Freehold building comprising a ground floor café with a self-contained large 1-bedroom flat above (with separate access). The commercial unit has been recently newly fitted out, with the tenant currently completing fit-out/launch preparations and expected to trade imminently.
Location
Hornchurch (RM11) is an established East London / Essex border suburb within the London Borough of Havering, supported by a strong surrounding residential catchment and commuter connectivity. The property is positioned on Butts Green Road, serving local day-to-day needs with a mix of nearby retail and service occupiers.
Nearest station: Emerson Park Station – approx. 112m / 2 minutes’ walk
Local bus routes provide additional connectivity to Hornchurch Town Centre and Romford.
Accommodation
Ground Floor: Café / Coffee Shop (income producing) - 63 sq. m / 678 sq. ft plus rear garden.
First Floor: Large 1-bed flat, self-contained, good decorative order - 65 sq. m / 700 sq. ft
Access: Flat benefits from a separate, independent entrance.
Terms
Tenure - Freehold.
Tenancies & Income:
Ground Floor (Café): £18,000 per annum - 15-year FRI lease from 1 August 2024
Tenant fitting out; expected to trade imminently
Upper Floor (1-bed Flat): £1,350 pcm (£16,200 per annum)
Self-contained; separate access - Total Passing Income: £34,200 per annum
Price - Guide Price: £495,000 s.t.c
Off market / confidential offering
(Gross initial yield approx. 6.9% at guide price, before purchaser’s costs.)
EPC - EPCs available (both attached).
VAT: The property is not elected for VAT
Legal Costs: Each party to pay for their own legal fees
Anti-Money Laundering: Due to recent changes in the Anti Money Laundering regulation, it is now standard procedure to undertake a Personal and Company and general AML checks, admin cost of £350 + VAT.
Holding Deposit: Tenants wishing to secure this property may be required to pay a holding deposit to Countrywide Commercial of £3000. This deposit is not refundable except if the vendor withdraws, clear title cannot be proven or the tenant’s references, AML, and Credit checks are not acceptable to the landlord. This deposit is held in our client’s account until completion.
Specification
- Attractive Freehold Investment –
- Retail + residential income streams
- Shop let Cafe, lease exp. Dec 2039 at £18,000 pax
- 1-bed flat – AST - £1350 pcm
- Total income - £34,200 pax
- Busy Local Parade – close to Hornchurch Central line.
- Cash Buyers Invited – vendor seeks swift sale
- £495,000, subject to contract