Commercial Development for sale

Cranbrook Road, Ilford, Essex, IG1

Offers in Excess of 14,000 sq. ft. | £3,500,000

Property Description

Commercial information

  • 14,000 sq ft (1,300 sq m)

Key features

  • Massive development potential - Conversion of offices into flats
  • Further 2 floors could be added subject to planning
  • Five storey building
  • Large grocery shop
  • Basement Venue
  • Three floors of offices above
  • Freehold
  • Walking distance to Ilford Station

Full description

Tenure: Freehold

Location:

This freehold commercial property is located in a very popular location comprising of three separate units, a huge grocery shop, spacious basement night club/restaurant and offices above. Nearby notable occupiers including Pizza hut, KFC and Subway. The Great spoon of Ilford Public house is also located on the same road.

Ilford is situated within the London Borough of Redbridge. It is a principal commercial centre within the Borough and is located approximately nine miles north east of central London, four miles west of Romford and two miles north of Barking.

The unit is located on the corner of Wellesley Road with Somerfield supermarket on the opposite corner.



Description:
The unit comprises of a ground floor grocery shop and a basement venue hall. The remaining upper parts comprise first, second and third floor serviced office accommodation which is subject to an existing lease.

Accommodation:
Ground floor = 331 sq meters (3563 sq ft)
Basement = 334 sq meters (3640 sq ft)
First floor = 312 sq meters (3361 sq ft)
Second floor = 312 sq meters (3361 sq ft)
Third floor = 35 sq meters (374 sq ft)

Approx. 14,000 sq ft


Leases:
The ground floor Grocery: let to a Polish supermarket for 6 years from 31 January 2012 at 65000 pa

Basement venue: let to a Shisha Bar at a rent of 45000 per annum for 7 years from January 2012

Upper offices: The 1st and 2nd floors are let to Team 2 Telecommunications Limited for a term of 20 years (25 March 1998) at a rent of 65,000 p.a.
FRI with 5 yearly upward only rent reviews. Lease assigned to Bizvantage Systems limited

TOTAL RENT: 175,000 p.a


Rates:
We have been informed by the local Rating Authority that the following rate-able value applies to the ground floor only: - 2005 list - 40,250. Interested parties are advised to make their own enquiries.

Terms:
Our clients are looking to dispose of their freehold interest and offers are invited in excess of 3,500,000. (VAT Not Applicable)


Nearest stations

  • Ilford (0.3 mi)
  • Gants Hill (1.0 mi)
  • Manor Park (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Marvel & Co, Forest Gate

367 Katherine Road, Forest Gate, London, E7 8LT

020 8471 0845 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.

Floorplans


To view this property or request more details, contact:

Marvel & Co, Forest Gate

367 Katherine Road, Forest Gate, London, E7 8LT

020 8471 0845 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

  • Ilford (0.3 mi)
  • Gants Hill (1.0 mi)
  • Manor Park (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Marvel & Co, Forest Gate

367 Katherine Road, Forest Gate, London, E7 8LT

020 8471 0845 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.

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