Canning Town is located within the London Borough of Newham and situated approximately 7 miles (11 km) east of Central London, 2.3 miles (3.7 km) east of Canary Wharf, 3.2 miles (5.1 km) South of Stratford, 9.6 miles (15.4 km) south of Romford and 17.4 miles (28 km) north east of Dartford Crossing.

The area benefits from good road communications being located along the A13 Newham Way, 3.5 miles (5.6 km) east of the North Circular Road and 20 miles (32 km) east of Junction 31 of the M25 Motorway. The intersection of the M25 Motorway and the M20 Motorway is 18 miles (29.9 km) to the south east and the intersection of the M25 Motorway and the A12 is approximately 21 miles (33.7 km) to the north east.

The location is served by Canning Town underground station (Jubilee Line and DLR), providing a journey time to London Liverpool Street in approximately 19 minutes and to Bond Street in approximately 24 minutes. Canning town is served by multiple bus routes in all directions.

London City Airport is located approximately 2.5 miles (4 km) to the south, London Heathrow Airport is approximately 20 miles (32 km) to the West, London Stansted Airport is approximately 32 miles (51.4 km) to the north east and Southend Airport is approximately 35.3 miles (56.8 km) to the East.

The Canning Town and Custom House Masterplan is a phased regeneration scheme which will see new developments, public squares, parks, improved road networks and infrastructure around Canning Town and Custom House. (Source: www.newham.gov.uk).

The London Borough of Newham is estimated to have a population of 307,984, the highest figure of all inner London boroughs and the seventh highest in Greater London. According to GLA projections, Newham’s population is due to reach approximately 428,500 by 2041. (Source: aston-mansfield.org.uk)

The property has been measured by BKR Floor Plans and provides the following Net Internal Areas:

The measured survey report is available to download and will be assigned to a purchaser at a cost of £325 + VAT.

The property is under offer to Amuse East London Ltd on a new lease for a term of 20 years with an option to determine at the end of the 10th year. The agreed initial rent is £38,000 per annum. The lease incorporates 5 yearly upwards only rent reviews, a three month rent free period and the tenant is to provide a security deposit of £20,000.

The agreed letting has been agreed in competition. The unit was offered to the market seeking offers in the region of £25,000 per annum, with the agreed rent reflecting the strong demand for the location.

We are instructed to seek offers the region of £720,000 (Seven Hundred and Twenty Thousand pounds), subject to contract, reflecting a net initial yield of 5.0% after allowing for purchase costs at 5.34%

Please note that agreed letting will not be concluded prior to sale, leaving the purchaser with the option to conclude. Should a purchaser wish to develop the residential element, we suggest that the estimated rental value for a 1 bedroom converted flat above a retail premises on Barking Road is in the region of £1,250 per calendar month, with a capital value in the order of £250,000 per flat.

Please note that a purchaser will be re-charged the costs of surveys and searches which are provided in the data room.

Please note a purchaser will be charged a transaction fee of £2,500 + VAT.

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