LOT 32

1069-1071 (odd) & 1077-1087 (odd) High Road, Chadwell Heath, Essex, RM6 4AU

SUBSTANTIAL FREEHOLD COMMERCIAL/RESIDENTIAL INVESTMENT

Result: Sold for £1,500,000 Guide price: £1.5m - £1.525m*

Auction Date

Monday, 8th October 2018 11:00am

A substantial three storey block comprising two ground floor double shops and eight self-contained flats above. On the north side of the High Road (A118), forming part of a local parade. Chadwell Heath mainline station, which is being upgraded as part of the Crossrail project (Elizabeth line), is within ½ mile. Chadwell Heath has good road links via the A12 which links with the North Circular Road (A406) and M25.

Accommodation

Ground Floor Double Shop (1069 & 1071): 1,283 sq ft (119 sq m) plus WC
Let on a Law Society Business Lease to Crystal Furniture & Flooring Ltd (with guarantor) for 7 years from 08.01.2010, extended to expire on 06.01.2019 at £16,000 p.a.
Ground Floor Double Shop (1085 & 1087): 1,330 sq ft (123.5 sq m) plus WC
Let on a Law Society Business Lease to Nadeem Khalid (with guarantor) for 7 years from 01.03.2015 at £10,000 p.a. Rent review 2018 outstanding.
Flats 1069a/1069b/1081/1083: Each 3 rooms, kitchen, bathroom/WC
1069a: Let to a regulated tenant at £78 per week. Effective from 21.04.2016
1069b & 1081: Each let on ASTs at £875 pcm
1083: Let on AST at £625 pcm
Flats 1071a/1071b/1077/1079: Each 2 rooms, kitchen, bathroom/WC
1071b & 1079: Each let on ASTs at £575 pcm
1071a: Let on AST at £540 pcm
1077: Let on AST at £675 pcm

EQUIVALENT TO £86,936 p.a.

IN SAME FAMILY OWNERSHIP FOR OVER 50 YEARS

Property Features

  • EPC: On application
  • Potential for Extra Floor (subject to consent)
  • Asset Management Opportunity
  • Equivalent to £86,936 p.a.
  • Freehold Investment - 2 Double Shops & 8 Flats

Status

Sold for £1,500,000

Addendum

Flat 1069B is now offered vacant. The equivalent rent is £76,436 p.a.

Joint Auctioneer

Brian Thomas Estate Agents

Brian Thomas Estate Agents Tel: 020 8590 3553 Ref: Paul Wallace

* 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.