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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Result: Withdrawn Guide price: £1,350,000 plus*
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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Withdrawn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

Ashok Sodha

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.