Colour House, 19 – 29 Balls Pond Road & 2 Bentley Road, Dalston, London N1

Colour House, 19 - 29 Balls Pond Road & 2 Bentley Road, Dalston, London N1
  • Multi-let commercial property investment located in the heart of Dalston.
  • 0.3-acre freehold site located within very close proximity (c.150m) to Dalston Junction station.
  • Originally a factory for Moss Bros in the 1950s and latterly the Headquarters of Leyland Paint, the property has recently been redeveloped in 2021 to provide 24,966 sq ft of newly refurbished retail (6,970 sq ft) and offices (17,996 sq ft) arranged over ground, mezzanine and 3 upper floors.
  • High quality office specification which includes a mixture of refurbished Cat A offices and ‘fitted’ office accommodation, communal roof terraces and tenant amenity.
  • Outstanding ESG credentials - the office space achieving and impressive Energy Performance Certificate (EPC) rating of A.
  • The retail element is single let to Leyland SDM and the offices are multi-let producing a total current rent of £771,957 per annum reflecting a low commercial rent of £30.59 per sq ft overall and includes a residential ground rent of £8,150 per annum.
  • Various asset management opportunities to further enhance rental income and achieve Net Area gains.
  • Weighted Average Unexpired Lease Term (WAULT) of 5.9 years to expiry (2.4 years to break).
  • We are instructed to seek offers in excess of £9,150,000 which reflects a Net Initial Yield of 7.91% (assuming purchaser’s costs of 6.68%) and a low capital value of £366 per sq ft.

Property contacts

Dan Drury

Partner

T +44 207 747 0124M +44 7733 011 096

Patrick Clark

Senior Surveyor

T +44 207 747 0128M +44 7403 431 432

Jonathan Martyr

Partner

T +44 207 747 0123M +44 7787 533 996

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