This property offers a unique opportunity for those looking to invest in a mixed-use building comprising five fully self-contained flats and an adaptable commercial space, generating a substantial annual income of approximately £98,300. With nine additional residential units in the block sold on long leaseholds, this property also benefits from annual ground rent payments of £300 each.
The commercial unit is located on the lower ground floor and features an open-plan office area complemented by a kitchenette and bathroom facilities. There’s also a separate office space accessible through the communal hallway, although it lacks natural light due to its layout. The overall configuration of the residential units includes four one-bedroom flats and one two-bedroom flat, with the lower ground floor units possessing small terrace areas. However, it’s worth noting that the other ground floor flats do not have access to outdoor space. The property also includes a gated car park providing six parking spaces.
Strategically positioned at the intersection of Spurstowe Terrace and Dalston Lane, this location is highly advantageous for both residents and businesses. Directly adjacent to Hackney Downs train station, it allows for easy access to London Overground and Greater Anglia services. The neighborhood features a blend of modern residential buildings and traditional homes, along with local amenities such as a nearby Tesco Express and various retail options at the junction of Dalston Lane and Amhurst Road.
While planning permission for a two-storey extension to accommodate six additional residential units was recently declined by Hackney Council (ref no. 2021/0150), there is an indication from council representatives that they may support the development of two new residential units on one floor, pending appropriate planning submissions. This presents an enticing potential avenue for future growth within the property’s investment profile.
Additionally, the freehold is available for purchase, creating further options for investors seeking to maximize their portfolio in this rapidly evolving area.
