Wood Lane, Dagenham, London, RM8

Location:
An extensive parade found immediately at the junction with Porters Avenue & Valence Road and serves the surrounding densely populated residential catchment area. The area's principal shopping area & nearest London underground station (District Line) is located on Dagenham Heathway which is approximately 1.5 miles to the South.] The recreational amenities of Valence Park and Parsloes Park are both easily accessible. Road connections locally are principally via the (A406/ A13), which provide links to the (M11 & M25) Motorways.

Accommodation:
The property principally comprises a three-storey mixed use terraced parade comprising 3 retail units and four self-contained flats.
Tenancies & Incomes derived:

Commercial
78 Wood Lane:
Let to Erkan Koksal who has been in occupation since 2006 having renewed the Lease in 2013 for a further 15 years, subject to 5 yearly upward only rent reviews. The passing rent is £18,000pax.

80 Wood Lane:
Let to Anh Kim Do who has been in occupation since March 2011, having renewed in 2021 for 10 years at a passing rent of £11,500pax. There are pre-agreed rent increases on 15/03/27 to £12,500pax & on 15/03/30 to £13,500pax. A rent deposit of £4,000.00 is held.

80b Wood Lane:
Let to Muhammed Mursaleen on a lease which was renewed in February 2024 for 6 years, subject to a mid-term upward only rent review, at a passing rent of £10,000pax. Prior to the existing Lease, the tenant's family had been in occupation since 2012 and renewed the lease in 2018. Guarantees are in place from Mr and Mrs Ahmad who were the original Lessees. A rent deposit of £4,000.00 is held.

Residential
78a Wood Lane:
Let on a 1-year AST producing £15,600.00 per annum.

78b Wood Lane:
Let on a 1-year AST producing £15,600 per annum.

80a Wood Lane:
Let on a 6-month AST producing £15,300 per annum.

80c Wood Lane:
Let on a 1-year AST producing £17,400 per annum.

The total gross income is therefore £103,400 pax.

Rent Insurance Guarantees are in place on all residential Lettings.

Tenure:
Freehold.

Price:
£1,200,000 (One Million Two Hundred Thousand Pounds) to include the benefit of the rental income & tenancies.

Possession:
Immediate upon completion of legal formalities, subject to Occupational Tenancies as outlined above.

Legal Costs:
Each party are to be responsible for their own legal costs.

Sales Pack:
A comprehensive legal pack has been prepared by the Vendor which will be released to the purchaser's Solicitor upon terms being agreed.

Funding:
In advance of accepting an offer, our client will require a prospective purchaser to provide proof of existing funds or funding arrangements, which adequately demonstrate their ability to purchase the property.

EPC:
Shop 78 -Rating C
Shop 80-Rating D
Shop 80b-Rating D
Flat 78a-Rating C
Flat 78b-Rating D
Flat 80a-Rating C
Flat 80c-Rating D

Certificates and Reports are available on request

Viewing:
Strictly by appointment through sole agents Bennett Phillips Luton | . Contact: Simon Phillips at simon. / Marc Luton at