Commercial property for sale in Romford Road, London E12

** freehold shop & maisonette for sale ** - The property is situated on Romford Road (A118) in Manor Park, East London, along a parade of shops within an established residential area. The closest train stations are Manor Park and Ilford (Elizabeth Line) and the area is served by local buses. The property forms a mid-terrace three storey building of traditional masonry construction with a barber shop situated on the ground floor and the upper parts comprising a self-contained 3-bedroom maisonette. The current total income is £34,200 per annum. Please call Clarke Hillyer on for further information.

Location

The property is situated on Romford Road (A118) in Manor Park, East London, along a parade of shops within an established residential area. Romford Road interconnects with the North Circular Road (A406), which in turn interconnects with Junction 4 of the M11. The closest train stations are Manor Park and Ilford (Elizabeth Line) and the area is served by local buses.

Description

The property forms a mid-terrace three storey building of traditional masonry construction. A barber shop is situated on the ground floor and the upper parts comprise a self-contained 3-bedroom maisonette. To the rear of the property is a workshop/store which is accessed via a rear alley, which we understand, is demised to the tenant and accessed via a pair of metal double gates. This provides two car parking spaces for the property. The accommodation is more particularly described as follows:
Ground Shop: 604 sq ft (56.1 sq m).
First Floor Workshop 1,039 sq ft (96.5 sq m).
First Floor Residential: Bathroom, kitchen, bedroom, lounge.
Second Floor Residential: 2 bedrooms.
All measurements quoted are approximate only.

Tenancies

The shop is let on a full repairing and insuring lease of 20 year from July 2012, subject to 5 yearly rent reviews. The July 2022 rent review was settled at £15,000 per annum.
The maisonette is let to the same tenant as the shop on a current Assured Shorthold Tenancy Agreement at a rent of £1,600 per calendar month, equating to £19,200 per annum.

Terms

The freehold is available, subject to the existing tenancy agreements, for £575,000

Business Rates

Newham Council have informed us that the shop has a rateable value of £10,750.

Council Tax

The flat is within Band C.

Viewings

Strictly via sole agents Clarke Hillyer, tel .

Epc

The shop has an Energy Performance Certificate rating of C. The flat has an EPC rating of D.