1 bedroom commercial development to rent

Hall Lane, Chingford, London, E4

£1,580 pcm

Property Description

Letting information:

Date available: Now
Furnishing: Part-furnished

Full description

LEASE FOR SALE ENTIRE BUILDING £1580

FOR SALE: COMMERCIAL PROPERTY LEASE CONSISTING OF 14 ? YEARS REMAINING ON THE LEASE.

THIS IS AN EXCELLENT INVESTMENT OPPORTUNITY AND WILL PROVIDE LONG TERM RESIDUAL EARNINGS FOR THE PROSPECTIVE BUYER.

CURRENTLY, THIS IS THE ONLY SHOP IN THE AREA OFFERING OYSTER SERVICES, CASH MACHINE, PAYPOINT - GAS/ELECTRIC/MOBILE PHONE TOP UPS.

MASSIVE POTENTIAL FOR FURTHER GROWTH AS THIS WAS AN ONGOING PROJECT FOR THE CURRENT OWNER - THERE IS MUCH MORE ROOM FOR INCREASED INCOME. PLEASE SEE BELOW!

INVESTMENT RETURN BREAKDOWN:

COST: £99,999 INCL. GOODWILL, FIXTURES & FITTINGS. PLUS STOCK (APPROX VALUE £15K)
LEASE: 14 ? YEARS REMAINING

PROPERTY EXPENSES:
RENT: £19,000 PER ANNUM (RENT REVIEW EVERY 5 YEARS)
BUSINESS RATES: £0 (RATEABLE VALUE LESS THAN £10K PER YEAR SO NOT BUSINESS RATES PAYABLE)

PROPERTY DETAILS AS FOLLOWS:
? COMMERCIAL A1 USE ON GROUND FLOOR; CURRENTLY OPERATING AS A NEWSAGENTS/CONVENIENCE STORE - SHOP HAS BEEN NEWLY REFURBISHED TO A HIGH STANDARD
? LARGE FIRST FLOOR 1 BEDROOM APARTMENT (CURRENTLY LET TO PRIVATE TENANT)
? STUDIO FLAT IN REAR OF SHOP (INCOMPLETE - FIXTURES & FITTINGS ONLY REQUIRED)
? LARGE GARDEN IN REAR - SEPARATE ACCESS
? LARGE GARAGE IN REAR - SEPARATE ACCESS
? CASH MACHINE
? PROVISIONS TO MAKE ANOTHER STUDIO FLAT ABOVE FIRST FLOOR APARTMENT
CURRENT INCOME FROM PROPERTY:
? SHOP TAKINGS APPROX £700 PER DAY - PROFIT APPROX £150 PER DAY.
MONTHLY NET PROFIT AVERAGE OF £4,500 PER MONTH
? FIRST FLOOR APARTMENT RENT - £1,300 PER MONTH
? CASH MACHINE - £250 APPROX PER MONTH (£120 FIXED MONTHLY RENTAL + COMMISSIONS FOR CASH WITHDRAWALS)
STUDIO FLAT IN REAR WAS RENTED FOR £700 PER MONTH PREVIOUSLY. HAS NOW BEEN MADE LARGER; ONCE REFURBISHMENT COMPLETE, WILL ACHIEVE £1,000 PCM COMFORTABLY.

CURRENT INCOME PER MONTH:
£6,050 PER MONTH ON AVERAGE

MINUS: £1,583 - RENT FOR PROPERTY LEASE (PAID QUARTERLY TO FREEHOLDER (£4,750 EVERY 3 MONTHS))

NET EARNINGS: £4,467 PER MONTH.

THE SHOP WILL BRING NET EARNINGS OF APPROXIMATELY £53,604 (£4,467 x 12 MONTHS)

WITH CURRENT INCOME FROM THE SHOP, THE ASKING PRICE WILL BE RECOVERED IN LESS THAN 2 YEARS.

PROFIT OVER THE NEXT 12 YEARS WILL BE £54,000 (PROFIT AFTER EXPENSES PER YEAR) x 12 YEARS
= £643,248 (OVER 12 YEARS)

THE ABOVE IS ASSUMING THAT THE STUDIO FLAT IN THE REAR IS NOT COMPLETED. THE GARAGE IN THE REAR IS LEFT VACANT AND THE LAND AT THE FRONT OF THE PROPERTY IS NOT UTILISED.

IF PROPERTY'S POTENTIAL IS MAXIMISED, IT WILL EARN SIGNIFICANTLY MORE.

letting fees apply


Nearest stations

  • Angel Road (0.9 mi)
  • Highams Park (1.3 mi)
  • Northumberland Park (1.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

First Contact Property Services, London

826 Romford Road, London, E12 5JG

020 8012 5252 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Angel Road (0.9 mi)
  • Highams Park (1.3 mi)
  • Northumberland Park (1.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

First Contact Property Services, London

826 Romford Road, London, E12 5JG

020 8012 5252 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Administration fees may apply when renting a property in England, Wales or Northern Ireland. For more details, please contact the agent.

Property reference fc/299Hall. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by First Contact Property Services, London.

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