0 bed Block of flats (for sale) Temple Dwellings, 25-48 Temple Street, Bethnal Green, London E2

£7,500,000
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Strettons Auctions
Waltham House, 11 Kirkdale Road, London
020 8022 5209
First Published

1st Jun 2022

Last Published

24th Jun 2022

 

Features

  • Type: Block of flats
  • Bedrooms: 0
  • Listing status: sale
  • Country: England

Description

Location & Description
The property enjoys a prominent corner position on Temple Street, overlooking the pleasant, open space of Middleton Green. Temple Street is located off the Old Bethnal Green Road (B118), between Hackney Road (A1208), Cambridge Heath Road (A107) in vibrant Bethnal Green.

Transport links include local bus routes and Bethnal Green Underground Station (Central Line) or Cambridge Heath and Bethnal Green Rail Stations (Overground). Shopping amenities, cafes, bars and restaurants are available in surrounding Spitalfields, Hoxton, Shoreditch and Mile End or nearby Columbia Road and Broadway Markets.

The property represents a rare opportunity to acquire an unbroken freehold mansion block, arranged as 24 one bed flats. Fully let, the property currently produces an annualised income of £354,252. Over the past 10 years, the current owners have undertaken approximately £275,000 of works; including security gates, flat refurbishment and security lighting.

Accommodation
Temple Dwellings is late Victorian block of mansion flats. The flats are accessed from communal three storey staircases and another leading to a semi-basement. They enhance the special character of the area being of a typical scale for mansion flats of this date in a semi-industrial setting. They have a strong parapet line, are constructed of traditional materials and retain many historic features and architectural details.

The property is arranged over ground and three upper floors and has a level roof area that has a high performance felt covering over an asphalt base and a balustraded parapet, which is accessed via the 3rd floor stairwell. There is a yard to the rear of the property.

Each of the flats comprises a kitchen, living room, bedroom and bathroom. Whilst they each vary slightly in size and layout, the accommodation is fairly uniform and the average size is circa 415 Sq Ft.

Tenure
Freehold

Tenancy Details
Each of the 24 flats are let, with 20 let by way of assured shorthold tenancies, 3 holding over on periodic tenancies and one regulated tenancy.

The current passing rent is £29,520.99 per calendar month (equivalent to £354,252 per annum) however, it is likely that a total annual rental closer to £400,000 could be achievable, as recent re-lettings have been taking place at circa £1,400 pcm.

Note
Auction Surveyor - Andrew Brown
Contact - / EPC Rating
Please see the legal pack for the various EPC ratings

 

Local info for E2

Floor plan

 

Property Value Data/Graphs for E2

Property Type % Avg. current value Avg. # beds Avg. # bathrooms
Flat 80.5% £568,520 1.9 1.2
Maisonette 6.3% £526,441 2.8 1.1
Other 4.3% £996,739 2.6 1.6
Studio 4.1% £419,747 0.1 1
Terraced house 3.3% £1,110,275 3.1 1.8
End terrace house 0.7% £744,000 2.5 1.3
Parking/garage 0.6% £25,500 1 0
Detached house 0.2% £825,000 4 2

Area Information

Average Price Paid

£520,900

Sales

2335

Current Average Value

£594,963

Value Change

£74,063 14.2%

 

Current Asking Prices in E2 Average: £594,963

Property Type 1 Bed 2 Beds 3 Beds 4 Beds 5 Beds
Houses £273,499 (9) £888,526 (17) £925,071 (14) £1,435,909 (11) £1,550,000 (1)
Flats £443,624 (147) £597,422 (197) £656,303 (114) £711,875 (8) -
All £433,809 (156) £620,547 (214) £685,699 (128) £1,131,053 (19) £1,550,000 (1)

Nearby Properties

4 bed Terraced house () Grafton Street, Mayfair W1J £55,000,000
12 bed Terraced house () Upper Grosvenor Street, Mayfair, London W1K £54,500,000
12 bed Detached house () Mount Street, London W1K £54,000,000
0 bed () Brook Street, London W1K £46,000,000
6 bed Detached house () Pitt Street, Kensington W8 £45,000,000
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