Thinking of buying or selling call 020 8599 9911

RICS   

FOR SALE FREEHOLD: FULLY LET AND INCOME PRODUCING HIGH STREET MIXED-USE INVESTMENT - SHOP + 3 X SELF-CONTAINED FLATS
21 HIGH STREET, INGATESTONE, ESSEX, CM4 9DU

1,930 sq.ft ( 179.30 m2  )

Key Features

•  Fully let and income producting
•  Opportunity to renew lease with commercial Tenant
•  All flats benefit from lawful use
•  Residential redevelopment angle to shop unit (STPP)

Location

The building is conveniently located on High Street (B1002), Ingatestone, close to it's junction with Stocks Lane and Fryerning Lane. It is adjoining to Jennings Bet, a few doors down from The Co-operative and opposite Budgens.The A12 thoroughfare can be accessed to the East via Roman Road. Ingatestone Station which has a service to London’s Liverpool Street is within 10 minutes’ walk.

Accommodation

At ground floor level, accommodation comprises commercial premises arranged as sales area, ancillary storage and cold room trading. The external stores and cold room can be either accessed from the shop or to the rear service road from Stock Lane also providing loading/unloading. Behind the trading area, there is a self-contained 1-bedroom flat accessible by virtue of an independent entrance to the front elevation of the building. The upper parts consist of two further self-contained flats, arranged as 1 x 1 bedroom split-level maisonette to first floor and loft (dormer) levels, and 1 x 2 bedroom flat to the first floor. Both of these flats are accessed from an external staircase to the rear of the building via the service road. Approximate areas are as follows in accordance with the RICS Code of Measuring Practice (6th Edition) on a Net Internal Area (NIA) basis for the retail unit, and for the flats, IPMS 3b:
Commercial Unit538 sq.ft ( 49.98 m2  )
21a (FF two bed)495 sq.ft ( 45.99 m2  )
21b (one bed split-level)499 sq.ft ( 46.36 m2  )
21c (GF one bed)398 sq.ft ( 36.98 m2  )
Total1,930 sq.ft ( 179.30 m2  )
FLOORPLANS AVAILABLE ON REQUEST

Lease Terms

The ground floor commercial unit is held on a Full Repairing and Insuring Lease for a term of 5 years from October 2016 Inside The Act at a rental of £10,800 p.ax. The Tenant is therefore holding over.

The flats are all rented on AST's on the following rentals per calendar month:

- 21a: £825.00

- 21b: £750.00

- 21c: £700.00

Total combined rent is therefore £38,100 per annum.

Price

Rates

Shop Rateable Value£7,800
UBR 2022/2349.9p
Rates Payable£3,892
Interested parties are advised to query these figures and check what banding the residential units fall within with Ingatestone and Fryerning Parish Council on 01277 676759.

Energy Performance Asset Rating

A+
A
B
C
71
This is how energy efficient
this building is
D
E
F
G

VAT

VAT is applicable in respect of this transaction.

Service Charge

Service charge is not applicable in respect of this transaction.

Legal Costs

Each party to bear their own legal fees.

Viewing

Strictly by prior appointment with sole selling agents Taylor Freeman Kataria

Contact:

Rajiv Kataria

Rajiv@cliffords-estates.co.uk

Priya Parmar

PParmar@cliffords-estates.co.uk

GET IN TOUCH

TFK 306, Green Lane, Ilford IG1
020 8599 9911

BUSINESS HOURS

MONDAY - FRIDAY 9:00 a.m. – 5:00 p.m.
SATURDAY & SUNDAY CLOSED

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