* Price Reduction * – Freehold Investment for sale in Romford RM7
* Price Reduction * – Freehold Investment for sale in Romford RM7
Property Summary
Full Details
Location
The building is located in a prominent secondary retail parade at the Rush Green road (A124)/ Dagenham Road junction.
Romford Town Centre and mainline station is within walking distance.
Accommodation
Available accommodation comprises of a ground floor retail unit divided into two half shops below a 2x bedroom self-contained first floor flat.
There is a rear workshop currently used as a motorcycle MOT testing station.
Schedule of Income/Tenancies
168 Rush Green Road half shop
We understand the unit is let by way of a standard Law Society agreement for a term of 12 months from 1 November 2018 at an annual rental of £6,024 inclusive of Building Insurance.
168b Rush Green Road half shop
We understand the Tenant Mr Shore is currently in the process of renewing his lease for a term of 3 years at a rental of £6,354 per annum inclusive of Building Insurance.
First floor flat
We are informed that the current tenant Mrs Houghton has been in occupation for over 40 years and on completion of the sale a new ‘until death’ lease for a maximum term of 9 years at a rental of £1,000 pcm will be granted. Mrs Houghton is 94 years old. The rent is paid directly by LBoHavering.
The flat requires modernisation.
Rear workshop
Currently let as a motorcycle MOT testing station for a term of 8 years from 1 October 2012 at an annual rental of £2,800 exclusive.
NB.
We are currently awaiting copies of the Tenancy agreements but we further understand there are no rental deposits being held by the Vendor.
Consumer Protection and Money Launderign 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.