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8 Chapel Road, Ilford, Essex, IG1

Fixed Price
£900,000

£361.01 per sq. ft.

Business rates & charges may apply

Blue Alpine, London
SIZE AVAILABLE
2,493 sq. ft.
(232 sq. m.)
SECTOR
5 bedroom mixed use property for sale
USE CLASS
Use class orders: A1 Shops, A3 Restaurants and Cafes and Class E
A1, A3, E

Key features

  • The property benefits from use of a rear service road/car park.
  • Located within short walk to Ilford train station

Property description

Tenure: Freehold

Investment Consideration:
Gross Initial Yield: 6.47%
Rental Income: £58,200 p.a.
VAT is NOT applicable to this property
Comprises Ground Floor Retail Shop (Front) , Restaurant with Basement (Rear) and 5-Bedroom Flat at First and Second Floor.
The property benefits from use of a rear service road/car park.
Located within short walk to Ilford train station
Nearby occupiers include Barclays, NatWest, Iceland, Boots, and Starbucks, amongst many more.

Property Description:
The property comprises ground floor retail shop at front, restaurant with basement storage at rear and a self-contained 5-bed flat on the first and second floor. In addition, the property benefits from use of a rear service road/car park.

The property provides the following accommodation and dimensions:
Ground Floor: Retail Shop 15 sq m (160 sq ft)
Ground Floor: Restaurant 84 sq m (907 sq ft)
Basement: Restaurant Storage 37 sq m (400 sq ft)
First/Second Floor: Residential Flat 95 sq m (1,026 sq ft)
5 Bedrooms, Kitchen, Living Room, Shower Room and Bathroom/WC
Total area size: 231 sq m (2,493 sq ft)

Tenancy:
The ground floor shop (front) is at present let to an Individual for a term of 5 Years from 1st August 2019 at a current rent of £18,000 per annum and the lease contains full repairing and insuring covenants. Tenant option to determine at any time with minimum 1 month notice. Deposit held of £4,500. The ground floor restaurant (rear) is at present let to an Individual for a term of 3 Years from 1st February 2020 at a current rent of £25,200 per annum and the lease contains full repairing and insuring covenants. No breaks. The first/second floor flat is at present let on a Guaranteed Rent Agreement to Property Masterz Uk Ltd for a term of 5 Years from 1st May 2019 at a current rent of £15,000 per annum.

Location:
Ilford is a large town in east London, England, located in the ceremonial county of Greater London and the historic county of Essex. Identified as a metropolitan centre in the London Plan, Ilford is classed as a significant commercial and retail centre for the wider south east of England. The Property is located approximately 100 metres to The Exchange Mall shopping centre and within short walk to Ilford train station , which provides connections to London Liverpool Street, Shenfield and Stratford. Occupiers nearby include Barclays, NatWest, Iceland, Boots, and Starbucks, amongst many more.

Brochures

8 Chapel Road, Ilford, Essex, IG1

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Ilford Station0.1 miles
  • Manor Park Station1.1 miles
  • Woodgrange Park Station1.2 miles

About Blue Alpine, London

83c Ashley Gardens, Thirleby Road, London, SW1P 1HG

Blue Alpine is a leading advisory company that helps clients around the world turn property into a path for growth. We plan and deliver solutions that manage risk, optimise benefits, and expand the power of capital to protect and strengthen portfolios. Together, we unlock potential. At Blue Alpine, we believe a comprehensive understanding of a client’s financial goals are key to helping them fulfil their investment expectations. By employing a transparent and consultative approach we can asse

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