Location On Map
FREEHOLD INVESTMENT FOR SALE
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 which is currently let as an Indian restaurant. There is also a rear yard for parking 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. HMO (House in Multiple Occupation) licence has been granted.
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 with their own bathrooms.
Approximate Rental Income on HMO: £150 pw / £78,000 pax
TOTAL INCOME (Actual + Estimated)
£113,000 per annum exclusive
£1,550,000 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.
Strictly by appointment through owners’ Sole Agents as above
SUBJECT TO CONTRACT