Location
The property is located prominently on the corner of Johnston Road and High Road, Woodford Green (A104). This particular section of the High Road consists of a variety of shops, restaurants, offices and flats. Woodford Underground Station is on the Central Line and provides a regular service into Central London.
Access to the motorway network is via Junction 26 of the M25 at Waltham Abbey or via the North Circular Road (A406) at The Waterworks roundabout and local buses serve this location.
Description
The site comprises 2 ground floor shops which have traded as estate agencies for many years.
Above the shops is a first floor office which is sold off but our client has retained ownership of the loft space above.
Tenancies
380-382 High Road: Let to Abode (Woodford) Ltd on a 10 year FRI lease from May 2019.
The current rent is £24,000 per annum.
384 High Road: Let to Arun Estate Agencies Ltd on a 10 year FRI lease from March 2023, subject to a 5 year tenant's break clause and rent review.
The current rent is £38,500 per annum. The 1st floor and part of the ground floor are sold off on a 125 year lease from 2009. F
Planning
Planning consent has been granted (Ref no 0513/22) to convert the loft space into 3 self-contained apartments (one x 1-bedroom & two x 2-bedroom) with balconies/terraces, associated amenity space, landscaping, together with cycle and refuse storage.
Terms
The freehold is available, subject to the existing tenancies and with the benefit of the planning consent, for £1,650,000.
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