404 Barking Road, London, London, E13 8HJ

  • Investment
  • 607.71 sq ft
  • For Sale
Barking Road, 404. 15.03 (2).JPG
Barking Road, 404. 15.03 (2).JPG
Image from Google Street View - 128
Under offer
Property Type Investment
Tenure For Sale
Size 607.71 sq ft
Freehold Price £350,000 Offers in excess of
Business Rates £2,563 per annum (based on rateable value of £5,500) england-standard
Energy Performance Rating This property has been graded as 119 E

Freehold Mixed Use Investment

Key Features

  • Busy secondary location close to Canning Town Regeneration Area
  • Asset Management Opportunities
  • Ability to enhance income
  • Low capital value

Location

The property is situated on the south side of the Barking Road (A124) close to the cross-roads with Balham Street and New Barn Street. A number of multiple retailers are located nearby, including The Post Office, Iceland, Paddy Power, and Ladbrokes. The premises are also close to the new major redevelopment of Rathbone Market in Canning Town.

Public Transport facilities are also within the local area such as Canning Town, providing links to underground (Jubilee Line) and DLR Services, less than 1 mile away. There is also several bus routes that stop outside the shop. Newham’s New Vic 6th form college is approximately 0.5 miles east of the unit whilst Newham’s University Hospital is approximately 0.8 miles in the same directions.
London City Airport is approximately 2.5 miles south of the subject property.

Description

The 2 storey mixed use property is arranged to provide a ground floor shop and a self-contained 2 bed maisonette plus basement storage and rear yard.

ACCOMMODATION

PRESENT LESSEE

LEASE TERMS

CURRENT RENT

NEXT REVIEW / REVERSION

 

Ground floor shop

 

Mr Mumitaz Butt

t/a Dani Barbers

 

8 years FRI with effect from 24th June 2011

£7,000 pax

Lease expiring on 24th June 2019

 

2 bed maisonette

Plus basement

Plus garden

 

 

Mr Kareem Teslim

 

 

Assured Shorthold  Tenancy (6 months), with effect from 29th Sept 2015. Holding over 

 

£800.00 pcm

 

*

 

 

Holding over

 

*Estimated rental valuation of Maisonette £1,400pcm

 

Legal Costs

Each party to bear their own legal costs incurred in this transaction, subject to the prospective purchaser solicitors undertaking to pay the landlord’s abortive costs if the prospective purchaser withdraw from the transaction.

Viewings

Strictly by appointment through the sole agent