Thinking of buying or selling call 020 8599 9911

   

PROMINENT SHOP AND UPPERS FOR SALE FREEHOLD WITH PD FOR 2 X 1 BEDROOM FLATS

46 CHURCH STREET, ENFIELD, EN2 6AZ

2,058 sq.ft ( 191.19 m2  )

Key Features

•  PD scheme
•  Prominent location
•  5.48% gross yield with opportunity to increase

Location

The premises is located on Church Street (A110) at the southern end of the Palace garden Shopping Centre. The road boasts many High Street names to include Nationwide, Subway, Ladbrokes, Percy Ingle, Nandos and EE. Enfield Town Railway Station is in close proximity to the property, approximately 5 minutes walk to the East.

Accommodation

The ground floor comprises a retail unit with kitchen, office and rear access. The upper parts are arranged over first and second floor levels as individual office suites with shared staff facilities. The latter benefits from Permitted Development (PD) further to a Planning Application REFERENCE: 17/04122/PRJ whereby it was determined that prior approval was not required. The scheme encompasses a change of use of first and second floors from offices (Class B1(a)) to residential (Class C3) forming 2 x 2-bed self contained flats. The development will include internal alterations and no external demolition is part of the proposal. The proposed unit sizes are 54 & 55 sq. m respectively. Approximate areas as existing are as follows on a Net Internal basis for the ground floor and for the offices, in accordance with IPMS 3B:
Shop885 sq.ft ( 82.22 m2  )
First Floor581 sq.ft ( 53.98 m2  )
Second Floor592 sq.ft ( 55.00 m2  )
Total2,058 sq.ft ( 191.19 m2  )

Lease Terms

The shop is let to a limited company with a personal guarantee by virtue of a new Full Repairing and Insuring lease for a term of 10 years commencing in April 2019 at a rental of £32,000.00 per annum exclusive. Rent reviews are on a 3 year upwards only pattern. There is a Tenant only break clause at the expiration of the 3rd year of the term. The lease is within the Security of Tenure provisions of the Landlord and Tenant Act 1954.

We are advised that the offices are occupied by way of short-term, flexible license agreements on all inclusive rents, producing £22,724 per annum. We are further advised that there is one office vacant which has an ERV of £5,400.00 p.a.

The total yearly rent reserved is therefore £54,724.00.

Price

Rates

Rateable ValueThe ground floor and upper parts are rated separately. Interested parties are advised to check the rates with the VOA and with Enfield Council on 020 8379 1000.

Energy Performance Asset Rating

A+
A
B
C
54
This is how energy efficient
this building is
D
E
F
G

VAT

Value Added Tax is applicable in respect of this transaction.

Service Charge

A service charge is applicable in respect of this property. Further details available on request.

Legal Costs

Each party to bear their own legal costs.

Viewing

Strictly by prior appointment with letting agents Taylor Freeman Kataria.

Contact:

Ravi Kataria

Ravi@cliffords-estates.co.uk

Rajiv Kataria

Rajiv@cliffords-estates.co.uk

GET IN TOUCH

TFK 306, Green Lane, Ilford IG1
020 8599 9911

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