Investments/Development Opportunities,Walthamstow,E17 9DS,A1 , Withdrawn
0 sq ft ( 0 sq m)
Size: 0Sq ft | Property Type: Investments/Development Opportunities Tenure: Freehold | Area: Walthamstow | Postcode: E17 9DS
Bennett Phillips Luton
199a High Road
Fully Let Income Producing Shop,
1 x 1 bed flat & 5 x Studio’s
Self-contained Studio units
Landlord Certificates in place
6.5% return before costs
Separately rated throughout
ACCOMMODATION: Comprising a two storey mixed use commercial & residential property laid-out to provide an extensive ground floor shop, with a one bed flat & 5 additional studios all located on the 1st floor. All parts of the demise benefit from having their own self-contained facilities & are separately metered & assessed for Business rates & Council Tax respectively. EXISTING TENANCIES AND RENTAL INCOMES DERIVED: Shop A new FRI Lease was granted to Pasta Remoli Production Ltd on 11th June 2019 for a term of 6 years, subject to a mid-term upward only rent review at a commencing rent of £25,000pax. The Lease provides for a tenant Break on 10th December 2022. The premises are used as a ‘dark kitchen’ & produces fresh pasta on site for the companies 6 retail outlets. Residential There are a total of 5 studios and a one bedroom flat all of which are let on periodic AST's providing a combined income of £46,200 per annum. The total income from the shop and residential units is therefore £71,200 per annum.
Self-contained Studio units Established Use Landlord Certificates in place 6.5% return before costs Separately rated throughout
Tenure. Freehold to include the benefit of the above tenancies & rental income derived which totals £72,100pa. Salient Information: All flats are separately metered. Separate rate assessments throughout. Landlord Licences for each residential unit. Establish Use Certificates in place. Rent deposits equal to 6 weeks rent held in respect of each residential Letting & 3 months in respect of the shop.
Price. Offers are invited in excess of £1 Million.
Each party are to be responsible for their own legal costs borne in this transaction.
Vacant possession is to be granted if applicable in the event any part should be vacant on completion.
VIEWING: Strictly by appointment through agents Bennett Phillips Luton | 0208 501 3000 Contact Marc Luton at firstname.lastname@example.org
BUSINESS RATES RELIEF UPDATE 2022/2023More
The Government has today released the proposed changes to the Use Classes Order which relates to land within England onl..More