The property is arranged over the ground floor, rear storage, kitchen and 2 x WCs.
Small demised rear yard accessed via a service road.
Location
The property is located within a very popular shopping parade that comprises of 30 retail units including Nisa Extra, Tesco Express, Wenzels, Boots the Chemist, Lloyds Pharmacy as well as independent businesses.
Hainault & Grange Hill underground station are within a few minute’s walk and offers easy access into central London via the Central line.
Accommodation
Ground Floor
Frontage - 18.11 ft (5.52 m)
Shop Area - 662.30 sq. ft (61.53 sq m)
Storage Area - 212.91 sq. ft (19.78 sq m)
Total Area - 875.21 sq. ft (81.31 sq m)
2 x WCs & Kitchen Area
Terms
Permitted use: The property benefits from an E(a) Class use ‘Display or retail sale of goods, other than hot food.
Tenure: The property is available by way of an assignment of our client’s 10-year lease that expires 26th March 2029 and is within the 1954 LL & T Act.
Rent: £16,500 pax
N.b The rent review in March 2024 was served by the landlord at £21,950 pax, this has not been agreed by the present tenant and is still in negotiation.
Rent Deposit: The ingoing tenant will be required to provide a security deposit equivalent to 6 months’ rent i.e. £8,250.
Premium: A premium is sought for the valuable lease, offers in the region of £65,000
Service Charge: TBC
Rates:
Rateable Value £13,500
Rates payable: £6,736.50
(Parties are advised to verify with the London Borough of Redbridge)
Legal Costs - The ingoing tenant is expected to pay towards the landlord (London borough of Redbridge) costs which we understand to be £3000 +VAT
Holding Deposit - Tenants wishing to secure this property may be required to pay a holding deposit to Countrywide Commercial of £3000.00. This deposit is not refundable except in the event the vendor withdraws, clear title cannot be proved. This deposit is held in our client account until the completion of the lease and then returned to you
Reference & Credit Checks: A charge of £350 + VAT may be payable for taking up references on behalf of proposed tenants, this fee is non-refundable after the references have been taken up, whether or not they are accepted by the Landlord.
EPC: Available Upon Request
Specification
- E(a) Class Use
- Lease Assignment
- Shop – 61.53 m2 / 662.30 sq. ft
- Stores – 19.78 m2 / 212.91 sq. ft
- High Footfall
- Excellent Passing Trade
- Adj. to Nisa Extra & Tesco Express