Andre Street Hackney, E8

This mixed-use freehold investment comprises a modern four-storey block of 17 residential and 8 Class E commercial units in central Hackney with the potential to add a further floor to the building subject to planning permission. Upon the building's completion in 2018, all residential units were sold with 125-year leases, generating an annual ground rent of £5,150. Additionally, the eight commercial units were leased on long-term agreements, contributing £235,814 in annual rental income. Together, these streams provide a total annual income of £240,964, yielding a gross initial return of 8.3% on the property.

Tenants include an art gallery, clothing brand headquarters, bar, theatre, and art supply stores.

The property has an attractive brick façade and large picture windows, and the commercial units are let to various tenants. The property includes two titles: 10 Andre Street (0.2 acres, 413 ft perimeter) and 12 Andre Street (0.16 acres, 377 ft perimeter) with a total internal space of 15,376 sq ft, of which 10,980 sq ft is commercial and 4,396 sq ft is residential.

The building is located on Andre Street, a quiet cobbled street that runs alongside railway arches. Hackney Downs Overground and Rail Station is five minutes walk from the property, and the open green space of Hackney Downs is a mere two minutes away on foot. Hackney Central Overground Station and the many amenities of the town centre are less than half a mile away.

Accommodation & Dimensions

No.10 Andre Street:
Ground Floor Unit: 112 sq m (1,200 sq ft)
First Floor Unit: 185 sq m (2,000 sq ft)
Second Floor Unit: 185 sq m (2,000 sq ft)
Third Floor Unit: 185 sq m (2,000 sq ft)

No.12 Andre Street:
Ground Floor Unit: 45 sq m (480 sq ft)
First Floor Unit: 102 sq m (1,100 sq ft)
Second Floor Unit: 102 sq m (1,100 sq ft)
Third Floor Unit: 102 sq m (1,100 sq ft)

No.10-12 Andre Street: Ground-Third Floor: 17 self-contained apartments (sold-off)

Total Commercial Area: 1,018 sq m (10,980 sq ft)

Tenure: Freehold

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