The premises comprise a ground floor shop with good sized basement and rear lower ground addition.
Location
Then property is positioned within a small local parade of shops facing the Eastern Avenue (A12) at the western end close to Redbridge train station, Central line. Easy access to the East to Ilford, Romford, to the west to the City of London, to Docklands via A406 (s) and north London by the A406 (n).
Accommodation
Ground Floor
Front office - 234.35 sq. ft (21.77 sq m)
Rear office - 226.26 sq. ft (21.02 sq m)
Lower Ground
Room 1 - 233.89 sq. ft (21.73 sq m)
Room 2 - 237.89 sq. ft (22.10 sq m)
Kitchen - 150.69 sq. ft (14 sq m)
Basement storage - 523.22 sq. ft (48.61 sq m)
Total Area - 1,615.30 sq. ft (149.23 sq m)
Terms
1st Floor: Residential flat sold off on a long leasehold for 125-year lease from August 1988 (89 years remaining), paying ground rent of £200 pa rising by £100 every 25 years.
Tenure: Freehold -
Price: Offers are sought in the region of £325,000 subject to contract.
Rates (From April 2023):
Rateable Value £11,500
Rates payable £5,738.50 pa
(Interested parties are advised to verify these figures with the London Borough of Redbridge)
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 £2000. 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
- Vacant Shop & Lower Ground
- Prominent Location
- Close to Redbridge Station
- 1st floor flat sold off (89 years remaining)
- Attractive Investment
- £325,000
- Forecourt parking for 1 car
- Electric Shutter
- Rear access
- Air conditioning