FOR SALE - HIGHLY REVERSIONARY MIXED-USE FREEHOLD INVESTMENT: RETAIL PREMISES WITH 2 BEDROOM SPLIT-LEVEL MAISONETTE
708 GREEN LANE, DAGENHAM, ESSEX, RM8 1YX

Key Features

•  ERV of £25,000.00 p.ax
•  Asset Maximisation Angle
•  Unexpired lease term of 6 years

Location

The premises occupies a prominent position situated on a secondary parade of shops at the eastern end of Green Lane (A1083). Goodmayes Railway Station is in close proximity to the site, located 0.5 miles North-West of the site providing direct access to Liverpool Street Station. It is also subject to the new Crossail scheme. On-street parking can be found to the front of the property operable by way of pay and display.

Accommodation

Mid-terrace mixed-use building arranged as retail premises at ground floor level with upper parts configured as a split-level maisonette to the first and second floor, accessible through the ground floor shop's rear yard. The ground floor benefits from a predominantly open plan sales area leading to a WC to the rear, along with access through the back door of the premises into a yard, access of which is also through a service road behind Green Lane. Accommodation at first floor level consists of bathroom, WC, kitchen and dining area and separate living room. The second floor appears to have been converted into a dormer with two separate bedrooms. Approximate areas are as follows (NIA for commercial and GIA for residential):

Ground Floor	574 sq.ft ( 53.33 m2  )
First Floor	402 sq.ft ( 37.35 m2  )
Second Floor	82 sq.ft ( 7.62 m2  )
Total

Lease Terms

The whole property was let by virtue of a Full Repairing and Insuring (FRI) for a term of 9 years from 1st July 2021 thus expiring on 30th June 2030, at a current rent passing of £16,000.00 with rent review provisions on an upwards only basis on the 1st July 2024 and 1st July 2028. The ERV is £25,000.00 p.ax.

There is a Tenant only rolling break clause exercisable on the 3rd-8th anniversary of the lease.

Further details are available on request

Price

Rates

Rateable Value

The rateable value for the commercial part of the demise is £12,250 and the Council Tax band for the flat is C.

Energy Performance Asset Rating

EPC Awaited

A+
A
B
C
D
E
F
G

VAT

Value Added Tax is not applicable in respect of this property.

Service Charge

A Service charge is not applicable in respect of this property.

Legal Costs

Each party to bear their own legal costs.

Viewing

Strictly by prior appointment with sole selling agents Taylor Freeman Kataria.

Contact:

Priya Parmar MRICS

Pparmar@cliffords-estates.co.uk

Rajiv Kataria MRICS

Rajiv@cliffords-estates.co.uk