Freehold Retail Investment for Sale
The property comprises of a freehold retail investment with the shop let on a 15 year full repairing and insuring lease, beginning February 2012, expiring February 2027. The rent was recently reviewed to £22,500 p.a.x. however, the existing tenant was given a personal concession reducing the rent to £17,000 p.a.x. currently and rising to £18,000 p.a.x. on 17th February 2020 until the next rent review in February 2022. (Please note the personal concession rent is for the existing tenant only and is not assignable). The Shop/Showroom comprises of 1,205 sqft (111.94 sqm) plus rear ancillary area of 140 sqft (13.01 sqm). Ground floor Shop/Showroom comprising 1,205 sqft (111.94 sqm) Rear ancillary area of 140 sqft (13.01 sqm) Freehold retail investment for a 15 year full repairing and insuring lease expiring February 2027
Situated in this extremely visible location fronting both Woodford Avenue and Redbridge Lane East at the Longwood Gardens Roundabout. Woodford Avenue (A1400) joins directly up to Southend Road and Charlie Browns Round at the junction with the North Circular A406. The roundabout leads through to South Woodford and Wanstead in one direction plus Woodford Bridge and Chigwell in the other. The north circular provides access to the M11 and north London and in an easterly direction Woodford Avenue joins up to Gants Hill, Newbury Park and Romford. Price / Rent £295,000 Freehold (the flat is sold of on a long leasehold investment with approximately 980 years left to run at a peppercorn ground rent.