Development opportunity for sale in Buckhurst Hill

This property is marketed by:
Clarke Hillyer

Key Features

• Freehold investment/development opportunity
• Comprising lock-up shop with a 2-bedroom flat above
• Includes large rear garden
• Includes rear car park

Details

** RECENTLY REDUCED - FREEHOLD INVESTMENT/DEVELOPMENT OPPORTUNITY FOR SALE ** - Situated on Queens Road, which is the main commercial and shopping area of Buckhurst Hill. Queens Road comprises numerous boutiques, cafes and restaurants, as well as a variety of independent and multiple occupiers such as Costa Coffee and Ladbrokes. Comprising a ground floor lock-up shop which has traded as an opticians for many years. Above the shop is a self-contained 2-bedroom flat which is currently vacant. To the rear of the premises is a garden and car park which can be accessed via Back Lane. The premises may be suitable for redevelopment (subject to gaining the necessary consents).

Location

Situated on Queens Road, which is the main commercial and shopping area of Buckhurst Hill. Queens Road comprises numerous boutiques, cafes and restaurants, as well as a variety of independent and multiple occupiers such as Costa Coffee and Ladbrokes. Car parking facilities (pay and display) are available on the street and in the station car park. Buckhurst Hill Underground Station is on the Central Line and provides a regular service into Central London and out to Epping. Access to the motorway network is via the M11 at Loughton or the M25 at Waltham Abbey.

Description

Comprising a ground floor lock-up shop which has traded as an opticians for many years. Above the shop is a self-contained 2-bedroom flat. To the rear of the premises is a garden and car park which can be accessed via Back Lane. The premises may be suitable for redevelopment (subject to gaining the necessary consents) and are more particularly described as follows:

Shop: Sales area: 279 sq ft (25.9 sq m); Consulting room: 217 sq ft (20.2 sq m); Storage: 157 sq ft (14.6 sq m); w/c.

Flat: Living room; Kitchen/diner; 2 bedrooms; Bathroom; w/c.

Rear garden.

Rear car park.

All measurements quoted are approximate only.

Leases

The shop is currently let on a 20 year lease from 2019 at a rent of £18,000 per annum. The lease contains no break clauses and benefits from 4 yearly rent reviews.

The flat has historically been let on an Assured Shorthold Tenancy Agreement but is currently vacant.

Terms

The freehold interest is available, subject to the existing lease on the shop and with vacant possession of the flat, for £665,000.

Business Rates

Epping Forest District Council have informed us of the following:

2017 Rateable Value: £17,250

2023/24 UBR: 0.499 P/£

2023/24 Rates Payable: £8,607.75

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

Council Tax

The flats falls within Council Tax Band C.

EPC

The shop and flat both have an Energy Performance Certificate rating of E.