Forest Road, Loughton, Essex, IG10

Location Details:
Forest Road is situated to the North of High Road, Loughton comprising a mix of commercial and residential occupiers with the subject property being situated immediately opposite Clifton Road and within approximately 400 yards of the junction with the High Road. Occupiers situated close by include, The Cotton Box, Associated Glass, Little Fidgets & Forest Pet Foods.

Accommodation:
Comprising a double fronted property which would lend itself to a wide range of uses including retail, office or medical amongst others. The property further benefits from having a dry full height basement, accessed via a wide staircase from the sales area, laid out to provide three private offices created using demountable partitioning, together with a further area in clear space. The basement can also be accessed via a hatch set within the pavement & from the rear yard. WC & kitchen facilities are also provided. At the front of the property there is a forecourt suitable for either display purposes or parking for 2 cars. To the rear there is a car park within which there are three demised spaces. Approximate floor areas and dimensions are as follows:


Gross Frontage: 40 ft (12.19 m)
Shop Depth: 31 ft 9ins (9.67m)
Shop Width: 44 ft 9ins(max) (13.63 m)
Sales Area: 1,238sq ft (115.13m2)
Basement: 1,105sq ft (102.5m2)

Tenure:
A new Full Repairing and Insuring lease is to be made available for a term to be agreed, subject to periodic upward only rent reviews. The Lease will be granted inside the Landlord & Tenant Act.

Rent:
£42,000 per annum exclusive, payable quarterly in advance. We understand VAT is not applicable.

Business Rates:
We are verbally advised by the Local Authority that the premises have been assessed for business rates as follows: -
Rateable Value: £30,750
Rates Payable: (2023/2024) £15,344.25p per annum.

Retail & Leisure premises - From 01/04/23 until 31/03/24 at the earliest, a tenant's rates liability will be based on paying 25% of the annual rates payable (RP). Whilst this information is provided in good faith, prospective tenants are advised to make their own enquiries to establish whether they qualify for full or partial rate relief.

Legal Costs:
The ingoing tenant is to be responsible for the Landlords reasonable legal costs.


Administrative Fee:
Upon terms being agreed and prior to Solicitors being instructed, the prospective tenant or purchaser is to pay an administrative fee of £500 plus VAT to Bennett Phillips Luton. This fee will cover all associated administrative costs including any referencing fees incurred. In the event that the Landlord or Vendor withdraws from the transaction once solicitors are instructed, 50% of the fee will be refunded.

Possession:
Immediate upon completion of legal formalities and subject to the simultaneous surrender of the existing lease.

Viewing:
Strictly by appointment through sole agents Bennett Phillips Luton | , Contact Marc Luton at