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Unit 1, 21 Wapping Lane, Tower Hamlets, E1W 2RN

United Kingdom

*GUIDE PRICE £690,000

Property Viewings

Viewings have not yet been scheduled for this property.

Property Summary

  • Virtual freehold restaurant investment
  • Bar/restaurant with approximately 10 years unexpired
  • Prominent corner unit
  • Located within Ballymore's residential development near Tobacco Dock
  • Let to Il Bianco Limited
  • Asset management opportunity
  • Currently producing £55,000 per annum

Contact Us

Simon Bailey
Simon Bailey
Property Agent, here to help.

Contact Us

Simon Bailey
Simon Bailey
Property Agent, here to help.


Property description

A modern restaurant unit arranged over ground floor and basement totalling approximately 246.81 sq m (2,657 sq ft) forming part of a larger, modern residential development. Externally there is additional terrace seating to the front. The unit currently trades as an Italian Restaurant - www.ilbianco.co.uk


Wapping is a district in East London in the London Borough of Tower Hamlets. It is situated between the north bank of the River Thames and the ancient thoroughfare simply called The Highway. Wapping's proximity to the river has given it a strong maritime character.

21 Wapping Lane was developed by Ballymore in 2012 and forms part of a larger residential development of 382 flats. The first major new building in Wapping for ten years, it brought a modern intervention to one of London’s oldest maritime neighbourhoods in a way that is sensitive to the area’s history soaked atmosphere. 

The property is located on the east side of Wapping Lane at its junction with Cobblestone Square opposite popular Tobacco Dock. Shadwell and Wapping overground railway stations are both within a short walking distance.


London Borough of Tower Hamlets www.towerhamlets.gov.uk


Leasehold for a term of 999 years from completion at a fixed ground rent of £100 per annum

Additional Details

AddressFloorAccommodationTenantLeaseRent (£ pa)Rent Reviews
21 Wapping LaneGround floor/basement

246.81 sq m (2,657 sq ft)

Il Bianco Limited t/a Il Bacino15 years from 27/02/2017 (1)£55,000 (2) (3)5 yearly

(1) A rent deposit of £11,250 is held

(2) The rent reflects £20.70 per sq ft

(3) The rent increased from £45,000 pa to £55,000 with effect from February 2022

The auctioneers have not measured the property. Floor areas have been provided by the vendor.



VAT is applicable to this sale, please refer to the legal documents for further details.

Energy Performance Indicator

Please refer to Legal Documents

*Terms & Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,295 (inclusive of VAT) for all properties up to £49,999, and £2,000 (inclusive of VAT)for all properties £50,000 and above charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (inclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,795 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. All lots sold “Subject to Vendor Confirmation” will be subject to the acceptance and confirmation by the Vendor. The highest bid will be presented to Vendor, the vendor will have to either accept, decline or make a counter offer the highest bid within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising the offer the Vendor is willing to accept. The Highest Bidder will have to either accept or reject the Vendor’s counteroffer. The Vendor reserves the ultimate right, apart from the auctioneer, to accept and to decline to sell to the highest or any bidder, without giving any reasons.
  8. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.
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