Investment For Sale, London

Dalston Works Presents An Opportunity To Acquire A Substantial, Multi-let Commercial Investment In The Heart Of Dalston, East London.

The Investment Comprises Approximately 31,626 Sq Ft (nia) Of Commercial Accommodation Beneath The Waugh Thistleton-designed Dalston Works Development, Providing A Diverse Mix Of Office, Retail, Leisure And Creative Workspace Accommodation.

The Property Is Let To Seven Businesses, Including Puregym And Internationally Recognised Fashion Brand Simone Rocha, Which Together Account For Approximately 50.7% Of The Contracted Rental Income.

The Investment Currently Generates £585,674 Per Annum In Contracted Rental Income. A Proposed 12-month Vendor Rental Top-up On The Vacant Office Accommodation Increases The Income To £772,299 Per Annum, Reflecting A Blended Rent Of Approximately £24.42 Per Sq Ft.

A Significant Asset Management Opportunity Exists Within Block G, Where Approximately 7,465 Sq Ft Of Office Accommodation Is Available To Let, With An Estimated Rental Value Of £27.50 Per Sq Ft.

The Property Benefits From Strong Sustainability Credentials, Including Breeam Excellent Accreditation And Epc Ratings Of A24 Or Better.

Offers Are Invited In Excess Of £9,750,000, Reflecting A Topped-up Net Initial Yield Of 7.42% And A Reversionary Yield Of 8.20%, Subject To The Stated Rental Assumptions And Purchaser's Costs.