Lot 48
    Commercial Property
    307-309 High Road
    Ilford, Essex, IG1 1NR
    Unsold, please refer to Auctioneer.
     
    Number 1
    A Commercial Investment and Residential Redevelopment Opportunity Comprising a Double Ground Floor Restaurant (A3) with Ancillary/Store Accommodation Above. Potential to Redevelop the Upper Parts into Residential Accommodation (subject to obtaining all relevant consents).

    Tenure

    Freehold

    Location

    The property occupies a prominent position on a main shopping parade servicing Ilford town centre. Nearby multiples include Lidl, Fitness First and Farm Foods. Transport links are provided by Ilford rail station.

    VAT

    VAT is not applicable

    Description (2nd Column)

    The property comprises two adjoining shops trading as a restaurant (A3 use) with first floor ancillary accommodation within a mid terrace building arranged over ground and first floors. There is potential to extend and redevelop the upper parts (subject to obtaining all relevant consents). A scheme of 4 x 2 bedroom flats has been suggested by the vendor. The upper parts have a separate rear access.

    Viewing Details

    The Property is available to be viewed between 15:00 and 18:30 Wednesday to Monday.

    Please refer to us directly on 0207 625 9007 and we will arrange access.

    Accommodation & Tenancy Schedule

    Property Floor Accommodation Tenancy Details Current Annual Rent
    Restaurant Ground Gross Frontage: 28 ft 0 ins (8.53 m)
    Shop Depth: 61 ft 9 ins (18.82 m)
    Shop Width (ave): 24 ft 6 ins (7.46 m)
    Dining Area (approximately 100 covers) - 1,421 sq ft (132.15 m2)
    Fitted Bar
    Customer WC’s
    Kitchen incorporating storage, food preparation area and walk in chiller - 458 sq ft (42.59 m2)
    Let on an FRI lease to Mr Rajesh Chouhan t/a Pakwaan Punjabi Cuisine Ltd* for a term of 15 years from 2011 at a rent of £25,000 per annum. 5 yearly upward only rent reviews. £25,000
    Anillary/Store First Five Rooms
    Two Store Rooms
    Bathroom
    Separate WC
    Vacant
    For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on
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    Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

    Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

    Guides are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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