Romford Road, London
- SIZE AVAILABLE
2,689 sq ft
250 sq m
- SECTOR
Commercial property for sale
Key features
- Freehold investment
- Comprising shop & 3-bedroom maisonette
- Current income £34,200 per annum
- Romford Road location
- Rare opportunity
Description
Location - The property is situated on Romford Road (A118) in Manor Park, East London, along a parade of shops within an established residential area. Romford Road interconnects with the North Circular Road (A406), which in turn interconnects with Junction 4 of the M11. The closest train stations are Manor Park and Ilford (Elizabeth Line) and the area is served by local buses.
Description - The property forms a mid-terrace three storey building of traditional masonry construction. A barber shop is situated on the ground floor and the upper parts comprise a self-contained 3-bedroom maisonette. To the rear of the property is a workshop/store which is accessed via a rear alley, which we understand, is demised to the tenant and accessed via a pair of metal double gates. This provides two car parking spaces for the property. The accommodation is more particularly described as follows:
Ground Shop: 604 sq ft (56.1 sq m).
First Floor Workshop 1,039 sq ft (96.5 sq m).
First Floor Residential: Bathroom, kitchen, bedroom, lounge.
Second Floor Residential: 2 bedrooms.
All measurements quoted are approximate only.
Tenancies - The shop is let on a full repairing and insuring lease of 20 year from July 2012, subject to 5 yearly rent reviews. The July 2022 rent review was settled at £15,000 per annum.
The maisonette is let to the same tenant as the shop on a current Assured Shorthold Tenancy Agreement at a rent of £1,600 per calendar month, equating to £19,200 per annum.
Terms - The freehold is available, subject to the existing tenancy agreements, for £575,000
Business Rates - Newham Council have informed us that the shop has a rateable value of £10,750.
Council Tax - The flat is within Band C.
Viewings - Strictly via sole agents Clarke Hillyer, tel .
Epc - The shop has an Energy Performance Certificate rating of C. The flat has an EPC rating of D.
Energy Performance Certificates
EE RatingBrochures
Romford Road, London
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Ilford Station0.5 miles
- Manor Park Station0.6 miles
- Woodgrange Park Station0.8 miles
Notes
Disclaimer - Property reference 33142245. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Clarke Hillyer Limited, Loughton. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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