Tagwright House, 35-41 Westland Place, N1 7LP
Mixed Use Office and Residential Investment - Shoreditch
- Situated in the dynamic district of Shoreditch, close to Silicon Roundabout, the technology hub of London.
- Excellent transport connections via underground, bus, mainline rail and road.
- Mixed use property comprising 8,822 sq ft of office accommodation over lower ground, ground and mezzanine floors, with 11,693 sq ft of residential space arranged as 14 flats over four upper floors.
- Total income of £849,894 per annum, reflecting a low average £44.84 psf on the office accommodation.
- Residential apartments let on Assured Shorthold Tenancies.
- Excellent asset management opportunities for further development and refurbishment to capitalise on strong rental growth potential with vacant possession of the office space achievable within the next 12 months.
- Existing planning permission for an extra storey and reconfiguration of the building.
- Offers are sought in excess of £18,250,000 (Eighteen Million Two Hundred and Fifty Thousand Pounds) for the freehold interest in the property subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 4.85% on the commercial income and a capital value of £907 psf in respect of the residential accommodation, and a low overall capital value of £890 psf.
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