SOLD SOLD SOLD SOLD – MORE PROPERTIES WANTED

POA
935 Sq Ft

SOLD SOLD SOLD SOLD – MORE PROPERTIES WANTED

POA
935 Sq Ft
  • Ref: E61LA379
  • Type: Investment/Development
  • Availability: Sold

Property Features

  • Rarely available freehold property in the heart of East Ham
  • Immediately adjacent to a new landmark mixed use development
  • Lots of scope for future development
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  • Property Summary

    A small retail building currently let with a further 7.5 years remaining.

    Full Details

    Location
    The building is located in a prominent position on Barking Road almost at its junction with High Street North. This is an extremely busy area with much passing traffic and high footfall.

    East Ham (District and Hammersmith & City Line) Zone 4 underground station is within easy walking distance offering quick and easy access to the City and West End.

    The building is well served by bus routes 5, 147, 238, 300, 325 and N15.

    There are a considerable number of multiple retailers in High Street North and the area continues to undergo significant regeneration with a number of key residential developments planned, most notably ‘The Brickyard’ where construction of a part 8/part 10 storey mixed use development of 98 residential apartments over two storey commercial retail and leisure uses is about to commence which is immediately adjacent to the subject property. Bank of India is opposite whilst the Town Hall is also moments away.

    Accommodation
    Available accommodation comprises of a ground floor retail unit with first floor ancillary office/stores. There is a disused two storey building to the rear with separate access directly off of High Street North.

    Approximate floor areas as follows: Ground floor shop - 635 sq.ft. (58.98 sq.m.), first floor - 300 sq.ft. (27.87 sq.m.). Rear building ground floor - 312 sq.ft. (28.99 sq.m.), first floor - 312 sq.ft. (28.99 sq.m.)

    Floor areas taken from VOA website therefore their accuracy cannot be guaranteed. Interested parties will need to satisfy themselves in this regard.

    Tenancy
    The entire demise is let to Mr P Barter for a term of 15 years to expire 14 March 2026 subject to 3 yearly rent reviews at the current passing rent of £18,000 per annum exclusive. The 2017 rent review has not been triggered.

    We further understand there is no rental deposit being held by the Vendors.

    Consumer Protection Regulations
    It is recommended that applicants seek independent professional advice before entering into a contract on this property.

    Money Laundering Regulations
    It is recommended that applicants seek independent professional advice before entering into a contract on this property.