To let
Property available on: 21/03/2017
- Large Premises Over 1,700 sq. ft.
- Prime Location
- Busy Footfall
- Successfull Running Business
- 20 Year Open Lease Offered
- Planing Permission in Place to Extend Basement
- A5 Usage
- Rent and Premium Negotiable Subject To Basement Works
- Car Park
We are extremely proud to offer this A5 Commercial Business currently running as a successful Indian Sweets shop. to the market with a new open lease being offered with a term of 20 years.
The property is ideally located on Brick Lane offering a vast number of Footfall day and night. Brick Lane is renowned for its diverse culture and more recently has become an extremely trendy location in London alongside Shoreditch. Brick Lane has a vast number of shops ranging from supermarkets, Barbers, Grocery Shops and Clothing Retailers.
The landlord seeks a rental figure of £65,000 for this spacious property totalling 1,700 sq. ft. (approx.) He is also seeking a premium with the figure to be disclosed on application. There is a 20 year open lease being issued. This property is offered with a new lease with 20 years being offered with 5 year rent reviews for the first 10 years and 3 year rent reviews after this.
There is planning permission in place to extend the basement further which would give considerable additional space to the property. The landlord would be open to carrying out this work himself however would prefer the incoming tenant to take responsibility of this as this would offer them much more space for their business. The landlord is willing to negotiate on the rent and premium if any incoming tenant will be open to carrying out this work themselves. He would be more than happy to facilitate this.
This large property boasts a total space of 1,700 sq. ft (approx.). with an exceptionally large kitchen measuring 561.31 sq. ft. (approx.) This property has exciting potential as the shop is in a 'T' shape offering you 3 Points of access in to the property. The side entrance from Fournier Street which enters in to the kitchen offers the potential of turning this in to a separate Commercial Unit which can be privately rented by any incoming tenant.
Accommodation:
Shop Front: 14.27 Ft.
Shop Floor: 26.42 Ft. x 14.27 Ft.
Kitchen: 51.45 Ft x 10.91 Ft
Basement: 17.46 Ft x 13.48 Ft
Storage Space: 13.44 Ft. x 11.08 Ft
TOTAL: 1,700 Sq. Ft.
Tenure
Leasehold/New Lease - £65,000 per annum.
Our client wishes to offer a New Lease with 20 years being offered (renewable lease).
Premium
P.O.A
Legal fees
The incoming tenant is to bear their own legal costs as well as the landlords. The seller will bear his own legal costs.
Rates
Interested parties are encouraged to make their own enquiries with the local authority (Tower Hamlets).
