Eastern Avenue, Ilford, Redbridge
Size
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Tenure
Freehold
EPC
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Parking
1
- Primary use
- Shop
- Other use(s)
- Mixed use
- Frontage
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No floor / site plan
Key features
- - MIXED-USE FREEHOLD INVESTMENT
- - FULLY LET COMMERCIAL & RESIDENTIAL PROPERTY
- - GROSS RENTAL INCOME £43,800 PER ANNUM
- - ATTRACTIVE 7.68% GROSS RENTAL YIELD
- - GROUND FLOOR OCCUPIED BY FUNERAL DIRECTORS
- - COMMERCIAL RENTAL INCOME £27,600 PA
- - RESIDENTIAL RENTAL INCOME £16,200 PA
- - APPROXIMATELY 9 YEARS REMAINING ON COMMERCIAL LEASE
- - APPROXIMATELY 3½ YEARS REMAINING ON RESIDENTIAL AGREEMENT
- - PROMINENT EASTERN AVENUE (A12) LOCATION
Description
The property is offered for sale as a fully income-producing mixed-use freehold investment, comprising ground-floor commercial accommodation and a self-contained first-floor residential flat.
The ground floor is occupied by funeral directors under a 10-year commercial lease, with approximately nine years remaining, producing £27,600 per annum.
The first-floor residential accommodation is let under a five-year guaranteed rental arrangement, with approximately three and a half years remaining, producing £16,200 per annum.
Investment Summary
- Gross annual rental income: £43,800
- Commercial rental income: £27,600 per annum
- Residential rental income: £16,200 per annum
- Gross rental yield: 7.68%
- Freehold asking price: £570,000
Location
The property occupies a prominent position fronting Eastern Avenue (A12), providing excellent road connections towards Central London, Ilford, Redbridge and the M11 motorway.
The surrounding area comprises a mixture of established residential neighbourhoods and commercial uses, making this a well-positioned investment within East London.
Tenure
Freehold, subject to the existing occupational agreements.
Price
£570,000.
Legal Costs
Each party is to bear its own legal costs incurred in the transaction.
VAT
VAT status to be confirmed.
- Service charge
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- Business rates
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- Use class
- E, C3
- Listed building
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- Floors in building
- 1
An Energy Performance certificate helps you understand the current energy efficiency of a property.
Read more about EPC requirements- BREEAM rating
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- Environmental description
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Brochure
Eastern Avenue, Ilford, Redbridge
About Countrywide Commercial, Greater London
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Disclaimer - Property reference 956EstnAv. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Countrywide Commercial, Greater London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.