Market Place, Romford, London, RM1
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- SIZE
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- SECTOR
Mixed use property for sale
Key features
- Mixed-use building comprising 2 x commercial units and office space across the upper floors totalling 9,504ft²
- Part let with one of the retail units let producing £15,000pa and the other vacant, with an ERV of £20,000pa
- Prior approval for conversion of the office space to 9 x large residential units (2 x 1 bed, 5 x 2 bed & 2 x 3 bed) totalling 6,975ft² with potential for additional units
- Offers invited in the region of £1,800,000
Description
The existing property comprises a mixed-use building known as Tollgate House which consists of 2 x ground floor commercial units extending to approximately 2,250ft².
The first, second and third floors comprise vacant office space which extends to approximately 7,254ft² and subject to a prior approval application for conversion to residential.
LOCATION:
Tollgate House occupies a prominent position on Market Place, within Romford town Centre.
Romford train station is a 9-minute walk (0.5 miles) from the property and currently provides National Rail services and Elizabeth line services (Crossrail) into London, with journey times including 18 minutes into London Liverpool Street and 35 minutes to Bond Street.
PLANNING:
A prior approval application (reference: J0013.23) was granted on 22nd November 2023 for the change of use of the first, second and third floor offices at Tollgate House to create 9 x residential units (2 x 1 bed, 5 x 2 bed & 2 x 3 bed) totalling 6,975ft².
Now that the principle of residential has been established there is potential to re-configure the proposed plans and create additional units, subject to obtaining necessary consents.
TENANCY:
Unit 1a Tollgate House is let to CRC (London) Limited until 19th September 2026 at a passing rent of £15,000 per annum. Unit 2 and the upper parts are currently vacant.
TENURE:
The majority of Tollgate House will be sold freehold with part of the first floor at Tollgate House sold on a long lease with 133 years remaining.
VAT:
We understand the property is not elected for VAT.
TERMS:
Offers invited in the region of £1,800,000.
Brochures
Market Place, Romford, London, RM1
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Romford Station0.3 miles
- Gidea Park Station1.0 miles
- Emerson Park Station1.8 miles
About Kingsbury, London
32-34 Baker Street Weybridge Surrey KT13 8AU
Notes
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