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691a High Road, Ilford, Essex IG3 8RH

FREEHOLD COMMERCIAL INVESTMENT WITH DEVELOPMENT POTENTIAL

The property is a curved corner building with a flat roof, that is currently let to Marios Pizza. The building appears to be in good order. In our opinion there is development potential above, subject to obtaining any necessary planning consent that may be required. We understand that the passing rent is £7,500 and this commenced on 23/03/11 for a 20 year period. We also understand that a rent review is now overdue and any intending purchaser will benefit from any review that they apply. The property forms part of a popular trading area that includes well known and local traders. There are a number of residential roads off High Road that provides pedestrian local trade as well as main trade. The likes of McDonalds and Paddy Power are all nearby. The High Road is well served by car parks, restaurants, pubs and travel connections. This property will be of interest to developers and investment purchasers.

ACCOMMODATION

Ground Floor, Storage and WC 572 sf

TENURE

Freehold

LOCAL AUTHORITY & TAX RATING

London Borough of Redbridge 020 8554 5000 Rateable Value £11,500

VIEWING TIMES

There will be no open viewing sessions although interested parties can look at the property during normal opening hours subject to tenants consent.

Price Information

*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Additional Fees

Please note that the following additional fees will apply to the purchase of your property:

1. Buyers Premium of £600 inclusive of VAT
2. Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to you prior to auction. You will be expected to sign this document as well as the Sales Memorandum at the time of purchase.
3. Stamp Duty - rates easily available on-line
4. Your solicitor fees and any survey fees
5. Insurance - it is your responsibility from the date of exchange to insure the property purchased.