Property for sale
Property description & features
- Freehold investment for sale
- Comprising restaurant, staff area & external seating
- Current income £20,000 per annum
- Site area approx 2,250 sq ft
- Possible redevelopment potential (STPP)
Location - The property is located on the northern side of Lea Bridge Road (A104) in Walthamstow, which connects Leyton High Road to Woodford New Road. Woodford New Road leads to Waterworks Corner roundabout, from which the North Circular Road (A406) can be accessed. The closest train station is Wood Street (Overground) and the area is served by local buses.
Description - The property is situated at the end of a parade of shops with flats above and benefits from a prominent frontage onto Lea Bridge Road. The premises comprise a ground floor restaurant with a staff, store and shower room on the first floor. There is also an external seating area and the whole site has an approximate area of 2,250 sq ft (209 sq m), which may be suitable for reconfiguration/redevelopment, subject to gaining vacant possession and the necessary consents. The accommodation is more particularly described as follows:
Internal seating area: 391 sq ft (36.3 sq m).
Servery: 87 sq ft (8.1 sq m).
Rear seating: 181 sq ft (16.8 sq m).
Kitchen: 109 sq ft (10.2 sq m).
Store: 57 sq ft (5.3 sq m).
1st floor staff area: 252 sq ft (23.4 sq m)
External seating area: 1,189 sq ft (110.5 sq m)
All measurement quoted are approximate only.
Lease - The premises are held on an 8 year lease from June 2021. The current rent passing is £20,000 per annum and there is a rent review due in June 2025. The lease is included within the Landlord & Tenant Act 1954.
Terms - The freehold is available, subject to the existing lease, for £525,000.
Business Rates - Waltham Forest Council have advised us of the following:
2023 Rateable Value: £13,750
UBR 23/24: £0.499p
Rates Payable: £6,861.25
Viewings - Strictly via sole agents, Clarke Hillyer on[use Contact Agent Button].
Epc - The premises have an Energy Performance Certificate rating of C.
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Broadband availability and predicted speed
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Mobile phone signal availability and predicted strength
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
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Energy Performance data and Internal floor area
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