480-510 Larkshall Road, E4 9HH
£6,000,000.00, Sold
Ref No. JLLATC70313
For Sale, Investment

Location 480-510 Larkshall Road, E4 9HH, Greater London, London

Size 19785.00 ft2
(1838.03 m2)

Description Opportunity to acquire reversionary freehold office investment with development potential in Waltham Forest. 


The existing building is arranged over two storeys (ground and first), comprising c.19,785 sq. ft. GIA and is split into 4 buildings, each with self contained entrances. The current income for the property totals £218,785pax, with the longest leasehold running until 2021. We understand that all leases have been executed outside the 1954 Landlord and Tenant Act. 

The building possesses asset management potential as well as future development potential upon expiry or termination of the existing leases. We believe the existing office space is under let and a rent of £22.50 per sq. ft. could be achieved, which would create an ERV of c.£362,000pax. There is also potential (stpp) to add an additional floor to create another 10,000 sq. ft. of space which could lift the ERV to c.£587,000pax. Alternatively, a buyer could look at obtaining permitted development on all of the office accommodation and convert to residential. We believe if a floor was added on top then you could create c.60 residential units. 

In addition to the existing office space, the subject property benefits from a large rear car park with approximately 70 space. With this included the total site area measures c.28,995 sq. ft. 

East London has seen some of the most dramatic rises in property values in recent years and this is reflected in both residential sales and commercial rents. This improvement has led numerous well known London developers to invest in these areas, which can be clearly seen opposite, where McLaren have redeveloped their Highams Green Site. This development is now complete and provides 253 homes with a 55,000 sq. ft. Tesco Superstore https://www.youtube.com/watch?v=Gyet6L3JXqE 

Property Type Office

https://realla.co/480-510-larkshall-road-480-510-larkshall-road

Property Contacts:

  • Chris Henshall
    +44 (0)207 852 4692
Property Location:



Disclaimer:

JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:-
a. the particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;
b. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;
c. no person in the employment of JLL has any authority to make or give any representation or warranty whatever in relation to the property;
d. Any images may be computer generated.  Any photographs show only certain parts of the property as they appeared at the time they were taken.
For properties in Scotland:
e. This correspondence is expressly subject to completion of formal legal missives in accordance with Scots Law
Copyright © Jones Lang LaSalle IP Inc 2017. All rights reserved.