28 Hackney Road, Shoreditch, London

Description

The property comprises 660 sq ft (61 sqm) of ground floor retail accommodation. The majority of the property comprises customer seating with an espresso bar as the primary trading space. The remainder of the property comprises a WC and staff back-of-house facilities.

Accommodation

Ground Floor Only - 660 sq ft (61 sqm)

Location

Located on the south-side of Hackney Road, a busy thoroughfare that connects Shoreditch and Hoxton to Cambridge Heath. The nearby area comprises residential and office accommodation.

Tenure / Property Information

Investment Analysis

The £455,000 guide equates to approximately £689 per sq ft for 660 sq ft of ground-floor retail accommodation. The supplied Land Registry comparables are flats/maisonettes rather than retail premises and are not reliable evidence of this property's market value. No sufficiently specific retail rental evidence, passing rent or auctioneer rent estimate is supplied. Consequently, GDV, yield and a supported maximum bid cannot be established. The lease is stated to run to 03.01.2033, with an open market rent review on 09.01.2027, but the current rent and full lease terms are unavailable.

Investment Snapshot

Strategy Recommendation

Proceed only after obtaining the current rent, full occupational lease, 2027 rent review terms, special conditions, all buyer/seller charges and VAT position. On the supplied evidence, do not bid on investment-return assumptions.

Works Required

No refurbishment works are evidenced. Allow for inspection and legal review of the retail accommodation, lease, rent review provisions and the new 250-year peppercorn leasehold interest, but no works budget can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be assessed because no supported rent, refurbishment cost or GDV is available. The proposed new 250-year leasehold interest at a peppercorn rent may assist leasehold ownership, but the evidence does not establish refinance value or lending terms. The unspecified buyer fee and possible seller or third-party charges must also be obtained.

Buy-to-Let Analysis

This is a commercial retail investment rather than a residential BTL asset. It is stated to be let to a private individual until 03.01.2033, with an open market rent review on 09.01.2027, but no passing rent or rental estimate is provided. Income yield, affordability and investment value therefore cannot be calculated. Confirm the tenant, rent, review mechanism, repairing obligations and lease enforceability before bidding.

Flip Analysis

A flip appraisal is unsupported. The supplied completed sales are flat/maisonette transactions and do not evidence retail resale value. No retail GDV, works cost or selling allowance is available, so no surplus or maximum bid can be calculated.

Investor Risks & Due Diligence

• No passing rent or rental estimate is supplied, preventing yield and value analysis.

• The 09.01.2027 open market rent review could materially affect future income, but its terms and likely outcome are unknown.

• The auctioneer buyer fee is unspecified and additional seller or third-party charges may apply.

• VAT may be charged on the sale price, subject to the seller's Special Conditions of Sale.

• The supplied completed comparables are flats/maisonettes and are not directly comparable with the retail property.

• The full terms of the existing occupational lease and the new 250-year peppercorn leasehold interest have not been provided.

Recommendation

Proceed only after obtaining the current rent, full occupational lease, 2027 rent review terms, special conditions, all buyer/seller charges and VAT position. On the supplied evidence, do not bid on investment-return assumptions.

Strategy Rating

Analysis Confidence

The property description and lease headline are supplied, but there is no rent, retail comparable evidence, EPC, cost information, buyer fee amount or full special-condition detail.