48-50 Redchurch Street, Shoreditch, London E2
Freehold.
Prominent position on Redchurch Street, the premier retail pitch in Shoreditch, one of London’s most vibrant and fashionable sub-markets.
Attractive mixed-use building providing 5,603 sq ft (520.5 sq m) of retail (Class E) and three residential units, arranged over lower ground, ground and four upper floors.
Excellent connectivity with three stations being within a 12-minute walk including the recently opened Elizabeth line at Liverpool Street Station.
The three residential units have recently been comprehensively refurbished to a high specification.
Total passing rent of £297,740 per annum (56% from three residential tenants and 44% from AS Colour).
Strong retail covenant in AS Colour UK Ltd (guaranteed by AS Colour Holdings Ltd) secure for a further 6.5 years.
The tenant has recently agreed to remove its 2024 break option, demonstrating its commitment to the store.
Unprecedented demand for residential apartments across London with new rental benchmarks being achieved.
There is potential to add value through sub-division of the c.1,400 sq ft apartments to create smaller higher value units.
Offers are invited for the freehold interest.