At Ideal Locations we are always looking for ways to make the viewing of our properties a stress free and safe experience. Due to the current climate of events we are sympathetic, that interested parties may feel uncomfortable viewing properties. Therefore, we are now offering viewings via Video Call as well as a Video Tour of all our properties which can be sent to you.

We are proud to present this A1 Usage Open/Renewable Lease assignment, currently trading as a successful DIY Store. Located in Stratford, this business has been successfully operating from this location for the past 5 years. This lease currently has 3 years remaining, with the option to be renewed for a term to be negotiated.

The property offers 960 sq. ft. approx. of space with a rear garage which is currently used as storage. The current lease holder seeks a figure of £15,000 for this lease.

Accommodation:

Shop Floor – 11.75 m x 5.29 m

Rear Garage – 6.6 m x 6.28 m

TOTAL – 89.12 m2 (960 sq.ft.) Approx.

Rent:

£12,000 per annum (to be paid quarterly)

Tenure Lease Assignment:

A lease assignment of 3 years is to be offered, with the option to renew for a further term with the Freeholder. The freeholder for this property is Newham Council.

Premium:

Our client seeks a premium of £15,000 for this lease.

Legal fees:

The incoming tenant is to bear their own legal costs, as well as the landlords. The seller will bear his/her own legal costs.

Business Rates:

We have been advised that there are ZERO rates payable for this property due to small business relief. However, interested parties are encouraged to make their own enquiries with The London Borough of Newham.