Property description

We are proud to present this highly visible A1 Usage Retail Business located on George Lane measuring over 600 sq. ft. (approx.). George Lane offers a vast amount of footfall and a steady stream of cars passing the property both during day and night. George Lane is home to a variety of banks, cafes, restaurants and multiple retailers such as Greggs, Boots and Marks and Spencer. Pay and display parking is available on the street and South Woodford Central Line Station is situated opposite the property. Access to the motorway network is via the M11 at the Waterworks Roundabout

This is a great opportunity to acquire this spacious A1 retail unit currently trading as a successful shoe shop. The property has generous storage space as well as a small separate back space. The property has potential to extend the shop floor space through the storage at the rear.

This is a lease assignment with a new lease being offered with the term open to negotiation. The rent for this property is £18,000. The seller is seeking a premium of £50,000

Accommodation

Shop Floor: (14.01 x 26.81) = 293.03 sq. ft.

Storage: (10.61 x 25.98) = 275.64 sq. ft.

Back Space: (9.62 x 9.02) = 86.77 sq. ft.

TOTAL – 655.44 sq. ft. (approx.) 

Tenure 

Open / Renewable Lease - £18,000

Our Client wishes to assign a new lease with the term to be negotiated

Premium 

Our client seeks a premium of £50,000. 

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 :

• 5 Minute Walk from South Woodford Station
• Located on Busy High Street
• High Footfall
• Prime Location
• Spacious - 655.44 sq.ft.