Commercial property for sale in London, England

Ilford is a busy and densely populated suburb of East London located approximately 10 miles east of Central London. Ilford Lane A123 connects Ilford Town Centre to Barking Town Centre with both towns having their own rail stations providing quick and easy access throughout the entire overground and underground network.  Road links are excellent with the A406 North Circular Road being 0.5 miles away which in turn provides access to the A12, A13 and M11.  Ilford Lane is an extremely busy and vibrant location with the subject building being located in a 100% prime trading position at the A123 Ilford Lane/Cecil Road junction.  The area is served by the following bus routes*:  169 - The Glade Clayhall to Barking Town Centre EL1 - Ilford Hill to Northgate Road, Barking  *Information provided by TfL  Available accommodation comprises of a mixed use building at the end of a prime retail parade over lower ground, ground and first floors under a pitched tiled roof.  The building appears to be in good overall condition and is to be sold subject to the following Tenancies:  114 Ilford Lane, Ilford IG1 2LE Ground floor retail/office that has traded as a betting office since c1961. The unit is approximately 991 sq.ft. (92.08 sq.m.) and let to Done Brothers (Cash Betting) Letting trading as BetFred bookmakers for a term of 10 years from 26 September 2015 at the current passing rental of £31,000 pax without further review.  The lease includes an open market rent review as well as a Tenant only option to determine on the 5th anniversary subject to not less than 6 months prior written notice.  114a Lower ground floor flat 1x bedroom flat with street level access and a small courtyard garden to the rear. The premises are in good overall condition benefitting from central heating and double glazing and is occupied by Mr N A Kareem and Miss H O Mamidu by way of a periodic tenancy at a monthly rental of £1,100 pcm.  114b First floor flat 1x bedroom flat with street level access. The premises are in very good overall condition with loft access and occupied by Mrs L Sulc by way of a periodic tenancy at a monthly rental of £1,200 pcm.  Rear garage/stores Rear garage/stores (unmeasured)accessed from Cecil Road of let to a private individual for a term of 5 years from 1 September 2019 at an annual rental of £3,000 pax. We understand the unit was constructed late 2005 and is being used for the storage of groceries and household items.  NB. Stated floor areas taken from VO.  Terms  The premises are to be sold on a freehold basis subject to the aforementioned Tenancies.  Offers in excess of £925,000 are being invited.  All rents, prices and premiums are exclusive of VAT under The Finance Act 1989. Accordingly, interested parties are advised to consult their professional advisers as to their liabilities, if any, in this direction.  EPC to follow.  Purchaser to be responsible for both parties reasonable legal costs incurred in this transaction.  It is recommended that applicants seek independent professional advice before entering into a contract on this property. It is required to gain proof of identity from companies and individuals before accepting an offer for the property.  Reference to all/any services, utilities or F & F in these particulars does not imply they are in full and efficient working order.  Viewing strictly by prior arrangement via Vendors sole agents as above.

Commercial property for sale in London, England

Commercial property for sale

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