* Freehold
* A virtual freehold investment property producing £51, 000 per annum
* Leasehold. Held for a term of 999 years from 21st September 2018 at a peppercorn rent
For sale by auction 24/10/2023 £595, 000 plus
A virtual freehold investment property producing £51, 000 per annum
Location & Description
The property comprises the ground and lower ground floors of a of a larger
building not included in the sale. .
Whitechapel is located in the London Borough of Tower Hamlets on the north
bank of the River Thames, mile east of the City of London and 2 miles west of
Canary Wharf. Transport links are excellent, the area being served by
Overground services at Limehouse and Shadwell Stations, as well as Underground
services at Tower Hill. This area is benefiting from significant development
in the Aldgate area.
The property is located on the corner of Commercial Road and Devonport Street.
Transport communications are good with many bus routes servicing the immediate
area. Limehouse Station (National Rail and connected the DLR; Docklands Light
Railway), Shadwell DLR, Shadwell London Overground, Aldgate East Underground
(District, Hammersmith & City and Circle lines) and Aldgate Underground
(District, Hammersmith & City and Circle lines) are within walking distance of
the property.
Accommodation
The entire property is currently utilised as an escape room entertainment
space and extends to circa 2, 100 Sq Ft over both the ground and lower ground
floors.
Tenure
Leasehold. Held for a term of 999 years from 21st September 2018 at a
peppercorn rent
Tenancy Details
The property is let to Escape London Limited by way of a 15 year lease from
27th November 2019 at a passing rent of £51, 000 p. a. x
The tenant operates two escape room locations within London and has continued
to pay full rent throughout the pandemic.
Note
Auction Surveyor: Andrew Brown
Contact: EPC Rating
tbc

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