RARE opportunity to acquire this freehold commercial investment situated on Cranbrook Rd. The building is arranged over 5 floors, with a large basement hall, ground floor grocery shop & offices located to the upper levels. Benefitting from having Development potential above to convert offices into apartments. Current passing rent: £175,000 PA 

Location: 
104-106 Cranbrook Road, Ilford, Essex IG1 4LZ 

This freehold commercial property is located in a very popular location comprising of three separate units, a huge grocery shop, spacious basement night club/restaurant and offices above. Nearby notable occupiers including Pizza hut, KFC and Subway. The Great spoon of Ilford Public house is also located on the same road. 

Ilford is located within the London Borough of Redbridge immediately east of the London's North Circular Road (A406) some 7 miles east of the City of London. The town has excellent communications with the A12 and M11 motorway immediately to the north. Ilford Mainline Station also provides a regular service to London's Liverpool Street Station and Gants Hill Station provides access to the Underground (Central Line).

The unit is located on the corner of Wellesley Road with Somerfield supermarket on the opposite corner. 



Description: 
The unit comprises of a ground floor grocery shop and a basement venue hall. The remaining upper parts comprise first, second and third floor serviced office accommodation which is subject to an existing lease. 

Accommodation: 

The accommodation is arranged over four storeys with an additional basement level:

Basement = 334 sq meters (3640 sq ft) 

Ground floor = 344 sq meters (3706 sq ft) 
First floor = 312 sq meters (3224 sq ft) 
Second floor = 312 sq meters (3361 sq ft) 
Third floor = 35 sq meters (374 sq ft) 

Total 14,168 sq. ft. 

A passenger lift serves floor 1 and 2. There is also a plant room on the third floor.

Leases:
The ground floor Grocery: let to a Polish supermarket for 6 years from 31 January 2012 at £65,000 pa
Basement venue: let to a Shisha Bar for 7 years from January 2012 at a rent of £45,000 pa
Upper offices: The 1st and 2nd floors are let to Team 2 Telecommunications Limited for a term of 20 years (25 March 1998) at a rent of £65,000 p.a. 
FRI with 5 yearly upward only rent reviews. Lease assigned to Bizvantage Systems limited 

TOTAL CURRENT RENT: £175,000 p.a


Rates: 
We have been informed by the local Rating Authority that the following rate-able value applies to the ground floor only: - 2005 list - £40,250. Interested parties are advised to make their own enquiries. 

VAT: Not Applicable

TENURE: Freehold

Terms: 
Our clients are looking to dispose of their freehold interest and offers are invited in excess of £3,500,000. (VAT Not Applicable)

SERVICES AND APPLIANCES 
The agents have not tested any apparatus, equipment, fixtures, fittings or services and cannot verify they are in working order or fit for the purpose.  The buyer should obtain confirmation from the solicitor or surveyor 
 
VIEWING 
By arrangement with Royal Estates

FIXTURES AND FITTINGS 
Excluded from the sale unless referred to herein 
 
MONEY LAUNDERING REGULATIONS
Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

THE PROPERTY MISDESCRIPTIONS ACT 1991
The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are NOT included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property

Under the Property Misdescription Act 1991 we endeavour to make our sales details accurate and reliable but they should not be relied upon as statements or representations of fact and they do not constitute any part of an offer of contract. The seller does not make any representations to give any warranty in relation to the property and we have no authority to do so on behalf of the seller. Services, fittings and equipment referred to in the sales details have not been tested (unless otherwise stated) and no warranty can be given as to their condition. We strongly recommend that all the information which we provide about the property is verified by yourself or your advisers.

Under the Estate Agency Act 1991 you will be required to give us financial information in order to verify you financial position before we can recommend any offer to the vendor.