The Broadway, Woodford Green, Redbridge

A rare opportunity to acquire a prominent fully let mixed-use freehold investment in the heart of Woodford Green, directly opposite Woodford Underground Station and within this highly sought after Broadway location. The property comprises a ground floor commercial unit with basement, together with three self-contained 2-bedroom flats arranged over the upper floors.

The ground floor and basement are let as a coffee shop on a 20-year full repairing and insuring lease from 1st January 2022, expiring 31st December 2041, with a rent review in January 2027 and 5 yearly reviews thereafter. The upper parts comprise three 2-bedroom flats, all let and producing a total gross rental income of £90,600 per annum. Tenure is freehold subject to the existing tenancies.

Tenancy schedule

Ground floor shop & basement: £37,200 pax
1st floor 2-bed flat: £15,600 pa
2nd floor 2-bed flat: £21,000 pa
3rd floor 2-bed flat: £18,000 pa
Total: £90,600 per annum

The property occupies a highly visible position on The Broadway amongst a strong mix of local and multiple occupiers including Costa Coffee, Sainsbury’s Local, Cook and The Co-op, making this an attractive investment in an affluent and well-connected East London location.