Property Information
Address:
Queens Road, Buckhurst Hill, Essex
Price: Property no longer available.
Size: SOA
Primary Category: Investment
All Categories:
Investment,
Property Ref/Movehut: MH621427
Property Ref/Agent: 5014
*Please use the agent ref when calling the agent directly.
Property description
For sale
Freehold investment comprising 3 shops & a flat
Current income £53,000 per annum
Development potential (STPP)
** FREEHOLD INVESTMENT FOR SALE ** - Situated on Queens Road, which is the main commercial and shopping area of Buckhurst Hill, with numerous cafes and restaurants as well as many multiple and independent traders. Comprising 3 shops with residential accommodation above. The total income is £53,000 per annum and the premises may be suitable for redevelopment (subject to planning and vacant possession). Please call CLARKE HILLYER on for further information.
Location
Situated on Queens Road, the main commercial and shopping area of Buckhurst Hill, with numerous cafes and restaurants as well as many multiple and independent traders. Car parking facilities (pay and display) are available on the street. Buckhurst Hill Underground Station is on the Central Line and provides a regular service into Central London and out to Epping. Access to the motorway network is via the M11 at Loughton (southbound only) or the M25 at Waltham Abbey.
Description
Comprising 3 lock-up shops which are individually let to a dry cleaner/shoe repairer, a hair salon and a takeaway restaurant. Above the shops is a self-contained first floor flat which is let with the takeaway. At the rear of the property is a yard which is used for parking and this is accessed via Westbury Lane. The premises may be suitable for redevelopment, subject to vacant possession and obtaining the relevant consents. The premises are more particularly described as follows:
149 Queens Road: Sales area: 398 sq ft (37 sq m). Basement: 310 sq ft (28.8 sq m). W/c.
149a Queens Road: Sales area: 359 sq ft (33.4 sq m). Ancillary: 935 sq ft (86.9 sq m). W/c.
151/151a Queens Road: Sales area: 258 sq ft (24 sq m). Basement: 286 sq ft (26.6 sq m). W/c. 1st floor flat (not inspected).
All measurements quoted are approximate only.
Tenancies
149 Queens Road: let to a dry cleaner/shoe repairer on a 5 year lease from December 2018. There is a tenant's break clause in December 2021 and the current rent is £13,500 per annum.
149a Queens Road: let to a hair salon on a 5 year lease from November 2018. The current rent is £17,000 per annum.
151/151a Queens Road: the shop and flat are let a takeaway restaurant on a 16 year lease from June 2010. The current rent is £22,500 per annum.
Terms
The freehold, subject to the existing tenancies, is available for £975,000.
Business Rates
Epping Forest District Council have informed us of the following:
149 Queens Road: 2017 Rateable Value: £13,000; 2019/20 UBR: 0.491 P/£; 2019/20 Rates Payable: £6,383.
149a Queens Road: 2017 Rateable Value: £13,500; 2019/20 UBR: 0.491 P/£; 2019/20 Rates Payable: £6,628.50.
151 Queens Road: 2017 Rateable Value: £11,000; 2019/20 UBR: 0.491 P/£; 2019/20 Rates Payable: £5,401.
All interested parties are advised to verify these figures with the local rating authority.
Viewings
Strictly through sole agents Clarke Hillyer on .
EPC
149 Queens Road has an Energy Performance Certificate rating of D. EPCs have been ordered for the other parts of the property and will be available in due course.
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