For Sale

Freehold Retail Warehouse Investment Opportunity in a Prime Hackney Location

107-117 Morning Lane, London E9

Offers in excess of £6,000,000

Property Type:
Commercial
Sub Type:
Retail
Tenure:
Freehold
Net Initial Yield:
7.34%
Site Area:
14,505 sq.ft [1,348 sq.m]

Tenancy

Single-let to Nike Retail B.V. expiring 28th February 2026 (approximately 4.80 years unexpired).

Income

£469,410 per annum reflecting £30.00 per sq ft on the area defined in the lease.

Features

  • Freehold
  • Located in the heart of Hackney along a prominent stretch of Morning Lane
  • Situated at the centre of Hackney’s fashion hub adjacent to Hackney Walk
  • Excellent transport connectivity with four London Overground Stations within 11 minutes’ walk
  • Retail warehouse developed in 2015, extending to 14,505 sq ft (1,347.6 sq m) GIA arranged over lower ground, ground and two upper floors
  • Single-let to Nike Retail B.V. expiring 28th February 2026 (approximately 4.80 years unexpired)
  • Total passing rent of £469,410 per annum, reflecting £30.00 per sq ft on the area defined in the lease
  • Longer term asset management opportunities for change of use including alternative E Use Class and industrial
  • Opportunity to participate in the regeneration of the wider area in accordance with Hackney’s Local Plan
  • Offers sought in excess of £6,000,000, subject to contract and exclusive of VAT
  • A purchase at this level reflects an attractive Net Initial Yield of 7.34% and a capital value of £414 per sq ft, assuming purchaser’s costs of 6.63%

Description

On the Instructions of J.Wills MRICS and N.Pask MRICS as Joint Fixed-Charge Receivers.

The property is situated in the vibrant and eclectic London Borough of Hackney, an area synonymous with fashion, food and the creative industries.

Located on the northern side of Morning Lane, opposite its junction to Chatham Place and a short walk to Mare Street, within the heart of Hackney’s fashion district.

Developed in 2015, the property comprises a self-contained retail warehouse building of steel frame construction.  The property provides 14,505 sq ft (1,347.6 sq m) GIA of modern retail and ancillary accommodation arranged over lower ground, ground and two upper floors.

The property is accessed via an attractive double-height glassed entrance fronting Hackney Walk and an additional entrance to the northern side of the building.

The building benefits from a single person passenger lift that serves all floors, single stair core, c.4m slab to slab heights and exposed services.