Description

The property is arranged on ground and two upper floors to provide a ground floor supermarket with storage and ancillary accommodation on the first floor. There are two self-contained flats on the second floor.
The upper floors benefits from planning permission (Ref: 19/01374/FUL) for the proposed alteration and construction of first, second and third floor extensions at front and rear elevations to create 3 x two bedroom, 1 x three bedroom and 1 x one bedroom flats including cycle storage and amenity space.
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Accomodation

The following table shows lease terms:

UNIT PRESENT LESSEE LEASE TERMS CURRENT RENT £PA NEXT RENT REVIEW/ REVERSION
128-130 Iceland food stores (sublet to current tenants) 25 years and 3 months from 01/04/2002. Rent increases annually on 1st July by 3% per annum FR & I £158,793 Annual rent increase 01/07/22
128A and 128B High Street North Abslett Properties Ltd 12 months from 01/04/2018 £19,800 Reversion 2022
TOTAL £178,593

Key Features

  • Includes 2 separately let flats with planning permission for the construction of 5 flats above
  • Located 250 metres from East Ham Underground Station
  • Shop accommodation extends to approx. 6991 sqft
  • Shop let to Iceland Foods Ltd with 3% p.a. rental increases until 2027 (sublet to current tenants)
  • VAT is applicable
  • Well located freehold shop and residential investment

Location

East Ham forms part of the London Borough of Newham and is located 7 miles east of the City of London, midway between West Ham and Barking. Road connections are good with the A13 lying to the south and the A406 (North Circular Road) running parallel to the east. East Ham Underground and East Ham Station (District and Hammersmith & City Lines) are both within 250 metres of the property.
The property is situated on the east side of High Street North, between its junctions with Clements Road and Caulfield Road. Occupiers close by include Holland & Barrett, KFC, The Works, HSBC, Wilko, JD

Business Rates

Interested parties are advised to confirm the rating liability with the Local Authority.

Tenure

Freehold £2,900,000