Status: Shop For Rent
Size: 1,183 sq. ft. (Approx.)
Address: 326-328 Old Street, London EC1V 9DR
Rent: £55,000 PAX
Premium: OFFERS INVITED
Business Rates: £9,298.13 PA
Service Charge: £5,590 PA
Insurance: £1,815 PA
Ground Floor Sales - 988 sq. ft. (Approx. GIA)
Ground Floor Office - 57 sq. ft. (Approx. GIA)
Toilets / Kitchenette - 138 sq. ft. (Approx. GIA)
Ground Floor Total - 1,183 sq. ft. (Approx. GIA)
Basement Storage - 700 sq. ft. (Approx. GIA)
Overall - 1,883 sq. ft. (Approx. GIA)
The premises are located on Old Street, just to the south of Hoxton Square, at the northern edge of the 'Shoreditch Triangle'. The premises sit opposite Aviva Investors' forthcoming restaurant and office scheme at 297 Old Street. Local retail and lesuire oporators include; SCP, The Blues Kitchen, The Tramshed, Goodhood, WA Green, Grace Loves Lace, On The Bab, Huckle the Barber and Redemption Bar.
The shop which has been trading as a stationers for last 12 years benefits from a prominent semi-corner location. The Ground Floor has good ceiling height and also benefits from good natural light from a modern glazed shop front as well as roof-lights towards the rear. The basement space has reasonable ceiling height (average 2.43m approx.) and is currently used for storage.
Assignment for a premium of our clients current lease which expires 15th November 2020.
and / or
Potentially a new 10-15 year lease outside the protective provisions of the Landlord and Tenant Act could be available upon terms to be agreed.
The current passing rent is £55,000 per annum exclusive. We understand the Landlord is willing to grant a new lease with an initial annual rent of £60,000 per annum.
Our clients seeks premium offers for the benefit of their lease.
The Shop currently falls under two assessments with the Valuation Office. The Basement Storage has a Rateable Value on the 2017 List of £9,100. The Ground Floor has a Rateable Value on the 2017 List of £22,500. Verbally on the phone London Borough of Hackney have confirmed that the combined liability for both floors for the annual period of 1st April 2018 to 31st March 2019 is £9,298.13 (£2,123.65 & £7,174.48). Interested parties are asked to seek their own confirmation from the London Borough of Hackney.
Service charge contributions are currently running at £5,589.76 per annum. The service charge currently includes Gas, Water and Electricity.
Building Insurance contributions are currently running at £1,815.03 per annum.
The Statements contained in these Particulars are believed to be correct but their accuracy is not guaranteed and they do not constitute any part of an offer. This Agent and its employees have no authority to make representation or give any warranty in relation to this property. Any intending purchaser/lesser must satisfy themselves by inspection, examination, investigation or otherwise as to the correctness of each of the statements contained in these particulars.