671-673 High Road

Leytonstone, IG3 8RQ

£995,000

Investment / Development Under Offer

Description

Fully Let Income Producing Investment

FOR SALE

Comprising - 2 lock up shops & 2 self-contained flats.

Accommodation

Accommodation.Comprising a mid-terraced two-storey building providing 2 x lock-up shops on the ground floor, 1 x 1 bed flat & a studio flat on the first floor which are accessed directly off the High Road. It is understood all parts of the demise are separately rated & have their own meters, except the two residential units on the 1st floor, which have shared gas, water & electricity meters.

Features

• Fully Let Investment
• Mixed Use Retail/Residential
• Short walk from Seven Kings (Elizabeth Line) Station
• Rare Freehold Opportunity

Particulars

Existing tenancies and rental incomes derived

Commercial.
671 – Let by way of an Assignment on 28th January 2022, at a passing rent of £23,000pax. It is understood that a rent deposit is held of £10,500. 673 – Let by way of a 10-year FRI Lease which was granted on 26th March 2019 at a passing rent of £22,000pax. A 6-month rent deposit is held.
Residential.
Flat 1, 673a High Road – Let on a periodic tenancy - producing £1,250pcm.
Flat 2, 673a High Road – Let on a periodic tenancy - producing £1,400pcm.

Tenure

Freehold

Price

£995,000 (Nine hundred and ninety nine thousand pounds)

Legal Costs

Each party are to be responsible for their own costs.

Administration Fee

Upon terms being agreed and prior to Solicitor’s being instructed, the prospective purchaser is to pay an administrative fee of £500 plus VAT to Bennett Phillips. This fee will cover all associated administrative costs incurred. In the event that the Vendor withdraws from the transaction once solicitors are instructed, 50% of the fee will be refunded.

Viewing

By prior appointment through sole agents Bennett Phillips 020 8501-3000 Taylor Phillips - taylor@bennettphillips.com

EPC

FLAT 1 - RATED C
FLAT 2 - RATED C
SHOP 671 - RATED D
SHOP 673 - RATED C
Copy EPC certs available on request

Location

The property is located on High Road, Seven Kings, close to the junction with St Albans Road & within a short walk from Seven Kings (Elizabeth Line) Station. The High Road serves the densely populated residential catchment area & hosts many independent retailers & eateries, in addition to branches of ALDI & McDonalds, both of whom are within a couple of minute’s walk.

What's nearby

Seven Kings Station