High Street North, London

A House Sold Subject to Contract in London

£995,000

FREEHOLD INVESTMENT AND DEVELOPMENT OPPORTUNITY. Mid-terraced three storey building comprising of a ground floor shop unit and 2no two bedroom self contained flats above, which are accessed separately from the rear. Rental income circa £76,000 pa

FREEHOLD COMMERCIAL INVESTMENT

WITH POTENTIAL DEVELOPMENT.

DECRIPTION.

Mid-terraced three storey building comprising of a ground floor shop unit and 2no two bedroom self contained flats above, which are accessed separately from the rear.

LOCATION.

The property is well located in the busy High Street parade with a variety of multiple occupiers including Tesco Express, Barclays Bank, Primark, Santander and Costa. Also conveniently located for East Ham underground station on the District Line,

DEVELOPMENT POTENTIAL.

To the rear of the building is the potential to create three flats inline with the adjacent property. Subject to planning permission.

ACCOMMODATION.

GROUND FLOOR SHOP UNIT.

The ground floor shop unit is approximately 1,333 sq ft (123.85) sq m

First Floor Flat

Comprising of two bedrooms, lounge, kitchen and bathroom. The self contained flat is accessed via the rear of the building.

Second Floor Flat.

Comprising of two bedrooms, lounge, kitchen and bathroom. The self contained flat is accessed via the rear of the building.

TENANCY DETAILS.

The ground floor shop unit is subject to a repairing and insuring lease for a term of ten years commencing from 14/01/2011 at a current rent of £50,000 pa. We understand that a new five year lease term is being negotiated at a rent of £50,000pa

The first floor flat is subject to an Assured Shorthold Tenancy for a term of 12 months commencing 23rd August 2020 at a rent of £1,145pcm.

The second floor flat is subject to an Assured Shorthold Tenancy for a term of 12 months commencing 11th December 2019 at a rent of £1,095pcm

DEVELOPMENT POTENTIAL.

The building offers the potential to create three further flats to the rear, subject to planning permission.

EPC RATING.

Ground Floor: C
First Floor: D
Second Floor D

VIEWING.

Strictly by appointment only.

Floorplan for High Street North, London