A mid terraced Edwardian 4-story fully let mixed-use investment prominently positioned on The Broadway in the heart of Woodford Green, adjacent to Woodford Station. The property comprises a ground floor shop with a basement together with three self-contained 2-bedroom flats arranged over the upper floors.
Location
Situated within the highly sought after location known as The Broadway, Woodford Green is a bustling area known for its vibrant community and excellent transport links. This prime location offers high visibility and foot traffic, ideal for retail or service-oriented businesses. The property benefits from nearby amenities such as shops, cafes, and public transportation options, making it convenient for both customers and employees. Woodford Green is known for its leafy suburbs and accessibility to central London, making it a desirable location for businesses seeking a mix of local charm and urban connectivity.
Close to Costa Coffee, Rosso Restaurant, opposite Sainsbury’s Local, The Broadway Turkish Restaurant and close to other multiple traders such as Cook, The Co-op and other well-known retailers.
Woodford Underground station is virtually opposite the property, with direct routes into London via the Central line tube.
Accommodation
Basement & Ground Floor - Coffee shop
1st Floor 2-bedroom flat
2nd Floor 2-bedroom flat
Terms
Tenancy:
Basement & Ground Floor Coffee shop - Let on a full repairing and insuring lease for a term of 20 years from 1st January 2022, expiring 31st December 2041. The lease provides for a rent review on 1st January 2027 and 5 yearly rent reviews thereafter. Rental Income £37,200 pax
1st Floor 2-bedroom flat Held freehold and let on an Assured Shorthold Tenancy. Rental Income £15,600 pa
2nd Floor 2-bedroom flat Held freehold and let on an Assured Shorthold Tenancy. Rental Income £21,000 pa
3rd Floor 2-bedroom flat Held on a 125-year lease from 25th December 2011
Gross Rental Income: £73,800 per annum
Tenure: Freehold subject to existing tenancies.
Guide Price: £1,300,000, subject to contract (6% GIY)
Rates: n.b. Interested parties should contact Redbridge Borough Council for verification
Legal Costs: Each party to pay for their own
Reference & Credit Checks: A charge of £350 + VAT may be payable for taking up references on behalf of proposed tenants, this fee is non-refundable after the references have been taken up, whether or not the Landlord accepts them.
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
- Fully Rented
- Attractive Investment
- Highly Visible Location
- Affluent Area
- Adj. Woodford Station