Executive Summary
- Three-storey building with a small yard to the rear. It consists of 1 x double fronted retail unit with ancillary storage space on the upper floors and 1 x flat (2 bedrooms)
- The property will be sold with vacant possession of the commercial part
- Potential (STPP) to convert and extend the upper parts for a residential scheme
- Offers are invited in region of £1,050,000 for the freehold interest
- EPC Rating – D (Commercial) & E (Residential)
Location
The property is located on Old Church Road (A112) close to the junction with Chingford Mount Road and New Road. It is 0.9 miles northeast of the North Circular (A406) which provides easy access to the M11, A12 and A10. Highams Park Overground Station is located to the east 1.6 miles away (21 minutes to Liverpool Street station). The area is well served by buses. Nearby occupiers include Scrivens Opticians, The Works, Iceland, Ladbrokes, Specsavers, Sainsbury’s, Costa Coffee, British Heart Foundation, and Timpsons.
Please note all times and distances given are approximate only.
Description
The property is arranged over three floors and has a small rear yard area. The ground floor is arranged as a double fronted retail unit with ancillary space over part of the first and second floor. It was most recently occupied by Boots. The floor sizes for the commercial part are:
Ground Floor = 2,053 square feet (190.73 square metres)
First Floor = 832 square feet (77.3 square metres)
Second Floor = 174 square feet (16.17 square metres)
Total = 3,500 square feet (325.17 square metres)
The apartment provides 2-bedrooms arranged over part first and second floor. It is currently let on AST agreement for £1,275 per calendar month (15,300 per annum).
Subject to obtaining appropriate consents the ancillary storage space could be converted into residential use. There is also potential to extend the property into the loft and at the rear.
Please note that the sizes given are approximate only. The commercial areas have been provided by the Vendor and the residential floor area sourced from the EPC. All interested parties are advised to rely on their own inspection and survey.
Tenure
The freehold interest is to be sold with vacant possession of the commercial part. The flat will be subject to an AST agreement.
VAT
We have been informed that property has been elected for VAT.
Terms
Offers are invited in region of £1,050,000 for the freehold interest.
Viewings
Viewings are strictly by appointment through sole agent Harston&Co.
