Comprising a retail unit on the ground floor and a 3-bedroom maisonette arranged on the upper floors accessed via a rear service road.
Location
Elm Park, Hornchurch, offers a convenient and community-focused retail environment. The shopping area is centred around Elm Parade and features a variety of independent stores, local services, and amenities, The shopping area includes grocery stores, fresh produce markets, convenience shops, takeaways, and a range of personal services, such as hairdressers and barbers and restaurants.
The area is well-connected by public transport, with Elm Park Underground Station (District Line) within walking distance, providing easy access to central London and other surrounding areas. The location is also close to major roads like the A127, which allows convenient access to the M25 and other road networks, making it a well-positioned area for both commuters and families.
Accommodation
Shop - 700 sq ft (60 sq m)
Terms
Tenure: Freehold subject to existing tenancy
Tenancy information:
Shop 60m² (700 ft²) – Let to a Nails Elm Spa on a 10-year lease from Oct 2021 at a passing rent of £14,000 pax, the next rent review is Oct 2026.
Vacant Upper Floors & Planning:
The 1st & 2nd floor maisonette consists of a kitchen/diner and lounge on the 1st floor and 3 bedrooms and a bathroom on the 2nd floor currently vacant.
Under appeal in Nov 2022, planning was granted to create 3 flats by extending the ground and first-floor areas together with a loft conversion, once completed the arrangement would be as follows:
Unit 1 - Ground Floor 1-bed (behind the shop) - 52.9 m² - Garden Area
Unit 2 – First Floor 1-Bed - 55.2 m² with Balcony/Terrace
Unit 3 – 2nd & 3rd floor (loft) 2-bed - 74.8 m² with Balcony/Terrace
Plans and other documents available upon request.
Price: Offers sought in the region of £550,000, subject to contract, for the freehold interest.
VAT: The property is not elected for VAT.
Legal Costs: Each party to pay for their own legal fees.
Anti-Money Laundering: Due to recent changes in the Anti Money Laundering regulation, it is now standard procedure to undertake a Personal and Company and general AML checks, admin cost of £350 + VAT.
Holding Deposit: Tenants wishing to secure this property may be required to pay a holding deposit to Countrywide Commercial of £3000. This deposit is not refundable except if the vendor withdraws, clear title cannot be proven or the tenant’s references, AML, and Credit checks are not acceptable to the landlord. This deposit is held in our client’s account until completion.
Specification
- Freehold
- Shop Rented at £14,000 pax
- Upper Floors Vacant
- Planning for 3 flats
- Flats accessed from the rear
- Close to Elm Park Station
- Price - £550,000