Freehold commercial investment with future development potential.
Our client asked us to offer this substantial commercial investment off market to a select number of investors.
Currently let to AVACA with a lease expiring in 2034, the building was originally occupied by Poplar Technical College and has been divided into studios since the early 1990’s and is known as the Limehouse Arts Foundation and is now let to The Association for Cultural Advancement Through Visual Art Ltd (Registered Charity No 287894) who then sublet to artists by way of licenses.
The gross internal area of the building is circa 29,118 ft2 (2,706.13 m2). This excludes the outbuildings of 180 ft2 (16.73 m2).
Strettons offered the property to a number of investors that are very active in this area and a sale was agreed at £5,000,000 and represented a net initial yield in the region of 4%.