Investments/Development Opportunities,Forest Gate,E7 0HA,A1 , Under Offer
2130 sq ft ( 197.877 sq m)
Size: 2130Sq ft | Property Type: Investments/Development Opportunities Tenure: Freehold | Area: Forest Gate | Postcode: E7 0HA
Bennett Phillips Luton
199a High Road
The property comprises two adjoining, intercommunicating shops providing retail space, storage & workshops which has traded as a DIY & Joinery business for c. 50 years. The shop provides WC & kitchen facilities & two small basements which haven’t been inspected. Historically both flats would have been internally accessed & the old staircases remain in part towards the rear of each shop. Externally there is a rear yard with parking for up to 5 cars, accessed from Horace Road. Approx floor areas & dimensions are as follows.
GF 33’ 0’’ (10.05m)
SW 31’ 6’’ (9.06m)
BD 70’ 0’’ (21.33m)
Gross internal floor area 2,130sq ft (198.09m sq)
Basements – 200sq ft (18.6m sq) Not inspected
Rear yard – Parking for up to 5 cars
*Please note the above measurements are based on scaled floor plans provided by our client.
Above the shops there are 2 self-contained 2 bedroom flats, accessed from a metal staircase from the yard which is approached from Horace Road.
6a Woodford Road (flat) – 2 bedrooms, lounge, kitchen & bath/WC. The way the flat has been designed means whilst access to the second bedroom (which is in the loft space above flat 6), is from flat 6a, you have to pass through the loft space above flat 6a to access the bedroom. There is therefore the ability to use the already converted loft space above flat 6a as an additional bedroom, dressing room, or an office.The rental income is currently £1,050pcm which is deemed to be below the market rent. The tenant has been in occupation for c. 15 years.
6 Woodford Road (flat) – 2 bedrooms, kitchen/dining room, shower room / WC. Although currently laid out as a 2 bedroom flat, in practical terms, it would best lend itself to a 1 bed flat, which would potentially allow for a larger kitchen, addition of a bath rather than a shower & dedicated lounge. The rental income is £1,000pcm.
Flat 6 has a coin operated electric meter otherwise the flats are not separately metered & have part gas central heating & sash windows.
Two adjoining intercommunicating shops, with two self-contained 2 bedroom flats & a rear yard.
Each party are to be responsible for their own costs. Agency Fee – Although Bennett Phillips are solely retained by the Vendor, as part of our agreement with them, we have been instructed to obtain our fee from the purchaser. This is to be based on 1.5% of the sale price plus VAT at the prevailing rate paid by their Solicitor immediately upon completion. Written agreement of this will be required by the purchaser once terms have been agreed & prior to Solicitors being instructed.
Immediate upon completion where applicable