Executive Summary
- Two-storey building with commercial use on the ground floor (Use Class E) and a self-contained 1 bedroom flat on the first floor.
- The ground floor is to be sold with vacant possession and the first floor is let on an AST agreement with a current passing rent of £875 per calendar month.
- Located close to The Bell junction approximately 0.6 miles from Walthamstow Central station.
- Offers are invited in excess of £375,000, subject to contract.
Location
The property is located on Hoe Street (A112) close to The Bell junction which forms the crossroads with Forest Road (A503) and Chingford Road (A112). Walthamstow Central station is 0.6 miles away and provides a regular service into central London via the London Underground (Victoria Line) and London Overground. The famous Walthamstow market and The Mall shopping centre is within walking distance. The area is well served by buses. The A406 (North Circular) is approximately 1 mile away and provides access to the A10, A12 and M11.
Please note all distances given are approximate only.
Description
The property is currently arranged over two floors and benefits from a rear yard. The ground floor has most recently been used for a training centre (historically D1 use), which we understand now falls within Use Class E. The approximate gross internal area is 664 square feet (61.74 square metres). The ground floor is currently vacant, and we would expect it to be popular with a range of potential occupiers.
The estimated rental value is £12,000 - £14,000 per annum, assuming the space is let on standard commercial terms. The first floor is accessed from the front of the building and provides access to a self-contained 1 bedroom flat. The flat is currently let on an AST agreement for £875 per calendar month.
The estimated potential annual income for the building is £24,000 - £26,000 per annum.
Business Rates
The property currently has a rateable value of £6,900 per annum. We would anticipate most occupants being able to obtain business rates relief. All interested parties are advised to check their eligibility with the London Borough of Waltham Forest business rates department.
Terms
Offers are invited in excess of £375,000, subject to contract. The property is to be sold with full vacant possession of the ground floor commercial unit and subject to the AST agreement for the first floor self-contained flat.
VAT
It is understood that the building is not elected for VAT.
Viewings
Viewings are strictly by appointment through sole agents Harston&Co.
