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Freehold Investment Ground Floor Restaurant With Vacant Upper Parts (HMO)
The property is situated in a prominent position on the North West side of Station Road close to the junctions of Connaught Avenue, Forest Approach and Rangers Road. The property is situated in a local suburb amongst many multiple & local retailers as well as restaurants and bars. Immediately opposite the building is Chingford Station and Bus Garage therefore the area is well served by public transport.
Ground Floor: Comprises a ground floor fully fitted restaurant together with a covered area at the front providing further seating area. The ground floor is currently let as an Indian restaurant. There is also a rear yard for up to 10 cars accessed via Forest Approach.
1st & 2nd Floors: The first & second floors are presently split up into 10 self-contained rooms with their own bathrooms and is currently used as a hotel. HMO (House in Multiple Occupation) licence has been granted recently.
AREAS (ALL DIMENSION ARE APPROXIMATE)
Ground Floor: 1,430 Sq. Ft (133 Sq. M)
First & Second Floors: 1,960 Sq. Ft (182 Sq. M)
Total: 3,390 Sq. Ft (316 Sq. M)
Ground Floor Restaurant: 1,430 Sq. Ft.
The premises are let to Citorp Ltd T/A The Voujon on a Full Repairing & Insuring Lease for a term of 25 years from 1st January 2015 Subject to 4 yearly rent reviews at a rental of £35,000 pax.
First & Second Floors:
Split into 10 self-contained rooms, currently used as a hotel.
Estimated Rental Income on HMO: £200 pw / £104,000 pax
£139,000 per annum exclusive (Estimated)
£1,600,000 Subject to Contract with benefits of the existing Tenancy & Income
Under the Money Laundering Regulations Act 2004, we are obliged to verify the identity of proposed tenants prior to instructing solicitors in order to assist in preventing fraud and money laundering. This information is required by Law.
COMMERCIAL LEASE CODE
Christo & Co have advised their clients about The Code for Leasing Business Premises in England and Wales 2007. The code strongly recommends seeking professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement. The code is available via the website www.leasingbusinesspremises.co.uk
Strictly by appointment through owners’ Sole Agents as above
SUBJECT TO CONTRACT
NOTICE RELATING TO THE PROPERTY MISDESCRIPTIONS ACT
Christo & Co as Agents and for the Vendors/Lessors of this property give notice that: 1) These particulars have been checked and are understood to be materially correct at the date of publication. The content however, is given without responsibility and should not, in any circumstances, be relied upon as representations of fact. Intending Purchasers/Lessees should satisfy themselves as to their correctness and as to the availability to the property prior to arranging viewings of the property. 2) These particulars are a guide only and do not form part of an offer or contract. 3) Christo & Co, their employees, nor the Vendors/Lessors make or give any representation or warranty in relation to the property. 4) No representation or warranty is given in respect of any part, equipment or services at the property. 5) Unless otherwise stated, prices, rents or other prices quoted are exclusive of VAT. Intending Purchasers/Lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction relating to this property. 6) Date of Publication: January 2018.
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