DOBBIN AND SULLIVAN JUNE 2020 AGENCY UPDATE
Despite the ongoing turmoil created by Covid-19 Dobbin and Sullivan have managed to remain active in a very challenging market. We are once again commencing viewings, inspections and returning to some normality. Below is a summary of a few of our completed transaction in the last 12 months.
RETAIL
255 Rye Lane, Peckham SE15
Dobbin and Sullivan let 1,967 sq ft on Rye Lane in Peckham to Southwark Council. It is to be used as a walk-in centre for the local community. We worked alongside the local planning authority to secure the required D1 use and achieved a rent of £50,000 per annum. Subsequently another vacant unit within the same development has been placed under offer in April 2020.
211 Ilford Lane, Ilford, IG1
This unit on the popular local parade of Ilford Lane was let in January of 2020 at a rent that rises from £33,000 to £35,000 over the initial 5 years of the lease. The lease was agreed for 15 years and the unit will be used as a confectionary store.
367 Hoe Street, Walthamstow, E17
This small retail unit was put on the market in February of 2020 and the transaction was completed before the end of April. The rent was agreed at the asking price of £19,000 per annum and the ingoing tenant will use the space as an accountant’s office.
INDUSTRIAL
43-49 Fowler Road, Hainult, IG6
Having dealt with the acquisition of 43-49 Fowler Road on behalf of a private client. We have been assisting with the ongoing development which is now within weeks of completion. The development totals 82,365 sq ft of high quality industrial and office space with private parking on site. For further detail on the available space please get in touch with Nick Robinson or Ajay Tohani on 020 8221 9610
Land at Pier Road, North Woolwich, E16
Dobbin and Sullivan let 26,000 sq ft to the Compass Group on an initial 6-month agreement in April of 2020. Compass Group utilised the space to assist with the temporary Nightingale Hospital in London’s Excel Centre. They will continue to use the site for various infrastructure projects in the capital. Approximately 70,000 sq ft of land is still available, for further information please contact Nick Robinson or Chris Harding on 020 8221 9610.
Land at Rick Roberts Way, Stratford, E15
Dobbin and Sullivan let the 217,800 sq ft in Stratford to Big Motoring World for £2psf in July 2019. The agreement was subject to a landlord break in March of 2021. An additional section of the land, fronting onto Stratford High Street, had previously been let to Padel tennis club.
OFFICE
Solar House, Stratford, E15
This small office unit was let on an inclusive rent of £26,000 in December of 2019. The unit is within central Stratford on the 3rd floor of Solar House and totals 607 sq ft. The client in this transaction no longer needed their full office and were able to generate income from sub-letting a section of their office.
Beckton Health Centre, Beckton, E16
This property was acquired for a private client in June of 2019. The rent agreed was £96,000 per annum on a 15-year term. Dobbin and Sullivan worked with the ingoing tenant to negotiate heads of terms, attend meetings and liaise with solicitors. Following this we acted for the same tenant to surrender the lease on a small warehouse unit in the same area.
New Garden Quarter, Stratford, E15
The premises at New Garden Quarter were located on the ground floor of a residential high-rise development by Telford Homes and Notting Hill Genesis. Unit 3 sold in March of 2020 for £650,000 on a 999 year lease. Two other units, one nursery and one retail / office space have also been sold by Dobbin and Sullivan within the same development. Two further units are currently available on this development with a mixture of use classes including restaurants and offices. For further detail on these spaces please contact Nick Robinson on 020 8221 9610.
Dobbin and Sullivan are actively looking for new instructions and have a number of properties currently live. Please get in touch with the team on 020 821 9610 and we will be able to help with any commercial property queries.