Retail premises for sale in Balgores Lane, Gidea Park, Romford RM2

Key Points

Description

The property comprises of a corner positioned end of terrace property of traditional brick construction. The available accommodation includes the ground floor, rear / side external stores (approximately 275 sq ft) and yard. The upper floor flat has been sold off on a long leasehold basis.

The retail premises was used as a butchers shop for many years. The internal shop accommodation includes a front sales area and rear preparation area. The property includes a front shop window, tiled floor and walls, strip lights, 3-phase electricity, kitchenette, and cold store.

Externally the is a rear yard, external stores to the side and further rear store to the far rear end of the site.

Location

The property is located on the corner of Balgores Lane and Fairholme Avenue in the Gidea Park area of Havering. Balgores Lane leads to Main Road (A118) which provides access to Romford town centre and Gallows Corner roundabout.

Gidea Park is an neighbourhood close to Romford. The property is located within the main retailing centre close to Gidea Park station. Nearby occupiers include Kervan Kitchen, T.A. Newman & Sons Funeral Directors, newsagents and various coffee and food uses.

Gidea Park station is located 100m away and Romford town centre / train station is approximately 1.5 mile east (both offering access to the Elizabeth Line). The A12 and M25 are within good access for routes around greater London and Essex.

Availability_Text

The accommodation comprises the following areas:

Rateable Value

From information obtained from the Valuation Office Agency website the demises are rated as follows:-

Address: 168 Balgores Lane, Romford, RM2 6BS
Description: Shop and premises
Rateable Value: £20,000

We would advise prospective parties to verify the matter with the local rating office.

Planning

The ground floor commercial unit is understood to have A1 Retail consent. Under the changes to the Use Class Order effective from 1st September 2020, we understand that these premises now benefit from an E class planning consent. This allows the premises to be used for the former A1 (retail), A2 (financial and professional), A3 (restaurant), B1 (offices), and D1 (clinics, health centre and day nursery) uses, without the need for a change of use. Interested parties are advised to satisfy themselves with Havering Planning Department that their use is acceptable under these new changes.

In our view the property offers potential to extend or reconfigure, however we advise prospective purchasers to make their own enquiries and take professional advice.

Tenure

The property will be sold on a freehold basis. Freehold - Title number: EGL458288. The former butchers premises (shop, rear stores, and yard) will be offered with vacant possession. The upper floor flat is sold off on a 125 year lease (from 1st January 1996) with a ground rent of £56 per annum.

Price

£285,000. VAT is not payable on the purchase price.

Interested parties are requested to submit their Best Offer which should be received by Francois Neyerlin by email no later than 5pm on Tuesday 30th April 2024. Offers should be sent to .The vendor is not obliged to accept any offer submitted or the highest bid. Further information is available by request on the Best Offers format and procedure.

Identity Checks

In order to comply with Anti-Money Laundering Legislation, the successful purchaser will be required to provide certain identification documents. The required documents will be confirmed to and requested from the successful purchaser.