Shop and Three-Bedroom Flat to Let

17 & 17A Woodford Avenue, Gants Hill, Ilford, IG2 6UF

£5,000 pcm | £60,000 per annum

Premium: £25,000

Description 

An opportunity to lease ground-floor commercial premises with a three-bedroom flat above, located on Woodford Avenue in Gants Hill.

The premises are vacant and offered in their current condition, with the shop and flat available together under one lease. An opportunity for business owners looking to establish, relocate or expand their business, subject to the necessary permissions.

The landlord advises that planning approval for HMO use of the upstairs accommodation is in place. The incoming tenant would need to obtain their own HMO licence, subject to council approval. Planning documentation, permitted occupancy and residential subletting provisions remain subject to verification.

Location

The area has become one of East London's most established restaurant destinations, with a strong mix of national brands and independent operators, including German Doner Kebab, Meat & Shake, Sultan Restaurant, Istanbul Grill, Al Qasr Restaurant, Lahore Karahi, Wazir Restaurant, Tinseltown, Indian Aroma, Dosa & Dosa, Domino's Pizza, Burger King, Costa Coffee and Starbucks, creating a vibrant food and beverage destination.

Terms

Available by way of a new 15-year full repairing and insuring (FRI) lease. The shop and flat must be taken together.

Rent reviews will be upwards only, based on commercial market rents, with review dates to be confirmed.

A rent deposit of £15,000 and advance rent of £15,000 are required, each equivalent to three months' rent. The incoming tenant will be responsible for the landlord's legal costs associated with granting the lease.

The shop's authorised planning use is being confirmed. Prospective tenants should make enquiries with Redbridge Council regarding their intended business use and any necessary permissions.

Gambling businesses and alcohol-licensed premises are not permitted. 

Available immediately, subject to completion of the lease. All terms are subject to contract.

RENT

£60,000 per annum (£5,000 per month) for the commercial premises and flat together, exclusive of applicable outgoings.

A premium of £25,000 is payable for the grant of the new lease. The landlord advises that no VAT is payable on the rent or premium.

Tenant Administration Fee

A one-off fee of £900 inclusive of VAT (£750 + VAT) is payable by the incoming tenant to Easymove Estate Agents on completion of the lease. This covers referencing, preparation of heads of terms and lease progression.

This fee is additional to the rent, premium, deposit and agreed legal costs.