Executive Summary
- Freehold mixed-use multi-let investment opportunity in Romford, Essex, currently producing £25,800 per annum
- Approximately 0.2 miles from Romford station, which is on the Queen Elizabeth line (Crossrail)
- The property comprises 1 x commercial unit and 1 x residential unit
- Potential for a roof top extension to add additional massing (subject to consents)
- Offers are invited in excess of £375,000, which represents a gross yield of 6.8%
- EPC Rating - D (Residential) & TBC (Commercial)
Location
The property is situated on Victoria Road in Romford, close to the junction with King Edward Road. Romford is within the London Borough of Havering and is 15 miles east of London. Romford is one of London’s key suburban commercial centres and lies 11 miles northeast of the City of London, 8 miles east of Stratford and 6 miles southwest of Brentwood.
The immediate vicinity is occupied by a range of national and well-established independent businesses, which provides a vibrant environment popular with young professionals and families working in central London. The area has benefited from significant regeneration in recent years, fuelled by the opening of the Queen Elizabeth line (Crossrail).
The area is well served by public transport. Romford station is 0.2 miles away, providing a regular service to Stratford and London Liverpool Street on the Elizabeth line (Crossrail). The area benefits from excellent road connectivity with the A127, A12, A406, M11 and M25 all within easy reach. Romford town centre is well served by buses.
Please note all distances given are approximate only
Description
The property is arranged over 2 floors, with a commercial unit on the ground floor and a residential unit on the first floor. We have been informed that the size of each
part is as follows:
Ground Floor Commercial Unit = 1,139 square feet (105.9 square metres)
First Floor Residential unit = 425 square feet (39.5 square metres)
Please note that the size given is approximate only. All interested parties are advised to rely on their own inspection and survey.
Tenancy
The ground floor is let for £14,400 per annum on a 5-year lease from April 2025. Each party may terminate the lease with a minimum of 6 months notice.
The first floor is let on an AST agreement for £950 per calendar month.
Terms
Offers are invited in excess of £375,000, which represents a gross yield of 6.8%.
Tenure
The freehold interest is to be sold subject to the existing tenancies.
VAT
We have been informed that property is not elected for VAT.
Viewings
Viewings are strictly by appointment through sole agents Harston&Co.
