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325 Lea Bridge Rd 333 SF Retail Building London E10 7LA $565,868 CAD ($1,699.30 CAD/SF) 3.03% Cap Rate

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Investment Highlights

0.6 miles to Lea Bridge station
Area has seen sustained residential development

Located on established retail parade

Executive Summary

325 Lea Bridge Road is a freehold mixed-use building in Leyton, East London. The ground floor comprises a retail unit fronting Lea Bridge Road and a self-contained studio flat to the rear. The two flats on the upper floors have been sold on long leases.
The shop is let at £9,000 per annum on a commercial agreement dated 16 September 2020 for a term expiring 16 September 2025. The tenant is holding over. The rear studio is vacant with an estimated rental value of £1,000 per calendar month. The two long-leasehold flats each pay a ground rent of £50 per annum.
Current income is £9,100 per annum. Letting the studio at its estimated rental value takes total income to £21,100 per annum. The lawful use of the rear studio is established by a Certificate of Lawfulness granted in December 2015.

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