244-246 Chingford Mount Road, London, E4 8JL

  • Investment / Retail
  • 4,100 sq ft
  • For Sale
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Under Offer
Property Type Investment / Retail
Tenure For Sale
Size 4,100 sq ft
Price Offers in excess of £940,000 Reflecting a Net Initial Yield of 7% after allowing for purchaser costs at 6.8% at this level and a Gross Yield of 7.45%. By way of separate negotiation, 2 bed flats above unit also available. Please call to discuss further details.
Business Rates £17,589.75 per annum £35,250 is the present rateable value of the property, however we would advise that any potential purchaser make their own enquiries to the council as this is likely to increase in April 2023.
Rateable Value £35,250
Energy Performance Rating This property has been graded as B (36)

Back on the Market due to Abortive Sale of Virtual Freehold Investment for Sale

Key Features

  • Attractive long income opportunity to December 2036
  • Asset Management Opportunity including rent review in December 2026
  • Highly prominent location in the busy arterial road of Chingford Mount Road
  • Supermarket Store fitted out to high standard

Description

The property comprises of a modern fitted out ground floor supermarket with access to the front as well as delivery access from Normanshire Drive. The unit benefits from both retail frontages to both highways.

Available area

The accommodation comprises of the following

Name sq ft sq m Availability
Ground - Main Retail Area 4,100 380.90 Available
Total 4,100 380.90  

Location

The premises are situated on the east side of Chingford Mount Road (A112) with its junction to Normanshire Drive. The (A112) runs in a southerly direction connecting with the orbital A406 and in a northerly direction intersects with the A1009 and leads to the M25. The surrounding area is mixed use with housing and flats including the A112 populated with local high street shops, banks and restaurants. Higham's Park Railway Station is 1.4 miles to the south east with regular services to London Liverpool Street.

Viewings

Strictly by appointment only with Landlords sole agents

Tenure

A new 999-year lease subject to peppercorn rent with a 20 year sublease let as follows: Tenant: Abdullah Dari. FRI lease from Dec 2016, 5 yearly reviews, 20 year term inside LTA 1954 Rent: £70,000 pax. Class E Use. Deposit: £17,449

Legal Costs

Each party to bear their own legal costs incurred in this transaction.