Photo 1.jpg

Arrange a viewing

To Let

409-413 Mile End Road,, London, E3 5AJ

Preferred time to view *
Preferred days to view *

What size of space do you require?


By submitting your information, your details will be added to our property marketing database. You can amend this at any time by visiting our Preference Centre.


409-413 Mile End Road,, London, E3 5AJ


£3,000,000 / NIY 6.28%

Photo 1.jpg Photo 2.jpg

An opportunity to acquire a single let freehold office building opposite Mile End underground station (Central, District and Hammersmith & City Lines)

Property specification

  • Part two and part three storey office building with a total floor area of 16,008 sq ft, on a site of 0.26 acres (0.105 hectares)
  • Let to Gateway Housing Association Ltd (D&B Rating of 5A1) on a full repairing and insuring lease with 2.08 years to lease expiry. The lease is outside of the security of tenure provisions of the Landlord and Tenant 1954 Act
  • Income of £200,000 per annum from the occupational lease to Gateway, plus £700 per annum less £0.25 for an intermediate long lease from Obscura One GR Limited. Thereby giving a total net income of £200,699.75
  • The property has recently been refurbished by the tenant at a cost of circa £1m
  • Low base rent at £12 per sq ft
  • Asset management opportunities include re-gear the existing occupational lease, re-let the property, extend the existing property or redevelopment for a variety of alternative uses (subject to obtaining the necessary statutory and intermediate landlord consents)
  • Future potential to increase the massing on site (subject to obtaining the necessary and statutory intermediate landlord consents)
  • Our client is seeking unconditional offers in excess of £3,000,000 for its freehold and long leasehold interests, reflecting a net initial yield of 6.28% and purchaser's costs of 6.46%, subject to contract. A purchase at this level would reflect a capital value of £187 per sq ft.
  • £3,000,000 / NIY 6.28%


Located in TfL travel Zone 2 with excellent links to the City


Located in TfL travel Zone 2 with excellent links to the City

Train Stations
  • Bow 0.95km
  • Bow 1.22km
  • Limehouse 1.54km
  • Bethnal Green 1.72km

Share this property

Featured properties to invest in