RARE FREEHOLD INVESTMENT OPPORTUNITY

Fully Let Mixed Residential & Commercial Investment Opportunity

78-80 Wood Lane

Dagenham RM8 2NT

•              Asset Management Opportunity

•              In the Same Ownership for approximately 20 years

•              Prominent location in established parade

•              Fully Let & Income Producing

•              3 Retail Units & 4 well-presented self-contained 2-bedroom flat

Other Details

Accomodation

The property principally comprises a three-storey mixed use terraced parade comprising 3 retail units and four self-contained flats. Tenancies & Incomes derived: Commercial 78 Wood Lane: Let to Erkan Koksal who has been in occupation since 2006 having renewed the Lease in 2013 for a further 15 years, subject to 5 yearly upward only rent reviews. The passing rent is £18,000pax. 80 Wood Lane: Let to Anh Kim Do who has been in occupation since March 2011, having renewed in 2021 for 10 years at a passing rent of £11,500pax. There are pre-agreed rent increases on 15/03/27 to £12,500pax & on 15/03/30 to £13,500pax. A rent deposit of £4,000.00 is held. 80b Wood Lane: Let to Muhammed Mursaleen on a lease which was renewed in February 2024 for 6 years, subject to a mid-term upward only rent review, at a passing rent of £10,000pax. Prior to the existing Lease, the tenant’s family had been in occupation since 2012 and renewed the lease in 2018. Guarantees are in place from Mr and Mrs Ahmad who were the original Lessees. A rent deposit of £4,000.00 is held. Residential 78a Wood Lane: Let on a 1-year AST producing £15,600.00 per annum. 78b Wood Lane: Let on a 1-year AST producing £15,600 per annum. 80a Wood Lane: Let on a 6-month AST producing £15,300 per annum. 80c Wood Lane: Let on a 1-year AST producing £17,400 per annum. The total gross income is therefore £103,400 pax. Rent Insurance Guarantees are in place on all residential Lettings. EPC: Shop 78 -Rating C Shop 80-Rating D Shop 80b-Rating D Flat 78a-Rating C Flat 78b-Rating D Flat 80a-Rating C Flat 80c-Rating D

Amenities

• Asset Management Opportunity • In the Same Ownership for approximately 20 years • Prominent location in established parade • Fully Let & Income Producing • 3 Retail Units & 4 well-presented self-contained 2-bedroom flat

Lease

Tenure: Freehold.

Rent

Price: £1,200,000 (One Million Two Hundred Thousand Pounds) to include the benefit of the rental income & tenancies.

Legal Costs

Each party are to be responsible for their own legal costs. Sales Pack: A comprehensive legal pack has been prepared by the Vendor which will be released to the purchaser's Solicitor upon terms being agreed. Funding: In advance of accepting an offer, our client will require a prospective purchaser to provide proof of existing funds or funding arrangements, which adequately demonstrate their ability to purchase the property.

Possession

Immediate upon completion of legal formalities, subject to Occupational Tenancies as outlined above.

Viewing

Strictly by appointment through sole agents Bennett Phillips Luton | 0208 501 3000. Contact: Simon Phillips at simon.phillips@bennettphillips.com / Marc Luton at marc@bennettphillips.com