Romford
Faringdon Avenue
RM3 0AB
0.22 Hectare (0.54 Acre)
Location
The site is situated in the Harold Hill suburb of Romford, and is located 600 metres from a 5-way intersection including four primary routes of Eastern Avenue East (A12), Colchester Road (A12), the Southend Arterial Road (A127) and Main Road (A118). Romford town centre is approximately 3.5 kilometres to the south west of the site.
The site is bound to the north by Faringdon Avenue, and Neave Crescent to the west, whilst residential properties on Gascoyne Close form the southern boundary. Existing development in the immediate area includes industrial, office, trade counter and employment uses to the north and east of the site, whilst residential areas predominate to the south and west.
Description
The site comprises a Jet petrol filling station and an MOT inspection station to the rear of the site. The filling station consists of four pump islands in a four-square formation under a large canopy and a single-storey shop of approximately 90 sq m (970 sq ft). The site also benefits from an open car wash along the western boundary and air/water facilities.
The site extends to approximately 0.22 hectare (0.54 acre).
Trading
The site is offered subject to a fuel supply agreement. Further details will be released to shortlisted parties.
Year |
Fuel /Litres |
Shop |
Valeting |
Other income |
2005 |
3,196,412 |
£747,061 |
£3,300 |
£4,832 |
2006 |
2,548,080 |
£1,043,610 |
£12,048 |
£2,260 |
2007 |
2,758,021 |
£1,185,294 |
£10,829 |
£1,378 |
Revenues exclude VAT.
Planning
Planning officers have stated that the site may be suitable for residential development, subject to obtaining satisfactory planning approvals. Please refer to the Planning Commentary for further information.
Environmental Condition & Indemnity
An Environmental Report Summary of the property is included within the Further Information section, which outlines the reports carried out on the site. Prospective purchasers will be able to undertake updated Environmental Assessments at their cost, following exchange of contracts, in order to satisfy themselves on the condition of the property. Copies of previous reports will be available for shortlisted parties, subject to assignment from the respective consultants. The successful purchasers will be required to provide an environmental indemnity to the Vendor for all past or future contamination.
Tenure
The site is available freehold with vacant possession, or as a trading entity. Part of the site is let on a lease with effect from December 2005, terminating November 2008, outside the 1954 LTA at a passing rent of £10,000 per annum. If acquired as a trading site, TUPE regulations will apply and wet and dry stock is to be purchased at cost upon completion.
Offers
The preference is for unconditional offers to be submitted. However, conditional offers upon planning will also be considered. All offers must be accompanied by details of funding for the proposed acquisition. Conditional offers must include full supporting information together with site layout plans and details of conditions.
All offers are to be submitted to Mark Frostick no later than 12 noon on Friday 18th July 2008. Our clients do not bind themselves to accept the highest or any offer received. Prior to submitting any offer, interested parties should refer to the sale contract detailing the conditions of the disposal and other relevant information found in the Further Information section.
All offers are to be set out on the Schedule provided.
Stamp Duty
Stamp duty will apply on the sale of this property.
Legal Costs
Each party to be responsible for their own legal costs incurred in the transaction.
VAT
Value Added Tax will be charged at the prevailing rate.
Viewing
Strictly by appointment through the sole agent.
Staff are unaware of the impending sale and no formal viewings will be undertaken. The site is currently trading and can be inspected as a "customer". Under no circumstances should the staff be approached regarding the sale.
Contact
Mark Frostick
- 01480 371 456 -
maf@rapleys.co.uk