1. Properties
  2. Iceland, Market Place, Romford, Essex, RM1 3AB
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Romford,,London,,Uk,,December,8th,,2021,,The,Famous,Romford,Market
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London,Uk-,May,28th,2018:,People,Shopping,In,The,Historic
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  • For Sale
  • Offers Over £800,000
  • Iceland, Market Place, Romford, Essex, RM1 3AB
  • Retail Investment

Retail Investment

| December 9, 2024

Executive Summary

  • Prime retail investment located in Romford town centre fronting onto the historic Romford market
  • Let to Iceland on a new 5-year lease from September 2024 with a rebased rent of £67,500 per annum
  • Ground floor retail unit providing a gross internal floor area of 6,984 square feet (649.11 square metres)
  • Offers are invited in excess of £800,000, which represents a gross yield of 8.44% and a very low capital value of approximately £114.55 per square foot
  • EPC Rating - E

Location
Located on Market Place fronting onto the historic Romford Market in the heart of Romford town centre. 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. Romford town centre has a number of big-name tenants including Marks & Spencer, Primark, H&M, TK Maxx and Sainsbury’s. Nearby tenants include British Heart Foundation, Home Bargains, Primark, Travelodge and Sports Direct. Romford railway 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 times and distances given are approximate only.

Description
A ground floor retail unit that forms part of a modern mixed-use block built between 2007-2008. The property has a gross internal floor area of 6,984 square feet (649.11 square metres). The property provides excellent frontage onto Romford Market. Please note that these sizes given are approximate only and the floor area has been provided by the Vendor. All interested parties are advised to rely on their own inspection and survey.

Tenancy
The property is let to Iceland Foods Ltd on 5-year lease from September 2024 with a current passing rent of £67,500 per annum, which equates to a rent of £9.66 per square foot. The rent has been rebased from a previous rent of £95,000 per annum.

Tenure
The property will be sold by way of a 999-year lease and subject to the existing occupational lease. The head lease will provide flexibility regarding future usage.

VAT
The property has been elected for VAT. We expect the sale can be treated as a transfer of a going concern (TOGC).

Terms
Offers are invited in excess of £800,000, which represents a gross yield of 8.44% and a very low capital value of approximately £114.55 per square foot.

Viewings
Viewings are strictly by appointment through sole agents Harston&Co.

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The Site and all the content on the Site is provided for use "as is" and "as available" and any reliance upon the same is at your sole risk. Whilst We take all reasonable care to ensure that the content on this Site is accurate, We cannot guarantee its accuracy and We reserve the right to change the content on this Site at any time. We make no representations or warranties of any kind with respect to this Site or the content of the Site, including any text, graphics, advertisements, links or other items. Further more, neither We nor any other contributor to this website make any representation or gives any warranty, condition, undertaking or term either expressed or implied as to the condition, quality, performance, accuracy, fitness for purpose, completeness or freedom from viruses of the content contained on the Site or that such content will be accurate, up to date, uninterrupted or error free.



If you are looking to sell, let, or acquire a commercial, investment or development property or would like to know more about our asset or property management services, please contact our office to discuss.

Contact Info

Office Address

Harston&Co

247 High Road

South Woodford

E18 2PB

Phone Call

020 3371 0061

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Harston Property Ltd t/a Harston&Co. Registered office: 7 The Shrubberies, George Lane, London, E18 1BD. Registered in England. Registered number: 10618714.

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