Retail premises for sale in Victoria Road, London RM1

Fixed price £1,375,000 (£399.71/sq. ft)
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Retail premises for sale 3,440 sq. ft*

Property description

Investment Consideration:
Rental Income: £64,500 p.a.
Erv: £84,900 p.a. Giy: 6.17%
VAT is not applicable to this property
Comprises 1 x Retail Shop and 3 x 2-Bed Flats, newly converted/extended in 2022
Located within 0.1 mile from Romford Train Station with occupiers close by including Lidl, Fitness First, Pizza Go Go and Dixy Chicken, amongst many more.

Property Description:
The property comprises newly converted/extended mixed-use block of retail shop and 3 self-contained residential dwellings, providing the following accommodation and dimensions:
Ground Floor:
Retail Shop - 59.00 sq m (624 sq ft)
Open plan retail, Storage, WC, 2 Parking Spaces
Flat 1 - 97.36 sq m (1,048 sq ft)
2 Bedrooms, Kitchen/Living Room, 2 Bathrooms, Garden
Ground/First Floor:
Flat 2 - 98.94 sq m (1,064 sq ft)
Ground Floor: Kitchen/Living Room, WC, Garden
First Floor: 2 Bedrooms, 2 Bathrooms
First Floor:
Flat 3 - 65.30 sq m (703 sq ft)
2 Bedrooms, Kitchen/Living Room, 2 Bathrooms, Garden
Total residential area: 261.60 sq m (2,815 sq ft)
Total retail area: 59.00 sq m (624 sq ft)

Tenancy:
The retail shop is at present let to an Individual for a term of 10 years from 25th May 2022 at a current rent of £21,000* per annum and the lease contains full repairing and insuring covenants. Upward only rent review in May 2027. Mutual option to determine in May 2027 with minimum 6 month`s notice. Deposit held of £5,250.
*Note - Tenant pays £18,000 p.a. For the shop and £3,000 p.a. For 2 parking spaces at front
Flat 2 is at present let on AST to an Individual for a term of 12 Months from 30th September 2022 at a current rent of £22,200 p.a. Deposit held of £2,134.62.
Flat 3 is at present let on AST to an Individual for a term of 12 Months from 31st October 2022 at a current rent of £21,300 p.a. Deposit held of £2,048. The rental amount includes 1 parking space at front.
Flat 1 is at present vacant. Erv: £20,400 p.a.

Location:
Romford is a large town in East London and the administrative centre of the London Borough of Havering. It is located 14.1 miles northeast of Charing Cross and is one of the major metropolitan centres identified in the London Plan. The property is located within 0.1 mile from Romford Train Station. Occupiers close by include Lidl, Fitness First, Pizza Go Go and Dixy Chicken, amongst many more.

Property info

Floorplan(s): Flat 1 Flat 2 Flat 3

Flat 1 View original

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Blue Alpine Partners, SW1P on +44 20 3641 9157 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blue Alpine Partners, and do not constitute property particulars. Please contact Blue Alpine Partners for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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