Property description

We are proud to present this spacious A1 Use Retail Shop measuring over 800 square feet (approximate). This is a popular and established stationary shop situated on the South Woodford High Street called George Lane offering a vast amount of footfall both night and day with numerous other businesses, restaurants, bars, cinema, gym, developments, parks and travel facilities all available within minutes. The nearest underground station is South Woodford and Snaresbrook Station (Central line) 1 minute away. The area has a strong reputation for food and dining experiences which has been built over many years with more and more families and people moving into the area as a result of the open green space and the quick commute to Central London.

The premise consists of fixtures and fittings, the benefit of CCTV, alarm system, heating, WC, office, small staff and kitchen area, and separate large storage room in the back with small outdoor space. The premises benefit's with having a separate storage room to the back of the shop with 40 sq. ft.

This is a lease assignment with over 6 years remaining on an Open / Renewable Lease. The current rent for this property is £14,000 per annum and the seller is seeking £95,000 for the goodwill, stock, fixtures and fittings, and commercial benefits of acquiring the premises in location with good footfall.

Accommodation

Shop Floor including WC Rooms: (12.31 x 35.81) = 440.82 sq. ft.

Office, Staff Room, Kitchen & WC: (13.22 x 10.99) = 145.28 sq. ft.

Outdoor Space: (13.22 x 3.04) = 40.18 sq. ft.

Separate Storage: (13.22 x 14.55) = 192.35

TOTAL - 818.63 sq. ft. (approx.)

Tenure

Open / Renewable Lease for £14,000 rent per annum.

Our Client wishes to assign the lease with over 6 years remaining.

Rent Review in 2 years.

Premium

Our client seeks a premium of £95,000 for goodwill, fixtures and fittings, and location.

Legal fees

Incoming tenant to be responsible for their own, outgoing tenant's and landlord's legal fees.

Rates

We have been advised that the rates payable is £6,000 per year approximately. However, interested parties are encouraged to make their own enquiries with the local authority. Please note that there are various Business Rate Exemptions for small and new businesses with the Local Authority.

Viewing Arrangement

Please note, this is a confidential sale of the lease. If you would like to arrange a viewing for this property, please call us on 020 7510 0860 or alternatively call our property consultant directly on 074 1586 3800.

Property Features :

• A1 Use
• Over 800 sq ft
• Good footfall
• South Woodford Underground Station 1 mins walk
• £30,000 Stock