668-672 High Road Leytonstone, Leytonstone, E11 3AA

  • Retail, Land, Investment
  • 4,468 sq ft
  • For Sale
668-672 High Road Leytonstone, Leytonstone, Retail, Land, Investment For Sale - IMG_9529.JPG
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668-672 High Road Leytonstone, Leytonstone, Retail, Land, Investment For Sale - IMG_9633.JPG
Property Type Retail, Land, Investment
Availability For Sale
Size 4,468 sq ft
Price Offeers in the region of £2,000,000
Business Rates £27,342 per annum (based on rateable value of £54,250)
Energy Performance Rating Upon enquiry

Triple retail unit with potential for first, second & third floor residential development

Key Features

  • PRE PLANNING APPLICATION FOR 6 FLATS
  • £52,000 INCOME GUARANTEED UNTIL 2030
  • ESTABLISHED TENANTS
  • EXCELLENT HIGH STREET LOCATION CLOSE TO STATION

Location

The property lies in central Leytonstone on the High Road, it is directly opposite St Johns Church and Matalan. Other local occupiers include Santander, Boots, Sainsburys and Argos. It is 0.1 miles to Leytonstone Station which provides Central Line services to Central London. By road the property is approximately 0.3 miles to the A12 which links to the A406 and Central London. Leytonstone is in north east London with excellent local amenities including Wanstead Park and Epping Forest.

Available area

Floor / UnitDescriptionSizeAvailability
G 668 924 sq ft Available
G 670-672 1,542 sq ft Available
1st Existing First Floor 2,002 sq ft Available

Description

The property comprises a triple retail unit let to two tenants one of whom has been in the premises since 1993. Both tenants are on 20 year FRI leases with regular rent review patterns and no break clauses. The double unit lease was agreed in 2010 with the single unit agreed in 2016. The combined income is £52,000. The first floor is currently vacant and there is pre-planning that has been provisionally agreed for 6 flats, (four two-bedroom, two one-bedroom). This would bring the property in line with the height of the adjoining premises.

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.

VAT

The property is not elected for VAT.

Viewing

Strictly by appointment only through the sole agent, Dobbin and Sullivan