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LOT 36ACentral House, 32-66 High Street, London, E15 2PF
LOT 36A
Central House, 32-66 High Street, London, E15 2PF
A MIXED OFFICE/RESIDENTIAL GROUND RENT INVESTMENT PROPERTY CURRENTLY PRODUCING £73,560 PER ANNUM, INCREASING TO £109,720 PA IN 2027
Result: Withdrawn
Guide price: £1,350,000 plus*
Auction Date
Tuesday, 15th December 2020 12:00pm
The entire property comprises a substantial purpose-built block with ground floor office accommodation and 193 flats arranged over 8 upper floors. The block benefits from 2 passenger lifts.
Tenure
Freehold
Lease Details
Ground Floor Offices Sold off on a 990 year lease from 2015 at an annual ground rent of £4,500.
193 Flats Each flat has been sold off on an individual 999 year lease from 2002. The ground rent for each flat doubles every 25 years. The collective ground rent will next double to £72,320 in 2027. Current collective ground rent passing £36,160.
Wall Mounted & Roof Antennae Let to Orange Plc for a term of 20 years from 4/2/08. 5 yearly reviews. Current rent passing £15,000.
Wall Mounted & Roof Antennae Let to Vodafone Ltd for a term of 25 years from Feb 2017. 5 yearly reviews. Current rent passing £17,900.
Note
Auction Surveyor: Andrew Brown - 0208 509 4470
Status
Withdrawn
Joint Auctioneer
BTC Commercial Tel: 020 8889 7474
* 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.
