1 bedroom commercial development to rentHall Lane, Chingford, London, E4
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
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
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