Takeway restaurant/retail & residential investment
Location
124 holds a strong location towards the Northern end of the High Street adjacent to Isobel Hospice and within proximity to the likes of Poundstretcher, Peacocks, Costa Coffee, Wetherspoons and Specsavers. There are also major supermarkets within the town centre being Morrisons, Sainsbury, Asda, Tesco and Aldi, all of which have substantial car parks for the short term benefit of town centre users.
Hoddesdon is a strong market town approximately 6 miles to the north of junction 25 of the M25. The A414 skirts the town to the north providing eastward M11 connections at Harlow and westward A1/A1M connections at Hatfield and beyond.
Main line rail is accessed from Broxbourne into London Liverpool Street via Tottenham Hale with its Victoria Line underground connections. There are branch line connections from Rye House. London Stansted International Airport is accessed from the M11 junction at Bishops Stortford.
Accommodation
DESCRIPTION: A ground floor take-away restaurant and retail premises to a maximum built depth of 83’ 4” and to total 1,648 sq ft as part of a strong retail terrace overlooking the town square and war memorial.
At first and second floor above there are 2 x one bed and 1 x two bed flats, 2 of which require improvement to facilitate rental uplift.
TENANCIES: The ground floor commercial parts are let on an effective FRI lease to expire 15/07/36 without further break at the current rent of £35,000 pax rising to a minimum of £46,779 pax at the 16/07/26 review. A £21,000 rent security deposit is held. This is a protected lease.
Flat 1 - A one bedroom flat in good condition let for a term to expire 11/12/26 at the current rent of £11,700 per annum.
Flat 2 - A two bedroom flat requiring upgrade let on a rolling term at the current rent of £9,600 per annum. Suggested ERV after refurbishment - £15,000 per annum.
Flat 3 - A one bedroom flat requiring refurbishment let on a rolling term at the current rent of £7,800 per annum. Suggested ERV post refurbishment - £12,000 per annum.
Shop - £35,000 pax with uplift to £46,779 pax
Flat 1 - £11,700 pa - (ERV £12,000 pa)
Flat 2 - £9,600 pa (ERV £15,000 pa - post refurb)
Flat 3 - £7,800 pa (ERV £12,000 pa - post refurb)
Total - £64,100 pax with potential uplifts to £85,779 pax
Terms
For sale freehold