• Legally binding clicktopurchase® "best offers" to be submitted by 1pm, Thursday 15th November. Exchange of contracts to occur the same day

• Located in a “trendy” and gentrified London suburb

• Prominent position on Stoke Newington High Street

• Ground floor shop under offer to Crisis UK (Total Funds £15m)

• Upper parts offering significant residential development opportunity with adjoining properties significantly higher.

• Freehold

• Offers in the region of £1m, subject to contract (reflects only £265 per sq ft gross on 1st floor existing, with significant potential to extend)

Stoke Newington itself is centred around the shops, cafes, restaurants and bars of the popular Stoke Newington High Street and Stoke Newington Church Street. The tenant mix in the area provides a selection of national multiple retailers along with independent shops, cafes, restaurants and pubs that give Stoke Newington its increasing popularity.

The subject property is situated in the heart of Stoke Newington High Street occupying a prominent position on the western side of the street, opposite Iceland and Savers and close to the junction with Stoke Newington Church Street. Other nearby retailers include Costa, Sports Direct, Halifax, Sainsbury’s Local, NatWest, Halfords, KFC, William Hill and Franco Manca.

Significantly, the property abuts The Rochester Castle public house which is significantly higher than the subject property, as are the properties immediately on the south side of the property.

The property comprises a two storey mid-terraced mixed- use building currently arranged over ground and first floor levels.

The ground floor retail unit benefits from access to a rear open courtyard. The shop is currently vacant.

The first floor currently comprises self-contained office accommodation, accessed from a staircase/hall opening on to the High Street at the side of the retail unit. The office accommodation is basic in nature as can be seen from the internal photographs.

It is suggested that the low roof and rear courtyard, over-looking the Kynaston Gardens open space at rear, offer significant potential to extend and improve the property.

In accordance with a Plowman Craven & Associates measured survey from May 2000, the property provides ground floor accommodation as follows:

We are advised that the first floor provides accommodation as follows:

*Note: the gross internal area has been estimated from the scaled lease plan which is available in the data room.

Freehold.

Crisis UK (Co. No. 4024938) has reported the following figures:

Crisis UK was founded in 1967 and, as reported on their website, is the national charity for homeless people. Crisis was setup due to the realisation of an increase in homelessness in the UK and provides education, employment, housing and well-being services to address individual needs and help homeless people transform their lives. Crisis operate from ‘Crisis Skylight Centres’ in 12 areas across England, Scotland and Wales. In 2016/2017 over 1,400 members of Crisis progressed to external education or a paid job.

Crisis’s patron has been HRH Princess Alexandra since 1988 and in addition, the charity have a range of high profile Ambassadors and Celebrity Supporters including Jo Brand, Jonathan Pryce CBE, Alastair Stewart OBE, Jeremy Paxman, Al Doyle, Sir Ian McKellen, Ed Sheeran, Chris Martin, Ellie Goulding, Richard Gere and Anthony Joshua. For more information visit: www.crisis.org.uk.

Elbagate Limited (Co. No. 04750700) are the UK partners of EAE Busbar Trunking Power Distribution and Lighting Products and supply products for clients such as Transport for London, Crossrail, Royal Mail, Heathrow Airport, Gatwick Airport, British Gas, Nissan and Hilton Hotels. For the Year End 2017 they reported Total Net Assets of £14,488. For more information visit: www.elbagate.com.

Residential Capital Values

As an indication of the attractiveness of the Stoke Newington area, it has been reported on Zoopla that the average price paid for a house in Stoke Newington over the past 12 months is approximately £685,555. This shows an increase of 42.64% in average value over the past 5 years.

It was reported by Savills in a recent press article that Stoke Newington residential property prices increased 93% over the last decade, compared with 66% across Greater London, and that a third of sales were over £1 million with an average second-hand sale price in the last 12 months at £752,514, over £100,000 more than the average across Hackney.

Our enquiries indicate that residential accommodation in the area has been selling at up to £800 - £900 per sq ft (£8,608 – 9,684 per sq m).

For example, the Cotton Exchange is a recently built residential scheme situated just west of Stoke Newington High Street, approximately 0.3 km (0.2 miles) from the subject property. The development comprises a warehouse conversion providing 35 apartments where prices achieved have been between £650-£850 per sq ft (£6,994 per sq m-£9,146 per sq m).

The Woodberry Down 8 phase Berkeley Homes scheme is located adjacent to Finsbury Park and approximately 1.77 km (1.1 miles) from the subject property. Capital values achieved on sales have been between £800-£900 per sq ft (£8,608-£9,684 per sq m).

Retail Rental Values

In support of the agreed transaction with Crisis at £32 per sq ft overall and £47 Zone A, we understand that the nearby premises at 131/133 Stoke Newington High Street was let to Costa Coffee in August 2017 on a ten year lease. Comprising 1,645 sq ft on ground and 1,449 sq ft on basement, the initial rent of £65,000 per annum equates to £35 per sq ft by applying £5.12psf to the basement.

In addition, we are advised that 120 Stoke Newington High Street was let to Horc & Co in March 2017. Comprising a ground floor area of 542 sq ft and a basement of 504 sq ft, the property was let for a term of 10 years at an initial rent of £25,000 per annum, equating to £47.44 Zone A.

We are instructed to seek offers in the region of £1,000,000 (One Million Pounds), subject to contract, for the freehold interest.

Allocating an investment yield of 6% to the retail accommodation equates to a value of only £290,000 in relation to the upper parts. This equates to £265 per sq ft based upon the approximate gross internal floor area of the first floor compared to sale values in the area in the region of £800-900 per sq ft.

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 £5,000 + VAT.

1. An opportunity to acquire a freehold investment and residential development opportunity in a “trendy” and popular North London area.

2. The property occupies a highly prominent position on Stoke Newington High Street;

3. The ground floor is under offer to the significant covenant of Crisis UK (Total Funds £15m);

4. Significant opportunity exists to extend and development the property for residential, subject to the necessary consents.

5. Attractive lot size to an investor;

6. A purchase at the asking price reflects a capital value on the upper areas at a significant discount to residential exit values, by applying a fair investment yield to the retail accommodation.