Property for sale in Ilford IG1, 0 Bedroom

Freehold investment opportunity with future development potential (subject to planning permission).

Description
The property comprises a middle terrace 2 storey commercial building. The ground floor measuring c2000 sqft is used as a restaurant within the Use Class A3 (Retail) and the 1st floor for staff accommodation.

Location
The property occupies a prominent position on the High Road (A118) in Ilford, within the London Borough of Redbridge. The immediate area comprises a mix of commercial and residential uses, and is currently undergoing extensive regeneration.

Ilford town centre is located approximately 0.25 miles (circa 5 minute walk) to the west of the site, offering numerous shops and restaurants as well as Ilford Exchange Shopping Centre.

Ilford Station is located circa 0.5 miles to the west and Seven Kings Station is located circa 0.8 miles to the east. Both now operate Crossrail / Elizabeth Line services with journey times including:

Ilford to Canary Wharf: 17 minutes
Ilford to Bond Street: 24 minutes
Ilford to London Liverpool Street: 18 minutes

Tenancies
The entire property is let on a 10 year Fri lease from December 2016 with a break clause in March 2021.

The initial rent is £59,000 per annum subject to rent review in March 2021.

Tenure
The property will be sold freehold with the existing tenant remaining in-situ.

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Location

The property occupies a prominent position on the High Road (A118) in Ilford, within the London Borough of Redbridge. The immediate area comprises a mix of commercial and residential uses, and is currently undergoing extensive regeneration.

- Ilford town centre is located approximately 0.25 miles (circa 5 minute walk) to the west of the site, offering numerous shops and restaurants as well as Ilford Exchange Shopping Centre.

- Ilford Station is located circa 0.5 miles to the west and Seven Kings Station is located circa 0.8 miles to the east. Both now operate Crossrail / Elizabeth Line services with journey times including:

Ilford to Canary Wharf: 17 minutes
Ilford to Bond Street: 24 minutes
Ilford to London Liverpool Street: 18 minutes

Tenancies

The entire property is let on a 10 year Fri lease from December 2016 with a break clause in March 2021.

The initial rent is £59,000 per annum subject to rent review in March 2021.

Tenure

The property will be sold freehold with the existing tenant remaining in-situ.

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