Mixed use Commercial and Residential Property for sale -Roneo Corner, Hornchurch, Greater London, RM12 4TN** LOT 1 GUIDE £850,000 FOR ENTIRE FREEHOLD **** LOT 2 GUIDE £500,000 FOR FREEHOLD COMMERCIAL UNIT **
Description:
A Freehold building comprising of a double fronted car showroom on the ground floor, two residential flats to the first floor and additional development potential for two additional flats in the airspace. There is also scope for the part conversion of the rear of the property to the ground floor for one further residential flat, subject to the necessary planning consents.
Planning & Development Potential:
It is considered there could be development potential to add two residential flats in the airspace above the first floor flats. There is also further scope for the part conversion of the rear of the property to the ground for one additional residential flat, subject to obtaining suitable planning consent.
A Planning Policy report was undertaken in November 2021, which will be provided within the legal pack prior to the auction.
Location:
The property is located on Roneo Corner in Hornchurch, bordering Romford. It has the the benefit of dual rear access to the site via Grenfell Avenue and Upper Rainham Road. This is a high visibility location for passing footfall with excellent nearby amenities and transportation links.
Tenure:
The property will be sold freehold with vacant possession upon completion for the commercial unit to the ground floor. The first floor leasehold flats are currently let on AST agreements for £1,000 pcm. Both are due for rental reviews, upon which it is considered that the rents could each be increased to £1,150 pcm.
Terms:
The property shall be sold under auction terms through YourLandAgency's joint auctioneer partners Dedman Gray, with the following purchase options available:
1. The entire freehold property is offered for sale at £850,000
2. The commercial freehold premises (with vacant possession) to be offered at £500,000 if purchased individually
** Hornchurch Commercial Property for sale | Development sites Hornchurch | Mixed Use Commercial Property **
