This property is no longer on the market
Residential development
Property description & features
- Freehold investment & development opportunity
- Comprising 3 shops, 3 offices, 2 flats & rear parking
- Planning consent has been granted to demolish the rear & build 8 x1 bedroom flats
- Current income £116,150 per annum
Location - Situated on Queens Road, which is the main commercial and shopping area of Buckhurst Hill. Queens Road comprises numerous boutiques, cafes and restaurants, as well as a variety of independent and multiple occupiers such as Costa Coffee and Ladbrokes. Car parking facilities (pay and display) are available on the street and in the station car park. Buckhurst Hill Underground Station is on the Central Line and provides a regular service into Central London and out to Epping. Access to the motorway network is via the M11 at Loughton or the M25 at Waltham Abbey.
Description - Comprising 3 shops, with 1 office and 2 flats above. At the rear of the property is 2 further offices plus ancillary space. The site also benefits from 10 parking spaces. The accommodation is more particularly described as follows:
75 Queens Road: Comprising a ground floor restaurant of 625 sq ft (58.1 sq m).
75a Queens Road: Comprising a ground floor restaurant (not inspected).
75b Queens Road: Comprising a 1st floor 2-bedroom flat.
75c Queens Road: Comprising a 1st floor 2-bedroom flat.
77 Queens Road: Comprising a ground floor retail unit of 536 sq ft (49.8 sq m).
77a Queens Road (office): Comprising a 1st floor office of 435 sq ft (40.4 sq m).
R/o 75 Queens Road, Rear office: 576 sq ft (53.5 sq m).
R/o 75 Queens Road, Front office: 640 sq ft (59.5 sq m).
Total site area: 9,268 sq ft (861 sq m).
All measurements quoted are approximate only.
Tenancies - 75 Queens Road: let for £22,500 per annum on a 20 year lease from 2018, subject to 5 yearly rent reviews.
75a Queens Road: let for £15,000 per annum on a 15 year lease from 2023, subject to 5 year rent reviews.
75b Queens Road: let on an AST for £1,400 per month.
75c Queens Road: let on an AST for £1,150 per month.
77 Queens Road: let for £14,950 per annum on a 3 year lease from January 2022.
77a Queens Road (office): let for £12,000 per annum on a 10 year lease from December 2017.
R/o 75 Queens Road, Rear office: let for £11,500 per annum on flexible terms.
R/o 75 Queens Road, Front office: let for £9,600 per annum on flexible terms.
Planning - Planning has been granted (Appeal Ref: APP/J1535/W/22/3298387) to demolish the structures to the rear of 75-77 Queens Road and erect 8 1 x bedroom flats. Further details available upon request.
Terms - The freehold is available, subject to the existing tenancies, for offers in excess of £2,750,000.
Council Tax - 75b Queens Road & 75c Queens Road are within Band B.
Business Rates - 75 Queens Road: 2023 rateable value: £21,500.
75a Queens Road: 2023 rateable value: £16,000.
77 Queens Road: 2023 rateable value: £24,500.
77a Queens Road: 2023 rateable value: £11,000.
R/o 75 Queens Road, Unit 1: 2023 rateable value: £12,250.
R/o 75 Queens Road, Unit 2: 2023 rateable value: £13,750.
R/o: 75a Queens Road: 2023 rateable value: £2,500.
R/o 77 Queens Road: 2023 rateable value: £930.
Viewings - Strictly via sole agents Clarke Hillyer, tel[use Contact Agent Button].
Epcs - The premises have the following Energy Performance Certificate ratings:
75 Queens Road: B; 75b Queens Road: E; 75c Queens Road: E; R/o 75 Queens Road: C; 77 Queens Road: B; 77a Queens Road: D.
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