LOT 24A

1 - 3 Orsett Road, Grays, Essex, RM17 5DA

FREEHOLD COMMERCIAL INVESTMENT
Result: Withdrawn Prior to Auction Guide price: Withdrawn*

Auction Date

Wednesday, 6th February 2019 11:00am

BY ORDER OF B TOBIN & P JOSEPH OF STRETTONS AS LPA RECEIVERS

Location & Description

A pair of adjoining commercial units arranged over ground and first floors on the north side of Orsett Road opposite the Queensgate shopping centre within a busy parade adjacent to The Old Court House Business Centre. There is parking to the rear.

Accommodation

Arranged as 2 commercial units as follows:
No.1 Orsett Road:
Ground Floor Retail/Office: 770 sq ft (71.5 sq m)
First Floor Office: 1,103 sq ft (102 sq m)
No.3 Orsett Road:
Ground Floor Retail/Office: 666 sq ft (61.8 sq m)

Lease Details

Entire property subject to a lease dated 23.09.2014 for 10 years from 08.10.2013 with 5 yearly reviews to Sequence (UK) Ltd trading as William H Brown. We understand that the rent review on 09.10.2018 has not been implemented.
No. 3 sublet to Kayode Adelekan trading as Kays Barber Shop for 5 years ending 01.10.2023 at £15,000 p.a. (excluded from Landlord and Tenant Act 1954 security of tenure).

EQUIVALENT TO £21,000 p.a. WITH POTENTIAL TO INCREASE.

EPC Rating

C

Status

Withdrawn Prior to Auction

* 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.