LOCATION
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.

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.

ACCOMODATION
Unit 1 - 149.7sqm/1,611sq.ft
Unit 1a - 72sqm/775sq.ft

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.

This Tenancy is outside the Landlord & Tenant Act

PRICE
£375,000 Plus Vat for the Freehold & Part Long Leasehold.

Vat is payable on the purchase price however it is capable of being a transfer of a going concern if the requirements of HMRC are met

LEGAL COSTS
Each side to pay their own legal costs

EPC
To follow

NOTE
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

ADMINISTRATIVE FEE
Upon terms being agreed and prior to Solicitor’s being instructed, the prospective tenant/purchaser is to pay an administrative fee of £500 plus VAT to Andrew Caplin Commercial Limited. The fee will cover all associated administrative costs including any referencing fees incurred. In the event that the Landlord or Vendor withdraws from the transaction once solicitors are instructed, 50% of the fee will be refunded