Investment retail property for sale in Greenford

This property is marketed by:
Michael Rogers

Description

Greenford is located within the London Borough of Ealing approximately 10 miles to the west of Central London and some three miles west of Ealing town centre. Greenford has good transport links being 0.5 miles south of the A40 which connects directly to the M40 motorway and then further onto the M25.

The building is prominently located on the Greenford Road close to the A40 intersection.

The mid-terraced property is arranged over ground and two upper floors.  The property has recently been extended and refurbished to a very high standard. The ground floor has the benefit of an E class commercial use and the upper floors consist of a three-bedroom flat. The ground floor is currently being used as a launderette and benefits from LED lights, concrete floor, two kitchenettes, comfort cooling and heating and a ventilation system. There is also an external yard with shared access.

The first floor consists of a large lounge and open plan kitchen. There is also a bathroom and a bedroom. The second floor consists of two further bedrooms and a bathroom. There is potential to expand the first floor subject to planning. The specification is high including a fully fitted kitchen, LED lights, timber floors etc.

 The building has the following approximate floor area:

Floor Sq.ft Sq.m

Ground 1,004 93.5

1st Floor 560 51.9

2nd Floor 473 43.9

Total 2,037 189.3

Leases

The ground floor is being used as launderette. The owner of the property will agree to take a new effective full repairing and insuring lease for a term of years with five yearly upward only rent reviews at £21,600 per annum exclusive.

The owner of the property will accept a new one-year license on the flat at £21,600 per annum exclusive.

Therefore, a total rent of £43,200 per annum exclusive can be achieved. 

 Alternatively, the building can be sold with vacant possession.

Business Rates

The retail unit has a rateable value of £7,400. The occupier can apply for a small business rate relief which should result in low or zero rates payable, but they are advised to make their own enquiries. At present due to COVID 19 there are no rates payable. 

The flat has a Council Tax Band of B.

EPC

The building has an energy performance certificate of C-72.

Proposal / Price

Offers are sought in the region of £795,000 plus VAT subject to the leases. A deal with vacant possession may be available.