127 High Road Ilford Greater London IG1 1DE

127 High Road
Ilford
Greater London
IG1 1DE

Freehold Retail Investment

Let to Saint Francis Hospice until 2028 (subject to option)
2019 tenant break NOT exercised
East London Crossrail suburb
Prime pedestrianised location
Neighbouring occupiers include Primark, Boots the Chemist, Marks & Spencer, Starbucks, The Body Shop, Halifax and Barclays Bank

Lot
8
Auction
18th October 2018
Rent
£50,000 per Annum Exclusive
Status
Sold
Price
£965,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Wesleyan

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Freehold Retail Investment

Let to Saint Francis Hospice until 2028 (subject to option)
2019 tenant break NOT exercised
East London Crossrail suburb
Prime pedestrianised location
Neighbouring occupiers include Primark, Boots the Chemist, Marks & Spencer, Starbucks, The Body Shop, Halifax and Barclays Bank

Lot 8
Auction 18th October 2018
Rent £50,000 per Annum Exclusive
Status Sold
Price £965,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Wesleyan

Property Information

Location

Miles: 10 miles east of Central London; 3 miles east of Stratford and the Olympic Park; 5 miles west of Romford,
Roads: A406, A12, M11, M25,
Rail: Ilford Railway (Crossrail) Station; Gants Hills Underground (Central Line)
Air: London City Airport (4 Miles), London Southend,; London Stansted, London Heathrow

Situation

Ilford is a thriving East London suburb, which is benefitting from being on the new Crossrail (Queen Elizabeth) line with a journey time to Bond Street station of 20 minutes. The town is currently experiencing significant investment with major residential developments underway. Ilford also benefits from its close proximity to Stratford and the Olympic Park and London Docklands 3 miles to the south. The property is situated in a prominent location on the north side of the pedestrianised High Road, adjacent to Primark. Additional neighbouring occupiers include Boots the Chemist, Marks & Spencer, Iceland, The Body Shop, Halifax and Starbucks.

Tenure

Freehold.

Location

Miles: 10 miles east of Central London; 3 miles east of Stratford and the Olympic Park; 5 miles west of Romford,
Roads: A406, A12, M11, M25,
Rail: Ilford Railway (Crossrail) Station; Gants Hills Underground (Central Line)
Air: London City Airport (4 Miles), London Southend,; London Stansted, London Heathrow

Situation

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation with ancillary accommodation on the first and second floors and in the basement. The basement is accessed via a hatch. The first and second floors may be suitable for residential redevelopment (subject to consents).

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Ground First Second Basement	Retail Ancillary Ancillary Ancillary	132.6 sq m 49.9 sq m 37.2 sq m 40.23 sq m	(1,427 sq ft) (537 sq ft) (401 sq ft) (433 sq t)	SAINT FRANCIS HOSPICE (1)	15 years from 08/03/2013 on a full repairing and insuring lease (2)	£50,000	08/03/2023 (07/03/2028)
Total		259.93 sq m	(2,798 sq ft)			£50,000

(1) For the year ending 31st March 2017, Saint Francis Hospice reported pre-tax profits of £790,000 and a total net worth of £12,424,000 (Source: Experian Group 14/9/2018).
(2) The lease provides for a tenant option to determine on 08/03/2019 requiring 6 months’ notice (i.e by 7th September 2018). A notice was not served and as such the tenant option has not been exercised. The lease provides for a tenant option to determine on 8/03/2024 subject to 6 months’ notice.