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
    18/Oct/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
Important Property Update
  • 127 High Road<br>Ilford<br>Greater London<br>IG1 1DE
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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.

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.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/
(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)
£50,00008/03/2023
(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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    05.10.18
    File Size
    23 MB
    Login to View
  • Catalogue Page
    Updated Date
    26.09.18
    File Size
    803 KB
    View PDF
  • Site Plan
    Updated Date
    26.09.18
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44(0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Coley & Tilley Solicitors Neville House, 14 Waterloo Street
Birmingham
B2 5UF
Neil Holden 01216 435 531nh@coleyandtilley.co.uk

Useful Links

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