Colour House | Bentley Rd
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Colour House Bentley Rd
24,996 SF 100% Leased Office Building London N1 4BY $11,464,441 ($459/SF) 7.91% Cap Rate
Investment Highlights
- Close to Dalston Junction station
- 18 residential (‘sold off’) flats which are accessed via a separate adjacent dedicated residential entrance and included within the freehold title.
- The property was repositioned and comprehensively refurbished in 2021 to provide 24,966 sq ft of newly refurbished retail and office accommodation.
- Colour House is a modern and attractive commercial building designed to meet the needs of contemporary businesses and residential occupiers
Executive Summary
Colour House features a modern façade with large ‘crittal style’ windows and generous floor-to-ceiling heights providing excellent levels of natural light throughout. The building’s contemporary design integrates well with the urban landscape of Dalston. The interior spaces offer flexibility providing both open plan and customised, self-contained units to suit various business requirements.
Colour House is a modern and attractive commercial building designed to meet the needs of contemporary businesses and residential occupiers. The building was previously the Headquarters for Leyland and prior to that a factory for Moss Bros in the 1950s.
• 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.
Colour House is a modern and attractive commercial building designed to meet the needs of contemporary businesses and residential occupiers. The building was previously the Headquarters for Leyland and prior to that a factory for Moss Bros in the 1950s.
• 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 Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Subtype
Office/Residential
Building Size
24,996 SF
Building Class
B
Year Built/Renovated
1985/2020
Price
$11,464,441
Price Per SF
$459
Cap Rate
7.91%
NOI
$906,837
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
4,999 SF
Building FAR
1.79
Lot Size
0.32 AC
Amenities
- Conferencing Facility
- Raised Floor
- Security System
- Kitchen
- Accent Lighting
- Bicycle Storage
- Central Heating
- Demised WC facilities
- Natural Light
- Secure Storage
- Shower Facilities
- Air Conditioning
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Colour House | Bentley Rd
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