INCOME PRODUCING  SHOP FRONT PREMISES

& 8 INCOME PRODUCING FLATS

FOR SALE

186 HIGH ROAD, LOUGHTON IG10 1DB

& TOWNSVIEW, 184-186 HIGH ROAD IG10 1DF

& 22 CLIFTON ROAD LOUGHTON IG10 1FD

Other Details

Accomodation

The property comprises a four-storey mixed-use building fronting the High Road, incorporating a ground floor retail unit with residential accommodation above. Nine of the flats have been sold on long leasehold interests, with two retained and currently let (details below). To the rear of the site, fronting Clifton Road, is a separate three-storey residential building comprising six self-contained income-producing flats. The property further benefits from allocated parking serving both the commercial and residential elements. EXISTING TENANCIES & RENTAL INCOMES DERIVED: Commercial drYp Studios Limited a Wellness Centre (Class E) use, providing a range of associated services let on a 10-year lease producing an income of £75,000 per annum. Residential Cherrywood Heights 22 Clifton Road, Loughton, Essex IG10 1FD Flat 1 (1 bed) - Let on a periodic tenancy producing £1,195 pcm Flat 2 (2 bed) - Let on a periodic tenancy producing £1,350 pcm Flat 3 (2 bed) - Let on a periodic tenancy producing £1,350 pcm Flat 4 (2 bed) - Let on a periodic tenancy producing £1,295 pcm Flat 5 (2 bed) - Let on a periodic tenancy producing £1,350 pcm Flat 6 (2 bed) - Let on a periodic tenancy producing £1,500 pcm Townview 184-186 High Road, Loughton, Essex IG10 1DF Flat 10 (2 bed) - Let on a periodic tenancy - producing £1,300pcm Flat 11 (2 bed) - Let on a periodic tenancy - producing £1,300pcm Ground Rent Income Townview - 184-186 High Road. Loughton Flats 1-9 have been sold off and produce a ground rent income of 9 x £150 per annum (£1,350 per annum in total) Total Rental Income Derived - £204,030 per annum

Amenities

Rare Freehold Opportunity • Within a short walk of Loughton (Central Line) underground station • High Street Location • Allocated parking

Lease

TENURE: Freehold to include the benefit of the tenancies & rental incomes derived.

Rent

PRICE: Offers are invited in the region of £4,000,000.00 (Four Million Pounds).

Legal Costs

Each party are to be responsible for their own legal costs borne in this transaction. ADMINISTRATION FEE: Upon terms being agreed and prior to Solicitor’s being instructed, the prospective purchaser is to pay an administrative fee of £500 plus VAT to Bennett Phillips Luton. This fee will cover all associated administrative costs 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.