Retail premises for sale in Hermit Road, Canning Town E16, £550,000

550,000.00

Offer Nr.:
60328153
Type of ad:
for Sale
Property type:
Retail premises
Contact name:
Taylor Freeman Kataria
Phone(s):
020 8115 0583

* 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.

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