309A High Road, Loughton, Essex, IG10

LOCATION:
The property is situated at the Northern End of the High Road, immediately at the junction with Trapps Hill & close to occupiers who include Space NK, Kaspers Desert Bar, Morrisons, Bairstow Eves & Cook. Loughton Town Centre is synonymous with eateries, niche independent retailers, hair & beauty operators as well as numerous national retailers. The area is able to draw on the affluent adjoining catchments of Epping, Buckhurst Hill & Chigwell. Loughton Central Line Station is within a 10-minute walk & a number of bus routes serve the High Road with connections to Walthamstow, Chingford Mount, Epping, Ilford & Harlow.

ACCOMMODATION:
Comprising a self-contained 1st floor office accessed via a secure gated entrance from Trapps Hill. The office is laid out in mainly open plan space but also comprises two private partitioned offices, small storeroom, kitchen & M/F WC facilities. The overall floor area extends to approx 1020sq ft (94.76sq m). One parking space will be demise, located at the rear of the block.

LEASE:
A new effectively FRI Lease is to be made available for a minimum 3-year term & where applicable, subject to periodic upward only rent reviews. The lease will be drawn outside the provisions of the Landlord & Tenant Act.

RENT:
£12,000pax paid quarterly in advance. We understand VAT is not applicable.

ALTERNATIVELY

LONG LEASEHOLD INTEREST:
Offers are invited in the region of £295,000 for the benefit of our clients 115 year-long Leasehold interest.

SERVICE CHARGE:
£1,800pa which includes Building Insurance & cleaning of the common parts.

BUSINESS RATES:
Rateable Value 2024/2025: £13,500
Rates Payable 2024/2025: £6,736.50 per annum
** Based on the above RV from 1st April 2024, we understand the suite will be entitled to tapered rate relief. Prospective tenants are advised to make their own enquiries in this regard.

ADMINISTRATIVE FEE:
Upon terms being agreed and prior to Solicitor's being instructed, the prospective tenant or purchaser is to pay an administrative fee of £500 plus VAT to Bennett Phillips Luton. This fee will cover all associated administrative costs including any referencing fees incurred. In the event that the Landlord or Vendor withdraws from the transaction once solicitors are instructed, 50% of the fee will be refunded.

LEGAL COSTS:
Each party are to be responsible for their own legal fees borne in this transaction.

POSSESSION:
Immediate upon completion of legal formalities.