Lot 18 details
IN SAME FAMILY OWNERSHIP FOR 46 YEARS
VACANT RESTAURANT & UPPERS WITH POTENTIAL RESIDENTIAL USE
In this famous central London location, close to Aldgate East Underground Station (Hammersmith & City and District Lines) and the Whitechapel Art Gallery and under 300 yards to the City of London boundary. Directly opposite is the new Aldgate Place residential development which, when completed, will create 463 new homes.
A late Victorian terraced building comprising a Ground Floor Restaurant with Basement and a Self-Contained 3 Storey Upper Part previously used as solicitors offices.
Ground Floor Restaurant
Gross Frontage 11'3"
Internal Width 6'6" widening to 9'0"
Shop Depth 33'2"
Built Depth 64'2" and rear cold store
Basement (with WC) Approx. 332 sq ft
First Floor Approx. 470 sq ft
Second Floor (with WC) Approx. 470 sq ft
Third Floor (with Bathroom/WC) Approx. 390 sq ft
VAT is NOT applicable to this Lot
FREEHOLD offered with VACANT POSSESSION
Note 1: Planning Permission was granted on 29/5/02 (now lapsed) for converting the existing upper part to 3 self-contained flats plus a new 4th floor flat with balcony.
Note 2: An offer has been received from a Dry Cleaners to lease the ground floor and basement for a term of 10 years (without breaks) at £30,000 p.a. exclusive with a 3 month rent-free period and a rent review at the end of the 5th year.