Offers in region of
£550,000
(£517.89/sq. ft)
Retail premises for saleHermit Road, Canning Town E16
1,062 sq. ft
About this property
Fully let and income producing
Next rent review 2022
Live + work accommodation
Location
The property is located on a local neighbourhood parade of shops on Hermit Road, close to it's junction with Star Lane, and off Barking Road (A124) on one end and Newham Way (A13) on the other. Canning Town Underground and Light Railway Station are situated within short walking distance from the premises. Regulated car parking is available outside of the building.
Accommodation
Corner commercial premises with independent access to first floor one bedroom flat.
Lease terms
The whole building is demised under one lease to an individual subject to a license to an assign for a term of 20 years inside the provisions of the Landlord and Tenant Act 1954 governing Security of Tenure commencing 2 October 2006 thus having an unexpired term of circa 5 years. The rent was subject to a fixed increase to £20,000.00 at the 4 anniversary of the term and thereafter on a 4 yearly upward only basis to market level. The 2022 review was agreed at £23,000.00pa.
The property is located on a local neighbourhood parade of shops on Hermit Road, close to it's junction with Star Lane, and off Barking Road (A124) on one end and Newham Way (A13) on the other. Canning Town Underground and Light Railway Station are situated within short walking distance from the premises. Regulated car parking is available outside of the building.
Accommodation
Corner commercial premises with independent access to first floor one bedroom flat.
Lease terms
The whole building is demised under one lease to an individual subject to a license to an assign for a term of 20 years inside the provisions of the Landlord and Tenant Act 1954 governing Security of Tenure commencing 2 October 2006 thus having an unexpired term of circa 5 years. The rent was subject to a fixed increase to £20,000.00 at the 4 anniversary of the term and thereafter on a 4 yearly upward only basis to market level. The 2022 review was agreed at £23,000.00pa.
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Monthly repayment
£2,751 per month
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