Retail Property (high street) for sale175/ 175a/ 175b High Street North, London, E6 1JB
Offers in Excess of 1,175 sq. ft. | £1,100,000
- 1,175 sq ft (109 sq m)
- Use class orders: A2 Financial and Professional Services and C3 Dwelling Houses
East Ham is a densely populated area forming part of the London Borough of Newham and situated 8 miles east of Charing Cross.
The subject property lies on the west side of High Street North (A117) located within a parade of shops between its junction with Heigham Road to the North and Bendish Road to the South.
The area comprises of an excellent shopping district with a host of high street multiples, banks and restaurants adjoining to and located near to the subject property.
The property lies close to a very busy highway with excellent bus facilities including East Ham Tube station (District & Hammersmith & City) less than a minute walk.
The property comprises a three storey building arranged as a ground floor and basement A2 retail unit trading as money lender with staffroom, WC and kitchen to the rear. There is a separate rear access via the estate service road leading to communal external stairs providing access to a 1st floor terrace with separate doors entry to self-contained 1 bed flat and a 2 bed maisonette as well as direct access to the rear of the commercial unit.
Billing Authority London Borough of Newham.
Rateable Value: £23,000
Rates Payable (2016/2017): £11,431
2 bed self-contained maisonette - band (B) £964.87 per annum.
1 bed self-contained flat - band (B) £964.87 per annum.
CURRENT RENT RESERVE:
£65,800 per annum
We are instructed to seek offers in excess of £1.1m subject to contract and existing tenancies as above, for the freehold interest in the property. A purchase at this level would reflect a net interest yield of 5.7% allowing for purchaser costs at 0.573% and a gross yield of 6%.
VAT is NOT applicable to this property.
175 High Street North: Rating F (132)
175A High Street North: Rating C (76)
175B High Street North: Rating D (61)
Each party to bear their own legal costs incurred in this transaction, subject to the prospective purchaser solicitors undertaking to pay the landlord's abortive costs if the prospective purchaser withdraw from the transaction.
Strictly by appointment through the sole agent.
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