Investments/Development Opportunities,Ilford,IG1 2AG,B1 , Under Offer
1684 sq ft ( 156.4436 sq m)
Size: 1684Sq ft | Property Type: Investments/Development Opportunities Tenure: Freehold | Area: Ilford | Postcode: IG1 2AG
Bennett Phillips Luton
199a High Road
Shop & 1st /2nd floor offices with the benefit of existing short-term income throughout.
Planning Permission granted for 2 x 1 bedroom flats on the upper floors.
Freehold For Sale
Town Centre Location
Family-owned property – first time on the market for more than 100 years.
Planning to develop 2 x 1 bedroom flats & an application for a further 1 bedroom flat.
Amongst all Town Centre amenities
Within 100 yards of Ilford Elizabeth Line Station
Excellent local & national road communications via (A406) approx 400 yards
Shop – Let to Joshua & Sonia Williams on a FRI Lease for a term of 20 years dated 3rd March 2003 at a passing rent of £27,500pax. We understand form our client that although the Lease is drawn inside the Landlord & Tenant Act, vacant possession can be obtained if required. Offices – All are Let on Tenancies at Will, commencing between May 2017 & July 2021. The current combined income is £27,600pa The total income is therefore £55,100pa. Planning Planning permission was granted on 22 July 2022, application number 1805/22 for the conversion of the uppers to provide 2 x 1 bedroom flats over 1st & 2nd floors. A recent application has been submitted for a further 1 bedroom flat in the loft space
Town Centre Location Family-owned property – first time on the market for more than 100 years. Planning to develop 2 x 1 bedroom flats & an application for a further 1 bedroom flat. Amongst all Town Centre amenities Within 100 yards of Ilford Elizabeth Line Station Excellent local & national road communications via (A406) approx 400 yards
Freehold to include the benefit of the existing incomes & the planning consent.
Offers are invited in excess of £875,000 to include full, or partial vacant possession if required. We understand VAT is not applicable
Each party are to be responsible for their own legal 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 2% of the sale price plus VAT at the prevailing rate paid by the purchasers Solicitor immediately upon completion. Written acknowledgment will be required from the purchaser once terms have been agreed & prior to Solicitors being instructed.
Strictly by prior appointment through sole agents Bennett Phillips Luton – contact Marc Luton on 020 8501-3000 email: firstname.lastname@example.org
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