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96 Market Pl - Tollgate House 2,386 sq ft Office Unit Offered at £375,000 in Romford RM1 3ER
Investment Highlights
- Prominent retail units with two shopfronts forming part of a modern mixed-use building
- Freehold & long leasehold interest within a well-established commercial scheme
- Attractive investment profile with one unit let and one vacant, offering income and asset-management potential
Executive Summary
The subject property is located in a highly visible and prominent position at the Northern end of Market Place adjoining one of the entrances to The Liberty Shopping Centre in the Romford Town Centre.
Property Facts
| Total Property Size | 9,504 sq ft | Typical Floor Size | 2,376 sq ft |
| Property Type | Office (Unit) | Year Built | 1880 |
| Property Subtype | Office / Residential | Tenancy | Single |
| Costar Property Class | B | Total Plot Size | 0.18 ac |
| Floors | 4 | Parking Allocation | 26.41/1,000 sq ft |
| Total Property Size | 9,504 sq ft |
| Property Type | Office (Unit) |
| Property Subtype | Office / Residential |
| Costar Property Class | B |
| Floors | 4 |
| Typical Floor Size | 2,376 sq ft |
| Year Built | 1880 |
| Tenancy | Single |
| Total Plot Size | 0.18 ac |
| Parking Allocation | 26.41/1,000 sq ft |
Amenities
- Storage Space
- Air Conditioning
1 Unit Available
Unit 1 & 1a
| Unit Size | 2,386 sq ft | Unit Use | Office |
| Price | £375,000 | Sale Type | Investment or Owner Occupier |
| Price Per sq ft | £157.17 | Tenure | Freehold/Long Leasehold |
| Unit Size | 2,386 sq ft |
| Price | £375,000 |
| Price Per sq ft | £157.17 |
| Unit Use | Office |
| Sale Type | Investment or Owner Occupier |
| Tenure | Freehold/Long Leasehold |
Description
Comprising 2 commercial shop fronts forming part of Tollgate House
which was constructed in 2006 as part of Phase 1 of the Market Place
redevelopment.
The upper parts have been sold off and are converted to 9 flats.
Unit 1 is vacant Unit 1a is Let to CRC London Limited for 5 years from 20
September 2021 at a current rent of £15,000 per annum.
Sale Notes
In terms of additional commentary this is a sale of the Freehold and part
long leasehold.
Our Client in terms of the long leasehold part which they own and forms
part of this sale relates to the part of the building which sails over the
public walkway below – the freehold of that part is held by the London
Borough of Havering.
That lease was granted for a 150 year term in 2006 and, whilst this part of
the overall sale is not a, ‘Virtual Freehold’, the premises demised by the
150 year lease cannot be accessed by any means other than through our
clients freehold interest which is also being sold
Contact
-
Andrew Caplin -
Andrew Caplin Commercial Ltd
Presented by
96 Market Pl - Tollgate House
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