Investment Properties: Spectrum Building, 22-42 Freshwater Road, Chadwell Heath RM8 1RY
Spectrum Building, 22-42 Freshwater Road, Chadwell Heath RM8 1RY
OIEO £3,500,000 subject to contract - Freehold
- Recently developed 7-storey (plus basement) building comprising 2 commercial units and 60 residential apartments (50 sold off and 10 let on ASTs).
- Commercial space (9,828ft2 NIA) let to a gym and nursery on separate FRI leases, producing a combined income of £78,000 per annum.
- Sold off apartments producing a ground rent income of £12,500 per annum and the 10 retained units (5,565ft2 NIA) producing £133,500 per annum.
- Outline planning permission for the construction of an 8-storey building in the car park area to provide 16 residential apartments.
- Located in close proximity to the town centre and circa 0.3 miles from Chadwell Heath Station, which will operate Crossrail services.