The Market Place is a striking new indoor retail arcade that will feature a water wall entrance from Myrtle Road. It will give visitors a place to eat, drink and shop in the heart of East Ham, providing a modern indoor space whilst honouring the history of the Market Hall. The redevelopment, a joint venture between Barratt Homes, Dransfield Properties and Land Management is one of East Ham’s most important regeneration schemes. The development has been built on the site of the old Market Hall, owned, and operated by Land Management for 90 years, originally built to provide employment opportunities to World War 1 veterans and their families.
The site has now been transformed to provide 277 apartments and duplexes and the new Market Place shopping mall. The Market Place will include approximately 21,500 sq. ft. of retail floor space across 15 new units. With two entrances to the scheme, one on Pilgrims Way, close to Primark, and the other on Myrtle Road by Sainsbury’s, shoppers will be drawn to this new town centre focal point close to East Ham’s busy High Street North.
Location
East Ham is a great place to live, work and shop, catering to a wide demographic. Within the London Borough of Newham, around 8 miles east of Charing Cross and with a resident population of around 76,000. The area benefits from excellent transport links and is becoming increasingly popular with young professionals. It is now a straightforward commute to the City of London, Canary Wharf, Stratford or the West End, served by the Hammersmith & City and District tube lines.
The new Market Place is situated at the southern end of High Street North, close to its junction with Barking Road (A124), in East Ham’s busiest shopping district. East Ham Underground Station is approximately 700m (0.4 mile) to the north.
Accommodation
UNIT 1 – 2,533 sq ft – £69,500 rent per annum
UNIT 2 – 2,571 sq ft – £71,000 rent per annum
UNIT 2A – 381 sq ft – £11,500 rent per annum
UNIT 3A – LET TO STARBUCKS
UNIT 3B – 1,057 sq ft – £30,000 rent per annum
UNIT 4 – 1,952 sq ft – £65,000 rent per annum
UNIT 5 – 3,524 sq ft – £76,000 rent per annum
UNIT 6 – 1,294 sq ft – £45,000 rent per annum
UNIT 7 – 757 sq ft – £28,500 rent per annum
UNIT 8 – 439 sq ft – £13,000 rent per annum
UNIT 9 – 1,185 sq ft – £32,500 rent per annum
UNIT 10 – 900 sq ft – £29,500 rent per annum
UNIT 11 – 1,386 sq ft – £45,000 rent per annum
UNIT 12 – 1,368 sq ft – £37,500 rent per annum
UNIT 13 – 1,071 sq ft – £29,500 rent per annum
Terms
Service Charge - The tenant will be responsible for the payment of service charge. The current estimated service charge is £6 per sq. ft. per annum exclusive.
EPCS - None of the units have been occupied and require fit out. EPCs yet to be commissioned.
VAT - Please note that the property is elected for VAT. VAT will be payable on rent and service charges.
Tenure - New effective full repairing and insuring leases on terms to be agreed.
Costs - All parties will be responsible for paying their own legal and professional costs.
Rates - The current rateable value of Unit 5 £43,250. Based on the small business rates multiplier the approximate rates payable would be £21,581 per annum, equating to approx £9.03 per sq. ft. All other units are yet to be assessed for business rates. All interested parties must rely on their own investigations to confirm this information.