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AGENT'S DETAILS


Commercial Investment For Sale

For sale: £825,000.00|217 Sq M|Retail, Mixed use, Hotels, Other, Other Property Types & Opportunities, Licensed & Leisure

PROPERTY DETAILS

FOR SALE£825,000.00
SIZE217 Sq M
ADDRESS7 Argyle Road, Ilford
TYPERetail, Mixed use, Hotels, Other, Other Property Types & Opportunities, Licensed & Leisure
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON1st February 2021

DESCRIPTION

A mid-terraced triple fronted property used as guest house comprising of 12 rooms, 11 are doubles with 1 single, 9 en suite and 2 communal bathrooms, garden to the rear.

Located just off the main thoroughfare of Ilford Town Centre amongst a mixed use of properties such as Hotels, Guest Houses and also the homes of local families and other residents.

Ilford is a thriving and well populated commercial and retail centre within the London Borough of Redbridge, it has excellent amenities such as The Exchange Shopping Centre that has over 90 shops, department stores and restaurants plus the paved area of High Road, Ilford with occupiers such as Primark, Marks & Spencer, Wilko, Costa, WHSmith, H&M, Metro Bank and Burger King.

Ilford Train station (TFL Rail / Crossrail) is within a few minutes’ walk and offers excellent transport links to Liverpool Street Station in just 18 minutes.

Overall size of Guest House 217 m2 2335.77 sq. ft

Individual (approximate) Room sizes inc of en suites.
Ground Floor
Room 1 - Double en suite 16.8 m2 180.83 sq. ft
Room 2 – Double en suite 13.8 m2 148.54 sq. ft
Room 3 – Double en suite 17.3 m2 186.22 sq. ft
Room 4 – Double en suite 14.6 m2 157.15 sq. ft
Room 5 – Double en suite 11.85 m2 127.55 sq. ft
Room 6 – Double en suite 11.76 m2 126.58 sq. ft

First Floor
Room 7 – Double en suite 13.02 m2 140.15 sq. ft
Room 8 – Double 13.6 m2 146.39 sq. ft
Room 9 – Double 15.8 m2 170.07 sq. ft
Room 10 – Double en suite 11.18 m2 120.34 sq. ft
Room 11 – Double en suite 9.5 m2 102.26 sq. ft
Room 12 – Single 6.3 m2 678.13 sq. ft

Tenant & Tenancies
The entire property is rented to the Arran Guest House http://www.arranguesthouse.co.uk/ and is held for a term of 12 years on an FRI lease expiring in Oct 2027, with a rent review due in October 2021 and every third year thereafter.

Current Passing Rent £32,500 pax

Price
Offers are sought in excess of £825,000, (Eight Hundred & Twenty-Five Thousand pounds), subject to contract with the existing tenancy.

Overage Clause
For any offers under £825,000 the seller will consider the application of overage at 50% linked to any development of the property within 10 years of the sale resulting in an increase in value of the property. Full terms and conditions to be negotiated on a case-by-case basis.

Legal Costs
Each party to pay their own cost.

Viewing
Due to the Covid 19 Pandemic viewing is highly restricted and will be arranged strictly by appointment only via sole agents

LOCATION

Location: 7 Argyle Road, Ilford

Gants Hill (1.1 miles)

Newbury Park (1.4 miles)

Redbridge (1.4 miles)

Ilford (0.2 miles)

Manor Park (1.0 miles)

Seven Kings (1.3 miles)

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