High Road, Ilford, London, IG3

LOCK UP HALF SHOP
TO LET

Within a short walk of Seven Kings Crossrail Station
Sought after location
Laminate wood flooring

LOCATION:
The property is situated on High Road Seven Kings, adjacent the junction with Spencer Road & within a few minutes' walk of Seven Kings Main Line Crossrail Station. High Road Seven Kings is synonymous with the Motor Trade & hosts numerous car showrooms. Both Aldi & McDonalds are represented opposite along with a large Public Display & Pay Car Park.

ACCOMMODATION:
Comprising a lock-up 'half shop', laid out to provide a sales area with two additional areas which provide ancillary storage. The unit also has kitchen facilities & an external WC.
Approximate floor areas & dimensions are as follows:

Gross Frontage 9'3'' (2.81m)
Shop Depth 25'6'' (7.77m)
Shop width (max) 8'6'' (2.59m)
Sales area 217sq ft (20.18m)
Ancillary areas 134sq ft (5.58m sq)
Forecourt display 95sq ft (8.82sq m)

LEASE:
A new FRI lease is to be granted for a term of 5 years, subject to an upward only rent review at the end of the 3rd year, drawn outside the provisions of the Landlord & Tenant Act.

RENT:
£16,000pax, paid quarterly in advance. VAT is applicable.

RENT DEPOSIT:
In addition to 3-months' rent paid in advance our client requires a minimum of 3-months' rent deposit, which is to be paid on completion & held for the term.

PERSONAL GUARANTEE:
In the absence of satisfactory references / accounts, or trading history, our client reserves the right to ask for a personal guarantee.

BUSINESS RATES:
According to the Valuation Office Agency website website, the Rateable Value is £5,400.00. We believe the property will be exempt from business rates in the event the tenant does not occupy any other business premises however, interested parties are advised to make their own enquiries to the Local Authority to verify whether they are entitled to full or part relief.

LEGAL COSTS:
The ingoing tenant is to be responsible for the Landlord's legal costs limited to £1,750 plus VAT at the prevailing rate.

POSSESSION:
Upon completion of legalities.

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