No longer on the market
This property is no longer on the market
Floorplan
MapProperty
Sold STC
Property
682
EPC rating: B
Features and description
- Freehold investment comprising 2 ground floor lock-up shops
- Total income £30,000 per annum
- Possible development potential (STPP)
- Leases run until Sept 2029 & April 2031 (no breaks)
- RPI rent reviews throughout the leases
* FREEHOLD INVESTMENT FOR SALE * - Situated on Forest Road, Loughton, which is just off the High Road. The High Road is home to many local businesses as well as a number of multiple occupiers such as Marks and Spencer, Magnet Kitchens and Robert Dyas. Public parking is available on Forest Road, and there are also car parks in the vicinity. Comprising 2 adjacent ground floor lock-up shops, one of which is let to a beauty salon, the other to a health food shop. The premises may be suitable for redevelopment and/or reconfiguration in future, subject to gaining the necessary consents. The current total income is £30,000 per annum and there are RPI rental increases throughout the leases but no break clauses. Please call CLARKE HILLYER on[use Contact Agent Button] for further information.
Location - Situated on Forest Road, Loughton, which is just off the High Road. The High Road is home to many local businesses as well as a number of multiple occupiers such as Marks and Spencer, Magnet Kitchens and Robert Dyas. Public parking is available on Forest Road, and there are also car parks in the vicinity. Loughton Station (Central Line) provides services to London. Access to the motorway network is via Junction 26 of the M25 at Waltham Abbey or via Junction 5 of the M11 at Loughton (southbound only).
Description - Comprising 2 adjacent ground floor lock-up shops, one of which is let to a beauty salon, the other to a health food shop. The premises may be suitable for redevelopment and/or reconfiguration in future, subject to gaining the necessary consents. The premises are more particularly described as follows:
5 Forest Road: Sales area: 260 sq ft (24.2 sq m); Treatment Room: 49 sq ft (4.6 sq m); Kitchenette/store: 19 sq ft (1.8 sq m); W/c.
5a Forest Road: Sales area: 316 sq ft (29.4 sq m); Kitchenette: 38 sq ft (3.5 sq m); W/c.
All measurements quoted are approximate only.
Leases - 5 Forest Road:
- Let on a 7 year Lease ending 30 September 2029 (No Break).
- Fully repairing lease. Landlord insures the property and recovers the cost from the Lessee.
- Current rent £14,400 per annum (paid £1,200 calendar monthly in advance) with a Guarantor.
- 3 month’s Rent Deposit (adjusted on reviews) held by the Lessor in a current account.
- Rent Reviews: 30 September 2025 & 30 September 2028, based on RPIX indexation from 31 May 2022.
5A Forest Road
- Let on a 7 year Lease ending 30 April 2031 (No Break).
- Fully repairing lease. Landlord insures the property and recovers the cost from the Lessee.
- Current rent £15,600 per annum (paid £1,300 calendar monthly in advance) with a Guarantor.
- 3 month’s Rent Deposit (adjusted on reviews) held by the Lessor in a current account.
- Rent Reviews: 1 April 2027 & 1 April 2030, based on RPIX indexation from 31 December 2023.
Terms - The freehold is available, subject to the current leases, for £500,000.
Business Rates - Epping Forest District Council have informed us of the following:
5 Forest Road: 2023 Rateable Value: £15,000.
5a Forest Road: 2023 Rateable Value: £13,000.
Viewings - The premises are available on a strictly confidential basis and therefore all viewings must be arranged and accompanied via sole agents Clarke Hillyer, tel[use Contact Agent Button].
Epcs - 5 Forest Road has an Energy Performance Certificate rating of C & 5a Forest Road has an EPC rating of B.
Location - Situated on Forest Road, Loughton, which is just off the High Road. The High Road is home to many local businesses as well as a number of multiple occupiers such as Marks and Spencer, Magnet Kitchens and Robert Dyas. Public parking is available on Forest Road, and there are also car parks in the vicinity. Loughton Station (Central Line) provides services to London. Access to the motorway network is via Junction 26 of the M25 at Waltham Abbey or via Junction 5 of the M11 at Loughton (southbound only).
Description - Comprising 2 adjacent ground floor lock-up shops, one of which is let to a beauty salon, the other to a health food shop. The premises may be suitable for redevelopment and/or reconfiguration in future, subject to gaining the necessary consents. The premises are more particularly described as follows:
5 Forest Road: Sales area: 260 sq ft (24.2 sq m); Treatment Room: 49 sq ft (4.6 sq m); Kitchenette/store: 19 sq ft (1.8 sq m); W/c.
5a Forest Road: Sales area: 316 sq ft (29.4 sq m); Kitchenette: 38 sq ft (3.5 sq m); W/c.
All measurements quoted are approximate only.
Leases - 5 Forest Road:
- Let on a 7 year Lease ending 30 September 2029 (No Break).
- Fully repairing lease. Landlord insures the property and recovers the cost from the Lessee.
- Current rent £14,400 per annum (paid £1,200 calendar monthly in advance) with a Guarantor.
- 3 month’s Rent Deposit (adjusted on reviews) held by the Lessor in a current account.
- Rent Reviews: 30 September 2025 & 30 September 2028, based on RPIX indexation from 31 May 2022.
5A Forest Road
- Let on a 7 year Lease ending 30 April 2031 (No Break).
- Fully repairing lease. Landlord insures the property and recovers the cost from the Lessee.
- Current rent £15,600 per annum (paid £1,300 calendar monthly in advance) with a Guarantor.
- 3 month’s Rent Deposit (adjusted on reviews) held by the Lessor in a current account.
- Rent Reviews: 1 April 2027 & 1 April 2030, based on RPIX indexation from 31 December 2023.
Terms - The freehold is available, subject to the current leases, for £500,000.
Business Rates - Epping Forest District Council have informed us of the following:
5 Forest Road: 2023 Rateable Value: £15,000.
5a Forest Road: 2023 Rateable Value: £13,000.
Viewings - The premises are available on a strictly confidential basis and therefore all viewings must be arranged and accompanied via sole agents Clarke Hillyer, tel[use Contact Agent Button].
Epcs - 5 Forest Road has an Energy Performance Certificate rating of C & 5a Forest Road has an EPC rating of B.
Property information from this agent
About this agent
Clarke Hillyer is proud of its heritage. Established in 1885, Clarke Hillyer grew to be one of East London and West Essex foremost property companies. Core values of professionalism, customer service and integrity have enabled us to retain some of our clients through the generations for over 100 years.