Executive Summary
- Freehold mixed-use multi-let investment opportunity in Romford, Essex currently producing £71,476 per annum
- Comprising of 2 x commercial units, 2 x residential units with parking and garages to the rear
- Approximately 0.2 miles from Romford station which is on the Queen Elizabeth Line (Crossrail)
- Development potential (subject to consents) for a roof top extension and scheme at the rear of the property
- Offers are invited in excess of £925,000, which represents a gross yield of 7.7%, against the current income
Location
The property is situated on Victoria Road, 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 fueled 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 3 floors with a car park and garages to the rear. The ground floor consists of two commercial units. The upper floors provide 2 x split level self-contained 3-bedroom apartments. Please refer to the schedule for a breakdown of sizes.
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 commercial units are let on licences and the flats are let on AST agreements. The car parking spaces and garages are let on informal agreements. Please refer to the accomodation schedule on the brochure for more detail.
Terms
Offers are invited in excess of £925,000 for the freehold interest, which represents a gross yield of 7.7%, against the current income.
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.
Data Room
A data room has been set up and access is available on request.
Viewings
Viewings are strictly by appointment through sole agents Harston&Co.
