Income Producing shop with (Class E) use

Upper Parts sold-off

FOR SALE

Other Details

Accomodation

Comprising a ground floor lock up shop with (Class E) use, laid out to provide a sales area with additional treatment rooms which are ancillary to the tenant’s use, kitchen & WC facilities are also provided. (there was a gap here which I’ve closed) The overall floor area is approximately 856sq ft (79.6sq m). TENANCY AND RENTAL INCOME DERIVED: 120 - Let to Hassane Brika t/a Studio 120 upon the terms of a 15-year FRI Lease commencing 20th March 2020 without any rent review provisions at a fixed rent of £31,500pax throughout the term, paid on the usual Quarter Days. The Lease is subject to mutual break clauses every two years, from March 2022, subject a 6 month’s prior written notice in the event either party wishes to exercise the option. Our client holds a 6-month rent deposit & the Lease is personally guaranteed. 120a High Street, Barkingside – It is understood the maisonette was sold off on a 125-year Lease & has approximately 115 years unexpired, producing a Peppercorn rent.

Amenities

Rare Freehold opportunity Well secured with 6 month rent deposit & Personal Guarantee Sought after High Street Well presented

Lease

Freehold to include the benefit of the tenancy & rental income derived.

Rent

Offers are invited in excess of £450,000 (Four hundred & fifty thousand pounds). VAT is not applicable.

Rates

Rateable Value - 2024/2025- £28,750 Rates Payable - 2024/2025 - £14,346.25 per annum

Legal Costs

Each party are to be responsible for their own legal costs borne in this transaction. ADMINISTRATIVE FEE: Upon terms being agreed and prior to Solicitor's being instructed, the 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.

Possession

Immediate upon completion of legal formalities.

Viewing

Strictly by prior appointment