December 2015 – London: Boultbee Brooks Real Estate (BBRE), the UK-based property investors and developers; a privately owned UK investment/development company has announced the sale of Export House on Ironmonger Row to Four Daughters, an investment property company for £7,500,000.
Export House, which was acquired by BBRE more than a year ago, is an attractive period building comprising two commercial units arranged over the ground and first floor, and five residential units over the lower ground, second, third and fourth floors. Located a short walk from London’s Old Street station, the area is much sought after with tenants and occupiers and experiences high rental growth. The building totals 11,500 sq. ft. of mixed use space.
Lucy Boultbee-Brooks, Boultbee Brooks Real Estate, said: “There is a growing demand for commercial space in Shoreditch which is being driven by supply shortages in the West End, a number of new high-quality developments and refurbed commercial offices attracting tech start-ups, as well as the arrival of Crossrail in 2018.”
“Our previous development at 8 Shepherdess Walk, which is a short distance from Ironmonger Row, achieved market rents of £37 per sq. ft. in 2013 and we’re now seeing commercial lets for £55 per sq. ft. The market is strong, with investment yields below 5% for well-located commercial buildings in the area and residential property regularly achieving over £1,000 per sq. ft.”
Aurum Real Estate acted for BBRE and Hatton Real Estate advised Four Daughters.
For more information contact:
Kim Taylor/Lisa Northcott
M: 07718 158 800/07885 980 154