
Situated in a suburban area within the London Borough of Redbridge on the southside of Mulberry Way (B168), close to the junction of George Lane & close to South Woodford Underground Station on the Central Line, providing convenient access to central London. The area is known for its mix of residential and commercial spaces, including shops, cafes, and local businesses along George Lane and around the station area. At the end of Mulberry Way there is C
Convenient access to A406 which links to the M11 & M25 motorways.
Description:
Comprising a retail unit on the ground floor and basement commercial areas together with a 3-bed maisonette accessed from the rear via a private walkway
Tenure: Freehold subject to existing tenancies
Tenancy information:
7 Mulberry Way, E18
Hexagon Plumbing & Electrical Ltd
Ground - 79.5 m2
Basement - 9.9 m2
10 Year FRI from 1st April 2023
£22,000 pax Review Apr-28
1st & 2nd Floor
7a Mulberry Way E18
Mr. Iqrar Khan of Orbital Homes Ltd
Self-Contained 3 bed maisonette
AST July 2023 £30,000 pax (£2500 pcm)
Total Combined rental income - £52,000 pax
Price
Offers sought in the region of £800,000, subject to contract and existing tenancies as above for the freehold interest. A purchase at this level will equate to a net investment yield of 6.24% and a gross investment of 6.5%
VAT:
The property is not elected for VAT
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
526 SF
Building Class
B
Year Built
1970
Price
£800,000
Price Per SF
£1,521
Net Initial Yield
6.50%
NOI
£52,000
Tenancy
Single
Number of Floors
3
1 of 1
Nearby Major Retailers
-
Jason Grant -
Countrywide Commercial (UK) Limited
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7 Mulberry Way
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