INVESTMENT/
DEVELOPMENT
OPPORTUNITY
London · E1 4LJ
174 -178 Mile End Road
SUMMARY
LOCATION
DESCRIPTION
E1 4LJ
SCHEDULE OF ACCOMMODATION
INVESTMENT/DEVELOPMENT OPPORTUNITY
TERMS
SUMMARY
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•
•
•
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Suitable for owner occupiers or investors
Long leasehold (lease until 2085)
Site extends to circa 0.27 acres / 0.11 ha
Total GIA 25,696 sq ft (2,387 sqm)
Excellent transport links: close to Stepney
Green Underground station
BID DEADLINE
12pm
Thursday 19 January 2017
1
174 -178 Mile End Road
SUMMARY
LOCATION
DESCRIPTION
E1 4LJ
SCHEDULE OF ACCOMMODATION
INVESTMENT/DEVELOPMENT OPPORTUNITY
TERMS
LOCATION
Drill Hall is located in the Stepney Green
area of London Borough of Tower Hamlets.
It is approximately 3.5 miles (5.6 km) east of
Central London and 1.3 miles (2 km) east of
the City of London.
The immediate area is an established retail
and residential location, with associated
amenities including nearby Stepney Green Park.
Queen Mary’s University of London Mile End
campus and Mile End Hospital are circa 0.3-miles
east of the subject site.
EXCELLENT TRANSPORT LINKS
Stepney Green Underground Station (District/
Hammersmith & City lines) is approximately
0.1-miles east of the site, providing access to:
• The City
• The West End
• East London
Bethnal Green Station and Whitechapel Station
are approximately 0.5 miles from the property.
2
174 -178 Mile End Road
SUMMARY
LOCATION
DESCRIPTION
E1 4LJ
SCHEDULE OF ACCOMMODATION
INVESTMENT/DEVELOPMENT OPPORTUNITY
TERMS
DESCRIPTION
Formerly a military Drill Hall, the building has
been used for a variety of purposes in recent years.
It is currently used as by a courier company as a
storage, office and collection depot.
The property currently comprises:
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Residential accommodation
Office accommodation
Depot garages
A sports hall
Storage facilities
LAYOUT
The site extends to approximately 0.27 acres (0.11
hectares). It comprises a main four storey building
(plus basement) with warehouse to the rear. It also
benefits from on-site car parking for circa 15 vehicles.
The sports hall, currently used for storage
Nearby Stepney Green gardens
Accommodation is arranged over basement, ground
and three upper floors.
The site is roughly ‘L’ shaped fronting on to Mile End
Road to the north and Hayfield Passage to the West. It
is bound by retail to the east and west and residential
housing immediately to the south.
The main vehicle access is direct from Mile End Road,
with a secondary access from Hayfield Passage.
3
174 -178 Mile End Road
SUMMARY
LOCATION
DESCRIPTION
E1 4LJ
SCHEDULE OF ACCOMMODATION
INVESTMENT/DEVELOPMENT OPPORTUNITY
TERMS
SCHEDULE OF ACCOMMODATION
Floor
Basement
Ground floor
First floor
Second floor
Third floor
TOTAL
SQM
47
1,109
898
202
131
2,387*
SQ Ft
506
11,935
9,667
2,176
1,412
25,696*
*PLEASE NOTE THE ABOVE AREAS ARE ESTIMATES ONLY
4
174 -178 Mile End Road
SUMMARY
LOCATION
DESCRIPTION
E1 4LJ
SCHEDULE OF ACCOMMODATION
INVESTMENT/DEVELOPMENT OPPORTUNITY
TERMS
INVESTMENT / DEVELOPMENT OPPORTUNITY
The site was formerly occupied by Barts Health
NHS Trust, for office and staff accommodation,
who have the benefit of the long leasehold interest.
The site is currently partly sub-let to Revisecatch
Ltd (Owned by the Royal Mail) who occupy part
of the ground and first floor for a courier service.
Their lease ends on 31 July 2017.
OPPORTUNITY
The property requires refurbishment and
modernisation. There are opportunities for either
an owner occupier or investor for potential office,
D1, leisure and retail uses subject to planning.
There is also the opportunity to generate rental
income by subletting the three residential
apartments, located on the 2nd and 3rd floors.
Subject to obtaining freeholder and planning
consent, the site offers significant redevelopment
potential. The surrounding area benefits from
significant regeneration, particularly in
neighbouring Whitechapel.
The spacious car parking area
The office area
5
174 -178 Mile End Road
SUMMARY
LOCATION
DESCRIPTION
E1 4LJ
SCHEDULE OF ACCOMMODATION
INVESTMENT/DEVELOPMENT OPPORTUNITY
TERMS
TERMS
FIXTURE & FITTINGS
ADDITIONAL INFORMATION
Any items of furniture, or other items left in
the building, will become the responsibility of
the purchaser on completion.
Additional information including legal documents and
survey information is available upon request.
TENURE
The interest being sold is the long leasehold
with an unexpired term of 68 years.
VAT
The property is not elected for VAT.
VIEWINGS
The property may only be inspected strictly by prior
appointment through Essentia Trading Ltd. A number
of open days will be held to facilitate viewings. The
dates of these will be provided to potential purchasers
on request.
TERMS
Unconditional offers are invited for the
leasehold interest via informal tender.
All bids must be submitted on a specific
bid proforma. Tenders should be received
by midday on Thursday 19th January 2017.
These particulars are not an offer or contract, nor part of one. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the
correctness of each statement. Essentia Trading Ltd does not have any authority to make any representations or warranty about the property. The photographs show
only certain parts and aspects of the property at the time when the photographs were taken. Areas, measurements and distances given are approximate only.
Descriptions of a property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of statement of fact.
October 2016. Essentia Trading Ltd registered in England and Wales under company number 08493283 with its registered office at St Thomas’ Hospital, F04 Gassiot
House, Westminster Bridge Road, London, SE1 7EH.
6
TITLE
CONTACT
Jason Pereira
[email protected]
020 7188 0911
Stephen Edgar
[email protected]
020 7188 9698
www.essentia.uk.com/Drill-Hall
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