10 Quaker Street, Shoreditch, London

Description

Investment opportunity secured upon a detached purpose-built block, internally arranged to provide two retail units and eleven self-contained flats. The lessees have not elected to take up their rights of pre-emption. The freeholder does not have the right to manage and insure the building. Possible development potential within the roof space, subject to consents. Pre-Application Advice has been received for the addition of three self-contained flats.

Accommodation

Two retail units and eleven self-contained flats. Proposed roof-space development may comprise two 2-bedroom flats and one penthouse, subject to obtaining all necessary consents.

Location

Situated on the corner of Quaker Street and Wheler Street, east of Commercial Street. Local shops and amenities are available along Commercial Road and Brick Lane, with Old Spitalfields Market nearby. Shoreditch High Street station is approximately 100 metres (350ft) to the north. Bus services run along Commercial Road. The A10 provides access to the M25 and M11 motorways. Weavers Fields and Victoria Park are within close proximity.

Tenure / Property Information

Investment Analysis

The £50,000+ guide is the only current price evidence. A 2017 completed sale of the same address at £87,000 provides historical context but is not a current valuation and is not directly comparable without transaction and lease details. No ground-rent schedule, lease terms, income, purchaser costs, development costs or current valuation evidence has been supplied, so GDV, yield and maximum bid cannot be reliably calculated. The asset comprises a freehold interest in a block containing two retail units and eleven flats, with possible roof-space development subject to consents.

Investment Snapshot

Strategy Recommendation

Treat as a due-diligence-led freehold ground-rent and potential development acquisition only. Do not bid on yield or roof-space potential until the leases, ground-rent income, title, management obligations, pre-emption position, planning advice and full costs are verified.

Works Required

No confirmed refurbishment works are evidenced. Investigate the roof-space proposal for three flats, including planning, building-control, structural, fire-safety, services and leaseholder/freeholder consent requirements. Review the ground-rent schedule, all leases and the implications of the July 2026 £11,500 lease extension for Flat 10.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because there is no supported income, refurbishment budget, current value, post-development value or refinancing evidence. The roof-space opportunity may be relevant, but it remains subject to all necessary consents and its costs and value are unknown.

Buy-to-Let Analysis

BTL analysis is not applicable on the supplied evidence because this is a freehold ground-rent investment rather than a stated buy-to-let acquisition, and no passing ground rent or other income figures have been provided. A yield cannot be established.

Flip Analysis

A flip assessment cannot be completed. The only current price indicator is the £50,000+ guide, while no supported current GDV, development budget, selling costs or confirmed development consent has been supplied. The 2017 £87,000 same-address sale is historical only.

Investor Risks & Due Diligence

• Ground rent is stated to double in 2028, but the current rent and resulting amounts have not been supplied.

• The freeholder does not have the right to manage or insure the building, creating uncertainty over control and obligations.

• The roof-space proposal for three flats is only potential and remains subject to all necessary consents.

• The July 2026 lease extension for Flat 10 cost £11,500, but its effect on the freeholder's income and lease terms is not supplied.

• Lessees have not elected to take up rights of pre-emption, but the legal scope and status of those rights should be verified in the auction legal pack.

• Additional seller or third-party charges may apply, but no amounts are supplied.

• The 2017 same-address sale is historical and may not reflect current value.

Recommendation

Treat as a due-diligence-led freehold ground-rent and potential development acquisition only. Do not bid on yield or roof-space potential until the leases, ground-rent income, title, management obligations, pre-emption position, planning advice and full costs are verified.

Strategy Rating

Analysis Confidence

The evidence confirms the freehold structure, block accommodation, guide price and potential roof-space scheme, but omits ground-rent income, lease schedules, costs, consents, current valuation and development feasibility information.