The property comprises a two-storey industrial building currently providing a warehouse at ground floor with offices and ancillary on the 1st floor. The property is of brickwork construction and has single paned metal crittall windows and central heating.
The ground floor warehouse area has a wall mounted heater blower and has offices created via demountable partitions which benefit from part perimeter trunking, central heating and being carpeted. The ground floor provides two separate WC’s and storerooms at the rear, with access to a small rear courtyard. The premises benefit from a roller shutter with the ground floor warehouse having a floor to ceiling height.
The first floor provides a number of separate workshops/office areas together with communal WC’s and two kitchen areas. The floor has access onto a large flat roof at the rear, where there is a small storeroom.
The property has use of 8 car parking spaces within a shared gated courtyard.
Location
The property is located on the north side of Maryland Road approximately midway between its junctions with Falmouth Street to the west and Leytonstone Road to the east. The property is located within the heart of Maryland which is located a short distance to the north-east from Stratford Centre and within the heart of the East End of London.
The area benefits from excellent transport links, with Maryland Mainline and Underground Stations (Elizabeth Line) being located a short distance to the south-east, whilst Stratford Mainline and Underground Stations are located approximately a 10 minute walk to the south west.
Accommodation
The premises are arranged as follows:
Ground Floor Warehouse - 4,885 sq ft (454 sq m)
1st Floor Office - 1,975 sq ft (183 sq m)
Total - 6,860 sq ft (637 sq m)
Terms
Tenure - Freehold.
Title - The property is held freehold (Title No: EGL384269).
Tenancies - The premises are let to three Tenants as per the Tenancy Schedule, producing a total income of £49,100 per annum.
EPC - The premises has an EPC rating of E.
Rates - The premises are rated under three seperate heriditaments and have an RV of £49,750.
VAT - The premises are not VAT elected.
Proposal - The Vendors are seeking a price of £1,250,000 for the freehold interest, which equates to a capital value of £182 per sq ft.
Legal Costs - Each party to bear their own legal costs.
Anti-Money Laundering - If applicable, a successful purchaser/tenant will be required to provide the usual information to satisfy AML requirements when Heads of Terms are agreed.
Specification
- Of interest to investors, owner occupiers and developers.
- Existing two-storey industrial building totalling 6,860 sq ft.
- Let to two Tenants on three leases producing an annual income of £49,100 Per Annum at a low average rent of £7.16 Per Sq Ft.
- Potential to significantly improve the income and reposition the asset.
- Ability to obtain vacant possession on the 30th November 2026.
- The premises benefit from the use of 8 car parking spaces situated in a shared gated courtyard.
- Located 500 yards from Maryland Station (Queen Elizabeth Line) and a short walk from Stratford Underground Station (Central & Jubilee Lines & Overground Services).
- The Vendors are seeking a price of £1,250,000 for the freehold interest, which equates to a capital value of £182 per sq ft.