High Road, Loughton, Essex, IG10

Location.
The property is situated towards the Southern end of the High Road, in the section most commonly occupied by longstanding local occupiers who include the likes of Forest Casual & School Wear, The Bookshop & Secret Toy Shop, Whitneys Carpets, & Lopping Hall. National occupiers within close proximity include M & S Simply Food, The Ginger Pig (Butcher), Sainsbury's, Nando's & Majestic Wine. Loughton (Central Line) underground station is within a 5 minute walk. The Town's retail offering is able to draw on a customer base from the equally affluent adjoining catchment areas of Buckhurst Hill & Chigwell.

Accommodation.
Comprising a substantial retail unit (class E) use, laid out in mainly open space which widens considerably roughly halfway into the unit. There is an office on the ground floor & access to an enclosed yard with staircase leading onto an extensive flat roof from which the 1st floor storage is accessed. The storage area is mainly open & has WC / kitchen facilities.

Approximate floor areas & dimensions are as follows:
Gross Frontage 27' 6'' (8.2m)
Shop width - min 26' 3'' (8m) widening to 52' 6'' (16m)
Built depth 79' 6'' (24.2m)
Ground floor sales 3,015sq ft (280sq m)
1st floor storage 909sq ft (84.44sq m)

Planning History.
A pre-app for conversion of the upper parts was made in December 2024 which we understand was favourably received by Epping Forest District Council. The plans included an additional floor with extensions over the flat roof & access to the proposed flats from the High Road.
The application made provision for the following:

First floor flat: 2-bed 3-person unit. 73.4 sq. m. with 13 sq. m. double bedroom and 8.7m single bedroom.
Second floor flat: 2-bed 4-person unit. 79.1 sq. m. with 13 sq. m. and 13.1 sq. m. double bedrooms.

Tenure.
Freehold to include full vacant possession.

Price.
We are instructed to quote £1.125 M (One million, one hundred & twenty five thousand pounds) on an unconditional basis.

Administration Fee;
Upon terms being agreed and prior to Solicitor's being instructed, the prospective purchaser is to pay an administrative fee of £500 plus VAT to Bennett Phillips Luton. This 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

Business Rates.
According to the VOA website the following apply:
R V £38,500
Rates Payable £19,211.50pa

Prospective purchasers are advised to make their own enquiries.

Legal Costs.
Each party are to be responsible for their respective legal fees.

Possession.
Immediate upon completion of legalities.

Viewing.
Strictly by prior appointment as our client wishes to restrict public awareness where possible.