Income Producing Shop

& vacant Self-Contained 1st Floor Offices

with potential to convert to a 1 bed flat subject to obtaining an consent which might need to be obtained

FOR SALE

77/77a Queens Road

Buckhurst Hill

Essex IG9 5BW

Other Details

Accomodation

Comprising a ground floor shopfront premises trading as a Gents Barber which extends to approximately 570sq ft (52.95sq m). On the first floor there is a self-contained office comprising a room at the rear & two intercommunicating rooms in the middle/front of the property. There are kitchenette facilities in the rear room & a WC on the landing. The net usable office area is approx 471sq ft (43.75sq m). The office benefits from having good natural light, GCH & double-glazed windows. EXISTING TENANCIES & RENTAL INCOMES: Shop - Let to Behnam Shokri & Ali IL Temis for a term of 15 years from 11th April 2024 subject to five yearly upward only Rent Reviews at a passing rent of £17,000 pax. We understand the Lease is contracted inside the Landlord & Tenant Act. Office – Vacant. Subject to any consents which might be required, the 1st floor will lend itself to conversion to a 1 bed flat. The current income is £17,000 with potential uplift to increase by £12,000pax to £15,000pa depending on the use of the 1st floor. DEVELOPMENT POTENTIAL: Subject to obtaining any consents which may be required, the 1st floor offers potential for conversion to a 1 bedroom flat. TENURE: Freehold.

Amenities

• Located in Buckhurst Hills principal shopping destination • Short walk to Buckhurst Hill (Central Line) Underground Station • Roadside customer pay & display parking bays • Potential conversion opportunity

Lease

TENURE: Freehold. PRICE: Offers are invited in excess of £395,000 to include the benefit of the existing tenancy & income from the shop & vacant possession of the 1st floor. The adjoining properties in our client’s ownership are also available, details on request.

Rent

PRICE: Offers are invited in excess of £395,000 to include the benefit of the existing tenancy & income from the shop & vacant possession of the 1st floor. The adjoining properties in our client’s ownership are also available, details on request.

Legal Costs

Each party are to be responsible for their own legal costs.

Possession

ADMINISTRATIVE FEE: Upon terms being agreed and prior to Solicitors being instructed, prospective tenant or purchaser is to pay an administrative fee of £500 plus VAT to Bennett Phillips Luton. This fee will cover all associated administrative costs including any referencing fees incurred. In the event that the Landlord or Vendor withdraws from the transaction once solicitors are instructed, 50% of the fee will be refunded.