159 Hoxton Street Hoxton London N1 6PJ

159 Hoxton Street
Hoxton
London
N1 6PJ

Central London Retail Investment

Comprises a Double-Fronted Shop Unit
Let to The Ministry of Stories (a registered Charity) until 2031 (subject to option)
Rent Increases in line with the Retail Price Index in 2028,2029 and 2030
Situated in a Fashionable Central London Suburb
Approximately 1 Mile North of the City of London
Mixed-Use Area with Nearby Occupiers Including Domino's, Poundland and an Eclectic Mix of Local Retailers
VAT-Free Investment

Lot
4
Auction
9th July 2024
Rent
£36,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction
On Behalf of a Charity

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Central London Retail Investment

Comprises a Double-Fronted Shop Unit
Let to The Ministry of Stories (a registered Charity) until 2031 (subject to option)
Rent Increases in line with the Retail Price Index in 2028,2029 and 2030
Situated in a Fashionable Central London Suburb
Approximately 1 Mile North of the City of London
Mixed-Use Area with Nearby Occupiers Including Domino's, Poundland and an Eclectic Mix of Local Retailers
VAT-Free Investment

Lot 4
Auction 9th July 2024
Rent £36,000 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Behalf of a Charity

Property Information

Location

Miles: 1 mile north of the City of London, 4 miles west of Stratford & Queen Elizabeth Olympic Park
Roads: A10, A501, A1208
Rail: London Liverpool Street, Hoxton Overground
Air: London City, Heathrow, Stansted & Gatwick Airports

Situation

Hoxton is a popular and fashionable Central London suburb situated approximately 1 mile north of the City of London. The property is situated on the west side of Hoxton Street between Crondall Street and Homefield Street. The immediate locality is a mixed Residential and Commercial area with Hoxton Library, Hoxton Hall, Access Creative College all nearby and neighbouring occupiers including Domino's, Poundland and an eclectic range of local retailers. The busy Hoxton Street Market is hosted every Saturday, which is the oldest street market in Hackney.

Tenure

Long Leasehold. Held for a term of 125 years from 1st September 2001 at a fixed rent of £1 per annum exclusive.

Location

Miles: 1 mile north of the City of London, 4 miles west of Stratford & Queen Elizabeth Olympic Park
Roads: A10, A501, A1208
Rail: London Liverpool Street, Hoxton Overground
Air: London City, Heathrow, Stansted & Gatwick Airports

Situation

Tenure

Long Leasehold. Held for a term of 125 years from 1st September 2001 at a fixed rent of £1 per annum exclusive.

Description

The property comprises a double fronted ground floor retail unit that forms part of a larger building containing residential flats. The property also benefits from access to the rear from Regan Way.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C

Description

The property comprises a double fronted ground floor retail unit that forms part of a larger building containing residential flats. The property also benefits from access to the rear from Regan Way.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.	Rent Review (Reversion)
Ground	Retail	109.92	(1,183)	THE MINISTRY OF STORIES (CRN: 07317370)(2)	8 years from 01/08/2023 (3)	£36,000	01/08/2028, 01/08/2029 and 01/08/2030 (4) (31/07/2031)
Total Approximate Floor Area		109.92	(1,183)			£36,000

(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/71619068).
(2) The Ministry of Stories (CRN 07317370) is a registered charity under charity number 1138553) dedicated to helping children and young adults develop writing skills (www.ministryofstories.org).
(3) The lease provides for a mutual option to determine the lease on 01/08/2027.
(4) The lease provides for the rent to be increased in line with the Retail Price Index on 01 August 2028, 2029 and 2030.
(5) There has been water ingress from a small area of flat roof at the rear of the property, The managing agents acting for the Freeholder have arranged for a contractor to repair the flat roof. Scaffolding is now in place for these works.
(6) The property is subject to a notice to complete for a sale and this will expire on 1 July 2024 and the contract for sale will then be rescinded.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.