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999-Year Commercial Investment FOR SALE - High Road, Leytonstone

For sale: £450,000.00|Retail, General Retail, Retail - High Street, Other, Other Property Types & Opportunities

Property details

FOR SALE£450,000.00
ADDRESS696 High Road, Leytonstone, Essex
TYPERetail, General Retail, Retail - High Street, Other, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Leasehold
POSTED ON25th January 2024

Description

Location:
Leytonstone is a mixed residential suburb located in east London, within the London Borough of Waltham Forest. It's situated approximately 11 km (7 miles) to the Northeast of Central London and offers good traffic links to the A12, A406 (North Circular) and M11. Leytonstone underground station is within walking distance and provides regular services to the heart of London via the Central Line.

High Road Leytonstone is a long retail street that boasts many independent retailers, trendy shops, restaurants, coffee shops and bars. Some popular national chains in the area include Costa Coffee, Tesco, McDonalds.

The property is arranged as 4 retail units and has a self-contained basement, which can be accessed from the rear.

Please find below a schedule of tenancies and approximate property sizes:

Ground
696 – River Kwai: 7-year lease expiring in December 2025, paying £2200 PCM – size: 92.79 m2 / 998.78 sq. ft.
696b – Optim Estates: Paying a rent of £930 PCM, currently holding over – size: 18 m2 / 193.75 sq. ft.
696c – AA Star Beauty: Paying a rent of £650 PCM, currently holding over – size: 14.4 m2 / 155 sq. ft.
696d – Vacant – size: 6 m2 / 64.58 sq. ft.

Total Current Rent: £45,360 per annum (please note that it is the borrower who has confirmed the rents above are being paid by the current tenants).

Basement
Vacant, requiring full renovation, accessed from the rear – size: 165 m2 / 1400 sq. ft.

Tenure:
A new 999-year lease will be granted for the ground floor and basement areas.

Price:
We are seeking offers in the region of £450,000, subject to contract and receivership conditions.

Receivership Sale
The Property is being marketed for sale on behalf of LPA Receivers and therefore, as is usual in a receivership sale, no representations, warranties or guarantees in any respect, will be given. The Receivers are not bound to accept the highest or indeed any offer and they act as agents of the borrower and without personal liability.

Legal Costs
Each Party to pay their own legal costs

Anti-Money Laundering
Due to recent changes in the Anti Money Laundering regulation, it is now standard procedure to undertake a Personal and Company and general AML checks.

Location

marker
Location: 696 High Road, Leytonstone, Essex

Leytonstone (0.2 miles)

Wanstead (0.7 miles)

Snaresbrook (0.9 miles)

Leytonstone High Road (0.5 miles)

Leyton Midland Road (0.9 miles)

Wanstead Park (1.4 miles)

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