Property description
This retail unit is positioned just off the very popular and busy Romford Road. The property consists of ground floor and basement. The unit benefits from a 3 bedroom flat, positioned above the shop. We have been advised by our client that the weekly shop turnover is approximately £10,000.
Romford Road (A118) links to the North Circular A406 which has good access to Central London. Woodgrange Park station (London Overground) is 0.5 miles away. Various bus routes are accessible giving good access to East London. The property is easily accessible by car via A118.
AccommodationGround floor:
Width/Frontage:” approx
Depth: “approx
Ground floor size: sqft approx
Basement:
Width/Frontage:” approx
Depth: “approx
Basement size: sqft approx
Total accommodation size: 1250sqft approx
Lease Term/Commencement Our client wishes to assign original lease which has 8 years remaining.
Rent £16,000 per annum.
Premium £120,000 NEW PREMIUM £115,000
Legal Fees/Cost Each party is to bear their own legal cost.
VATThis property is not elected for VAT.
RatesWe have been advised by our client that the current business rates payable are £3,000 per annum. However, all interested parties are encouraged to make their own enquiries with the Borough of Newham.
ViewingsBy prior appointment through multi selling agents Ranson UK LTD.
Email: enquiries@ranson.co.uk
Tel: 0207 538 4057
Property Features :
- Corner retail unit
- Ground floor & basement
- 3 bedroom flat above
- Weekly turnover of approx. £12,000 with 30% net profit
- 7 years renewable lease remaining