Commercial property for sale in Barking Road, London E6

** freehold shop & maisonette for sale ** - The property is situated to the southern side of Barking Road (A124) on the corner of Ranelagh Road, in an established retail and residential area. The closest train stations are East Ham (Circle) and Barking (Circle & Overground). Comprising a 3-storey corner property of traditional masonry construction. The ground floor trades as a dry cleaners and there is a 2-bedroom maisonette at 1st and 2nd floor level with access from Ranelagh Road. To the rear of the property is a small yard area. The shop is let on a 10 year full repairing and insuring lease from March 2018 at a current rent of £9,600 per annum. There is an outstanding rent review from March 2023. The maisonette is let on a current Assured Shorthold Tenancy Agreement at £975 per calendar month equating to £11,700 per annum. Please call Clarke Hillyer on for further information.

Location

The property is situated to the southern side of Barking Road (A124) on the corner of Ranelagh Road, in an established retail and residential area. The A406, A13 and M25 are all accessible from the premises and the area is served by local buses. The closest train stations are East Ham (Circle) and Barking (Circle & Overground).

Description

Comprising a 3-storey corner property of traditional masonry construction. The ground floor trades as a dry cleaners and there is a 2-bedroom maisonette at 1st and 2nd floor level with access from Ranelagh Road. To the rear of the property is a small yard area. The premises are more particularly described as follows:
Ground Floor Shop: 546 sq ft (80.7 sq m). Kitchen and toilet facilities included.
First Floor Residential: Lounge, kitchen, bathroom.
Second Floor Residential: 2 bedrooms.
All areas are approximate only.

Tenancies

The shop is let on a 10 year full repairing and insuring lease from March 2018 at a current rent of £9,600 per annum. There is an outstanding rent review from March 2023. The lease is inside the Landlord & Tenant Act 1954.
The maisonette is let on a current Assured Shorthold Tenancy Agreement at £975 per calendar month equating to £11,700 per annum.

Terms

The freehold is available, subject to the current tenancy agreements, for £565,000.

Business Rates

The London Borough of Newham have informed us that the shop has a rateable value of £12,750 under the 2023 Valuation List.

Council Tax

The maisonette falls within Council Tax Band B.

Viewings

Strictly via sole agents Clarke Hillyer, tel .

Epc

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