The Mosaic 45 Narrow Street London Docklands E14 8DN

The Mosaic
45 Narrow Street
London
Docklands
E14 8DN

Multi-Let Retail and Leisure Investment

Affluent riverside community close to Canary Wharf and the City of London
Located within the Mosaic development close to the marina at Limehouse Basin
4 Units let to a Café/Convenience Store, a Hairdressers, Dry Cleaners and a Restaurant
Vacant restaurant unit to let, formerly the Veranda Restaurant and Bar let at £50,000 pa
Four Week Completion

Lot
33
Auction
22nd May 2014
Status
Sold Post
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Multi-Let Retail and Leisure Investment

Affluent riverside community close to Canary Wharf and the City of London
Located within the Mosaic development close to the marina at Limehouse Basin
4 Units let to a Café/Convenience Store, a Hairdressers, Dry Cleaners and a Restaurant
Vacant restaurant unit to let, formerly the Veranda Restaurant and Bar let at £50,000 pa
Four Week Completion

Lot 33
Auction 22nd May 2014
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 2.5 miles east of the City of London, 2.5 miles west of Canary Wharf
Roads: A13, A102, M25 (Junction 1, 15 miles)
Rail: Limehouse Railway Station and DLR,; Canary Wharf Underground Station
Air: London City Airport (6 miles), London Heathrow (16 miles)

Situation

The property comprises five retail units and one storage unit forming part of the ground floor and part basement of The Mosaic, a luxury development by St James. The Mosaic comprises two buildings facing an attractive central square and fronts the historic Narrow Street with additional access through to Horseferry Road and the nearby marina at Limehouse Basin. Many of the residential properties have Thames River views.

Tenure

Leasehold. Held from St James Group Limited for a term of 125 years from January 2001 at a peppercorn rent.

Location

Miles: 2.5 miles east of the City of London, 2.5 miles west of Canary Wharf
Roads: A13, A102, M25 (Junction 1, 15 miles)
Rail: Limehouse Railway Station and DLR,; Canary Wharf Underground Station
Air: London City Airport (6 miles), London Heathrow (16 miles)

Situation

Tenure

Leasehold. Held from St James Group Limited for a term of 125 years from January 2001 at a peppercorn rent.

Description

The properties comprise modern retail and leisure units facing the central square. Unit U1 operates as a Pizza Restaurant with Unit B8 used as storage. Unit U2 is vacant and was formerly the Veranda Restaurant and Bar let at £50,000 pa representing an A3 or A2 letting opportunity. Units U3, U4 and U5 all provide essential neighbourhood retail services as a café/convenience store, a hairdressers and a dry cleaners.

VAT

VAT is not applicable to this lot.

Viewings

There will be block viewings for these properties. Interested parties must register their details with the Auctioneers and may be asked to provide identification on site.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

Viewings

There will be block viewings for these properties. Interested parties must register their details with the Auctioneers and may be asked to provide identification on site.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
U1	Restaurant			RIVERSIDE PIZZA CO	125 years from 01/01/2001 until 31/12/2125	£1
B8	Basement Storage			RIVERSIDE PIZZA CO	125 years from 01/01/2001 until 31/12/2125	£6,000	25/03/2016 to RPI
U2	Restaurant	184.59 sq m	(1,987 sq ft)	VACANT
U3	Retail (Café/Convenience Store)	191.00 sq m	(2,056 sq ft)	M & S AHMED	25 years from 29/09/2003 until 28/09/2038	£62,000	24/06/2018
U4	Retail (Hairdressers)	455 sq ft)	(11,010 sq ft)	MR A VAROBJOUAS (CANNOCK) LTD	15 years from 16/03/2011 until 15/03/2026	£18,000	15/03/2019
U5	Retail (Dry Cleaners)	45.60 sq m	(491 sq ft)	M SHEVKI	25 years from 23/06/2003 until 22/06/2028	£19,750	23/06/2018
Totals		463.49 sq m	(4,989 sq ft)			£105,751