239-249 Mare Street
Hackney
London
E8 3NS

Substantial Freehold Mixed Use Investment

Let to tenants including Sawasdee Thai Restaurant and Tre Viet Vietnamese Restaurant.
Fully let mixed use investment comprising approximately 987.44 sq m (10,630 sq ft)
Asset management opportunities with future Change of Use potential
Close by to London Fields and Hackney Central Overground Stations
Nearby occupiers include Titan Gym, Domino's Pizza and Sainsbury's
VAT-free London Investment

Lot
9
Auction
05/May/2021
Rent
£241,800 per Annum Exclusive
Status
Withdrawn Prior
Price*
Sector
Restaurant
Auction Venue
Live Streamed Auction

Important Update

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Photos
Map

* More information on the term "price" can be found here

Property Information

Location

Miles: 1 miles east of Dalston; 1 mile north of Bethnal Green
Roads: A10, A11
Rail: London Fields (Overground)
Air: London City Airport

Situation

Hackney is a bustling North-East London suburb approximately 3 miles north-east of the City of London. The property is located on the west side of Mare Street, within close walking distance of London Fields and Hackney Central Overground Stations, which provides access across London. The property is close to Broadway Market, a thriving Saturday market, as well as over 70 shops, cafs and restaurants open seven days a week. Other nearby occupiers include Titan Gym, Domino's Pizza and Sainsbury's.

Tenure

Freehold.

Description

The property comprises a substantial, four storey building currently arranged as three ground floor restaurants/cafes with office accommodation to the first and second floors, and two 2 bedroom flats and one 3 bedroom flat to the third floor. The upper floors benefit from separate access from Mare Street, and each of the three flats benefit from a roof top balcony/terrace. There is an advertising hoarding on the side of the building.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Various. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
239, 241 & 243	Ground	Restaurant	148.50 sq m	(1,599 sq ft)	SAWASDEE AR-HAN-THAI LIMITED t/a Sawasdee	12 years from 05/05/2016 until 04/05/2028	£50,000	-
245	Ground	Restaurant	34.19 sq m	(368 sq ft)	TRE VIET 8 LIMITED t/a Tre Viet	5 years from 02/09/2020 until 01/09/2025	£16,500	02/09/2022
247	Ground	Restaurant/ Takeaway	50.91 sq m	(548 sq ft)	INDIVIDUAL t/a Tre Viet	20 years from 24/06/2008 until 23/06/2028	£21,000	24/06/2023
249	Ground	Restaurant/ Takeaway	51.65 sq m	(556 sq ft)	INDIVIDUAL t/a Tre Viet	10 years from 19/07/2016 until 18/07/2026	£26,500	19/07/2021
249a	First/ Second	Office	499.80 sq m	(5,380 sq ft)	INDIVIDUAL	5 years from 01/03/2019 until 29/02/2024	£45,000	-
249b	Ground/ First	Retail	20.35 sq m	(219 sq ft)	INDIVIDUAL t/a Jeri’s Diner	5 years from 30/10/2018 until 29/10/2023	£12,000	30/10/2021
Flat 1, 249a	Third	Residential (2 bed flat)	53.97 sq m	(581 sq ft)	INDIVIDUAL	AST until 19/07/2021	£22,100.04	-
Flat 2, 249a	Third	Residential (2 bed flat)	60.07 sq m	(647 sq ft)	INDIVIDUAL	AST until 04/11/2021	£19,200	-
Flat 3, 249a	Third	Residential (3 bed flat)	68.00 sq m	(732 sq ft)	INDIVIDUAL	AST until 04/09/2021	£27,000	-
Advertising Board	Side	-	-	-	OUTDOOR MEDIA MANAGEMENT LIMITED	10 years from 14/02/2018 until 13/02/2018	£2,500	-
Total			987.44 sq m	(10,630 sq ft)			£241,800.04

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.