This mixed-use property features five self-contained flats alongside a commercial unit, offering an attractive income stream of approximately £98,300 per year. The building also has nine long leasehold flats within the block that generate ground rents of £300 annually, adding another layer to its investment appeal.
The commercial space is situated on the lower ground floor and includes an open-plan office area complemented by a kitchenette and bathroom. Additionally, there’s a separate office and storage area accessed from a communal hallway. Although the main office benefits from natural light through a roof light, the meeting room lacks direct sunlight, presenting an opportunity for creative renovations to enhance this aspect.
In terms of residential offerings, the property comprises four one-bedroom flats and one two-bedroom flat. Notably, two of the lower ground floor units come with small terrace areas, while the remaining flats on the ground floor do not feature outside space. The gated car park provides six dedicated parking spots, which is a significant asset in this urban location.
Positioned at the intersection of Spurstowe Terrace and Dalston Lane, this property boasts excellent connectivity due to its proximity to Hackney Downs train station, which offers both London Overground and Greater Anglia services. The surrounding neighborhood is characterized by a blend of residential flats and period homes, with convenient amenities such as a Tesco Express nearby and additional retail options available at the junction of Dalston Lane and Amhurst Road.
While planning permission for a two-storey extension providing six additional residential units was recently declined by Hackney Council (ref no. 2021/0150), there is potential for development as local authorities have indicated openness to constructing two residential units on one floor, pending planning approval. This flexibility presents a unique opportunity for investors looking to enhance or expand their portfolio in a vibrant area with ongoing demand for housing.
