35 Cremer Street, London

Description

The property comprises a high yielding retail investment arranged over ground and basement within a constructed mixed use building. The property occupies a prominent position on a high footfall thoroughfare directly opposite Hoxton Train Station. The property is fully let to Oyf Studio 1 Ltd on a new 10 year lease expiring April 2036.

Accommodation

Arranged over ground and basement; 1,535 sq ft (142 sq m). Please refer to floorplan.

Location

35 Cremer Street occupies a position on Cremer Street in Hackney, directly opposite Hoxton Overground Station and within walking distance of Old Street and Liverpool Street. The property forms part of a mixed-use parade adjoining the Hoxton Arches area and is close to Kingsland Road, Hackney Road and Shoreditch.

Tenure / Property Information

Investment Analysis

Commercial retail investment comprising 1,535 sq ft over ground and basement, fully let to OYF Studio 1 Ltd on a new 10-year lease expiring 28 April 2036. The £430,000 guide implies approximately £280 per sq ft, but no passing rent, rent review terms, tenant covenant information, service charge, business rates, insurance, buyer costs or formal valuation evidence has been supplied. The two Land Registry entries relate to the same address but are older freehold transactions and are not directly comparable to the offered 999-year long leasehold interest. Market value, GDV and investment yield cannot therefore be reliably established.

Investment Snapshot

Strategy Recommendation

Consider only as a specialist commercial income investment after verifying the passing rent, lease obligations, tenant covenant and all acquisition costs. Do not bid on yield or resale assumptions that are absent from the evidence.

Works Required

No refurbishment works are evidenced or assumed. Due diligence should focus on the lease, rent, tenant covenant, repair obligations and condition of the ground-floor and basement retail accommodation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be assessed reliably because no refurbishment budget, passing rent, market rent, GDV or refinance valuation is supplied. The long lease and existing occupation may support an income strategy, subject to satisfactory lease and tenant due diligence, but refinance proceeds cannot be estimated.

Buy-to-Let Analysis

This is a commercial retail investment rather than a residential BTL. The property is fully let, but no passing rent or auctioneer rent estimate is provided, so rental income, net income and yield cannot be calculated. The advertised £1,450 pcm two-bedroom residential listing is not relevant evidence for this retail property.

Flip Analysis

A resale or flip analysis is unsupported. The supplied completed sales are historic freehold transactions at the same address and do not establish the value of this 999-year leasehold retail interest. No selling-cost allowance or current comparable evidence is available.

Investor Risks & Due Diligence

• Passing rent and net operating income are not disclosed, preventing yield and affordability analysis.

• The offered interest is a 999-year long leasehold, while the supplied same-address Land Registry comparables are freehold and historic.

• Tenant covenant strength and lease details beyond the expiry date have not been supplied.

• Buyer premium, administration charge and other acquisition costs are not provided.

• Ground and basement condition, repair obligations, service charge and insurance liabilities are not evidenced.

• The property is occupied by a commercial tenant, so future reletting and resale depend on commercial demand and lease terms.

Recommendation

Consider only as a specialist commercial income investment after verifying the passing rent, lease obligations, tenant covenant and all acquisition costs. Do not bid on yield or resale assumptions that are absent from the evidence.

Strategy Rating

Analysis Confidence

Property description, tenure, occupancy, lease expiry, accommodation and guide price are supplied, but the critical passing rent, lease rent provisions, costs, condition and current comparable evidence are missing.