The property comprises a middle terrace 2 storey commercial building. The ground floor measuring c2000 sqft is used as a restaurant within the Use Class A3 (Retail) and the 1st floor for staff accommodation.
Location The property occupies a prominent position on the High Road (A118) in Ilford, within the London Borough of Redbridge. The immediate area comprises a mix of commercial and residential uses, and is currently undergoing extensive regeneration.
Ilford town centre is located approximately 0.25 miles (circa 5 minute walk) to the west of the site, offering numerous shops and restaurants as well as Ilford Exchange Shopping Centre.
Ilford Station is located circa 0.5 miles to the west and Seven Kings Station is located circa 0.8 miles to the east. Both now operate Crossrail / Elizabeth Line services with journey times including:
Ilford to Canary Wharf: 17 minutes Ilford to Bond Street: 24 minutes Ilford to London Liverpool Street: 18 minutes
Tenancies The entire property is let on a 10 year FRI lease from December 2016 with a break clause in March 2021.
The initial rent is £59,000 per annum subject to rent review in March 2021.
Tenure The property will be sold freehold with the existing tenant remaining in-situ.
FREEHOLD INVESTMENT OPPORTUNITY WITH DEVELOPMENT POTENTIAL (subject to planning permission)
Type: Residential, Retail
307-309 High Road, Ilford, IG1 1NRGBIlfordGreater LondonIG1 1NR307-309, High Road
The property comprises of a ground floor lock up shop currently trading as a car repairs and MOT garage and has been trading since approx 1990, the lease expires 1st August 2021 paying £14,250 p.a.x.
The shop benefits from air conditioning, suspended ceiling, rear shutter/access, alarm, electric roller shutter to the front and carpeting. The shop has a total area of 1,247 sqft (115.85 sqm), which includes a retail area of 595 sqft (55.29 sqm), a rear ancillary area of 652 sqft (60.60 sqm) and additionally a parking space on the forecourt.
There is a vacant 2 bedroom flat above. The pictures below of the flat are prior to the current AST. We haven't inspected the flat but are informed that its one single and one double bedroom.