75-75c Queens Road, Buckhurst Hill, Essex, IG9

LOCATION:
The property is located midway along Queens Road which is the principal shopping destination for the residents of Buckhurst Hill. Queens Road is synonymous with independent eateries, fashion shops & beauticians. There are numerous parking bays as well as additional parking which is available in a Waitrose Supermarket at the bottom end of the road, close to Buckhurst Hill (Central Line Station) underground station.

ACCOMMODATION:
Comprising a ground floor shopfront premises trading as Alecco which is a licenced Italian restaurant & take-away. According to the VOA website, the restaurant extends to approximately 667sq ft (61.9sq m). On the first floor there is a well-presented self-contained 2-bedroom flat which is accessed at the side of the property. The flat provides 2 large double bedrooms, a spacious lounge, kitchen, WC / Shower room, utility room & an airing cupboard.

EXISTING TENANCIES & RENTAL INCOMES:
Commercial - Let on a FRI Lease for a term of 20 years from 2nd November 2018, subject to 5 yearly upward only rent reviews at a passing rent of £22,500pax. The Head Lease was entered into by Petiscos Limited & was subsequently assigned to Mr Ihab Shahin on 14th February 2023. We understand the Lease is contracted inside the Landlord & Tenant Act.

Residential - Let on a12 month AST from 2nd September 2024 producing an income of £1,600 pcm.

The current income is £41,700 per annum.

TENURE:
Freehold


PRICE:
Offers are invited in excess of £635,000 to include the benefit of the existing tenancies and incomes derived.
The adjoining properties in our client's ownership are also available, details on request.

ADMINISTRATIVE FEE:
Upon terms being agreed and prior to Solicitor's being instructed, 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.

LEGAL COSTS:
Each party are to be responsible for their own legal costs.

POSSESSION:
Upon completion of legalities if applicable.