Size: 620 sq. ft
Address: 7B Cresset Road, Hackney, London, E9 6FS
Price: £280,000 (+VAT)
Business Rates: See note
Service Charge: £1,053 per annum
Ground Floor - 620 sq. ft (approx.)
The available space is located on Cresset Road, just off Well Street in this rapidly evolving mixed-use part of Hackney. Well Street is a neighbourhood high street with a friendly vibe, served by independent cafes like Well Street Kitchen or the The Grand Howl which roast their own coffee as well as pubs and places to eat such as The Gun and Well Street Pizza. There is also a health food shop, greengrocer, Post Office and a decent size Tesco along with independent shops like What Mother Made (locally made children's clothes) or Kristina records. There are other creative studios close by for example those run by SPACE in Deborah House with a strong artistic community. A short walk away past Well Street Common you find the foodie enclave around Lauriston Road / Victoria Park Road and the entrance to Victoria Park itself. Transport options within walking distance include Homerton, Hackney Central and London Fields Stations, with good bus services to Bethnal Green and other underground stations.
The studio forms part of a friendly mixed-use development of a former ceramic factory between Collent Street and Cresset Road. The ground floor has large street facing windows as well as a glass door giving onto a quiet street with an open outlook and gardens opposite. The studio enjoys great ceiling height and is currently configured as open with three zoned spaces plus a W.C. When entering the first space is a kitchen / break out area with an integrated fridge, good amount of cupboard space and a sink set into a poured concrete worktop. The spaces are divided by glass block walls that allow the light to bounce around the space while still giving privacy and a bit of sound insulation to the different areas but they could be removed to make one large space. The studio has some underfloor heating as well as four programmable electric wall radiators. Overall the space has relatively low running costs. Security is good with an electric indoor metal shutter that rolls down just behind the front door covering the full stretch of the door and two large windows.
£280,000 (+VAT) for the existing Long Leasehold interest with vacant possession for a term of 150 years from 2013 (so with approximately 142 years remaining). Subject to Ground Rent, currently at £350 per annum, rising periodically indexed to RPI.
The premises have a 2017 Business Rateable Value of £10,250 and are currently assessed as Offices and Premises. Should the incoming Tenant qualify for Small Business Rates Relief, we understand that no Business Rates would be payable for the current year. Interested parties are advised to seek their own confirmation from the London Borough of Hackney.
Estimated at £1,053 (+VAT) for the current year inclusive of a reserve fund contribution.
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.