Location
The building is located within a popular secondary parade of ground floor retail units with residential upper parts at the Fencepiece Road (A123)/Katherine Gardens junction in the heart of Hainault.

Local operators of note within the parade include Well Pharmacy, The Cooperative Supermarket and Jenningsbet as well as a number of independent local retailers, whilst diagonally opposite the building is a Lidl Supermarket.

Hainault (Central Line) underground station offering direct access to the City and West End is within walking distance whilst the following bus routes serve the parade: 150 – Becontree Heath to Chigwell Row, 167 – Ilford to Loughton, 247 – Barkingside to Romford, 462 – Hainault to Ilford, N8 – Night bus Oxford Circus to Hainault The Lowe

Accommodation
The building comprises of a ground floor retail/office below a split level maisonette over first and second floors which is sold off on a 125 year lease. The ground floor benefits from rear servicing via a secure yard accessed from Katherine Gardens as well as one secure garage.

We understand that the ground floor has been used as a Metropolitan Police Safer Neighbourhood branch since 2006.

Included within the ground floor is an electrical sub station.

We further understand that the ground floor has a gross internal floor area of 1,223 sq.ft. (113.62 sq.m.) together with a yard of 925 sq.ft. (85.93 sq.m.).

Floor areas provided by vendor and cannot therefore be guaranteed.

Tenancies
Ground floor (127 Fencepiece Road) let to Mayors Office for Policing and Crime for a term of 3 years from 4 December 2017 at a rental of £20,000 pax outside the L & T Act and subject to a mutual option to determine on or any time after December 2018 subject to 6 months prior written notice. Included within the demise is a single garage.

Upper floors (127a Fencepiece Road) sold off on a 125 year lease subject to rent reviews at a rental of £70 pa.

Rear substation (Substation 51159 Fencepiece Road) sold off on a 60 year lease from 25 March 2016 at an annual rental of £900 pa subject to periodic rent reviews and Landlord only rolling development break clause at any time on 12 months prior written notice. Landlord to be responsible for re-siting sub station in the event of development.

FULL DETAILS UPON REQUEST

Planning
We understand the ground floor benefits from A1 (retail) and B1 (office) use. plans have been prepared by the vendor to provide for the following:

Option 1

Divide the existing ground floor under Permitted Development rights to provide for a commercial shop/office with window frontage of 643 sq.ft. 59.74 sq.m. together with a 1x bedroom apartment of 580 sq.ft. (53.88 sq.m.).

Option 2

As per Option 1 together with an additional Studio flat and first floor 2x bedroom flat within a newly constructed two storey rear extension.

Further details available upon request.

Dilapidations
A Terminal Schedule of Dilapidations was prepared by the Vendor in March 2016 and although this may require updating it is available on request.

Terms

Tenure
The premises are to be sold Freehold subject to the aforementioned tenancies.

Price
Offers are invited in excess of £300,000. The property is not elected for VAT.

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.

Consumer Protection and Money Laundering Regulations
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 any property.

Legal costs
Both parties’ reasonable legal costs are to be borne by the ingoing Tenant.

Viewing
Strictly by arrangement via this office.