Freehold £725,000 , Leasehold Long Leasehold
Description
We are delighted to offer For Sale this long leasehold investment currently with 63 years left to run at peppercorn ground rent. The leaseholder can extend the lease by a further 26 years if they wish to create an 89 year long leasehold interest.
The property has been let and income producing to Stapletons who have been trading there for approximately 20 years with a current annual rental income of £37,692 p.a.x., with a rent review due in April 2024 and lease to expire April 2029. The site is around 10,000 sqft (not measured).
Service charge: approximately £1,632.40 p.a.
Insurance Charge: £2,234.42 p.a.
The property is offered For Sale on assignment of the existing lease.
Location
The property is situated in Forest Business Park, off of Argall Avenue, Leyton. Argall Avenue is accessed via Argall Way which in turn joins up to Lea Bridge train station and Lea Bridge Road (A104). Directly off of Lea Bridge Road, Orient Way provides access indirectly to the A12 New Road for which you get in and out of the City and West End, and to the North Circular and M25.
Price / Rent
£725,000 Long Leasehold
Rates Payable
£22,418 p.a. payable.
EPC Rating
TBC
Viewing
Strictly by appointment
Short Description
For Sale this long leasehold investment currently with 63 years left to run at peppercorn ground rent. The leaseholder can extend the lease by a further 26 years if they wish to create an 89 year long leasehold interest.
The property has been let and income producing to Stapletons who have been trading there for approximately 20 years with a current annual rental income of £37,692 p.a.x., with a rent review due in April 2024 and lease to expire April 2029. The site is around 10,000 sqft (not measured).
Service charge: approximately £1,632.40 p.a.
Insurance Charge: £2,234.42 p.a.
The property is offered For Sale on assignment of the existing lease.
Service Charge
Approximately £1,632.40 p.a.
Insurance charge: £2,234.42