FOR SALE - PRIME PITCH MIXED-USE RETAIL + RESIDENTIAL DEVELOPMENT OPPORTUNITY

140, HIGH STREET, LONDON, E6 2HT

1,625 sq.ft ( 150.97 m² )

Key Features

•  Corner Position
•  Redevelopment Opportunity
•  Prime Pitch

Location

The property is conveniently located on High Street North at its junction with Clements Road, 0.1 miles South of East Ham Station. The situation of the building is at the busier end of the retail parade, in close proximity to many of the High Street's leading brand names including Holland and Barrett, HSBC, The Works, Paddy Power and Footlocker. The A406 North Circular Road sits just 1 mile to the East via Barking Road (A124)

Accommodation

Existing: The existing building comprises of a ground floor commercial area with a kiosk and money transfer business (A2 Use) with a small basement store room of 63 sq. m over both levels. The first and second floor host a 1 x 2-bed maisonette of 88sq. m. Proposed: It is considered both the increase of A2 Class area and new residential are compatible with the site location and in accordance with policy SP3.1 that promotes the creation and support of existing genuinely mixed areas. It is proposed to increase the amount of commercial space from 63sq. m to 77sq. m. The residential area will provide 4 x 1 bedroom 2 Person Flats.

Lease Terms

We are advised that the whole building has been let on a Full Repairing and Insuring Lease Inside the Landlord and Tenant Act 1954 at a rental of £40,000.00 per annum. We understand the initial term to have expired and the tenant to be holding over. The property will be sold with either the benefit of the aforementioned tenancy or with vacant possession.

Price

Rates

The rateable value for the existing retail unit is as follows

Rateable Value	£36,750
UBR 2019/2020	49.1p
Rates Payable	£18,044
	Interested parties are advised to verify these figures with The London Borough of Newham Council on 020 8430 3250.