Unit 2, Buckingham Court
Rectory Lane
Loughton
Essex
IG10 2QZ
Barking Road, East Ham, London
Offers In The Region Of £499,999
Investment
- Freehold investment
- Comprising shop & 2-bedroom maisonette
- Shop tenant currently holding over
- Flat currently vacant
- Barking Road location
- Rare opportunity
** FREEHOLD SHOP & MAISONETTE FOR SALE ** - The property is situated to the southern side of Barking Road (A124), in an established retail and residential area. The closest train stations are East Ham (Circle) and Barking (Circle & Overground). Comprising a 3-storey property of traditional masonry construction. The ground floor trades as a cash and carry and there is a self-contained 2-bedroom maisonette at 1st and 2nd floor level with access from Barking Road. The shop is let to a private individual originally for a term of 12 years from January 2007. The tenant is now holding over at a rent of £16,000 per annum. The rent was last reviewed in 2015 and has not increased out of goodwill so there is an opportunity for a new owner to do so or to obtain vacant possession. The flat is currently vacant. Please call CLARKE HILLYER on 020 8501 9220 for further information.
Location
The property is situated to the southern side of Barking Road (A124), in an established retail and residential area. The A406, A13 and M25 are all accessible from the premises and the area is served by local buses. The closest train stations are East Ham (Circle) and Barking (Circle & Overground).
Description
Comprising a 3-storey property of traditional masonry construction. The ground floor trades as a cash and carry and there is a self-contained 2-bedroom maisonette at 1st and 2nd floor level with access from Barking Road. The premises are more particularly described as follows:
Ground Floor Shop: Sales Area: 316 sq ft (29.4 sq m); Ancillary: 137 sq ft (12.7 sq m); Lean-to: 286 sq ft (26.6 sq m); Kitchenette: 22 sq ft (2 sq m). Toilet facilities included.
First Floor Residential: Lounge, kitchen, bathroom/WC, bedroom.
Second Floor Residential: bedroom.
All areas are approximate only.
Tenancies
Shop: Let to a private individual originally for a term of 12 years from January 2007. The tenant is now holding over at a rent of £16,000 per annum. The rent was last reviewed in 2015 and has not increased out of goodwill so there is an opportunity for a new owner to do so or to obtain vacant possession.
Flat: currently vacant.
Terms
The freehold is available, subject to the existing lease on the shop and with vacant possession of the flat, for £499,999.
Business Rates
The London Borough of Newham have informed us that the shop has a rateable value of £10,250 under the 2023 Valuation List.
Council Tax
The flat is within Band 'A'.
Viewings
Strictly via sole agents Clarke Hillyer, tel 020 8501 9220.
EPCs
The shop has an Energy Performance Certificate rating of C and the flat has an EPC rating of D.
Energy Efficiency and Environmental Impact
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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