LOT 20

53 East Street, Barking, Essex, IG11 8EJ

FREEHOLD COMMERCIAL INVESTMENT OCCUPIED BY O2, 2 SELF-CONTAINED VACANT OFFICE SUITES WITH RESIDENTIAL APPLICATION & 1 FLAT LET ON AST
Result: Refer to auctioneer Guide price: £700,000 plus*

Auction Date

Wednesday, 6th February 2019 11:00am

Location & Description

A large 3 storey terraced property comprising a shop, two self-contained office suites (front access) and a rear self-contained split level flat reached from a shared service road via London Road. In the pedestrianised busy market section of East Street where many national multiples are located including Boots, McDonald's, Iceland, Poundland, Specsavers and Paddy Power (next door). Barking mainline & underground station (District line) is a few minutes walk away.

Accommodation

Shop: Sales area 675 sq ft (62.7 sq m) plus office, WC - not seen
Subject to a repairing and insuring lease to JLMCOM Ltd from 26.11.2014 to 28.09.2023 at £25,500 p.a. (September. 2018 rent review outstanding).
Self-Contained Second Floor Offices: 460 sq ft (42.8 sq m) including kitchen, plus WC - VACANT
Self-Contained First Floor Offices: 425 sq ft (39.5 sq m) plus WC - VACANT
Rear self-contained split level flat with own street door and double glazing
Upper Floor: 2 rooms, bathroom/WC
Lower Floor: Reception, fitted kitchen, WC
Let on AST until 05.08.2019 at £800 pcm

EQUIVALENT TO £35,100 p.a. (2018 rent review outstanding) PLUS 2 VACANT OFFICE SUITES WITH APPLICATION SUBMITTED UNDER PERMITTED DEVELOPMENT TO CONVERT THEM INTO ONE LARGE 2 BEDROOM SPLIT LEVEL FLAT (DECISION IMMINENT)

Property Features

  • Town Centre Location
  • Freehold Shop Occupied by O2 and Flat Let
  • 2 Vacant Office Suites with Residential Application
  • £35,100 p.a.
  • VAT is Payable

Status

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.