LOT 31

86-88 Woodgrange Road, Forest Gate, E7 0EW

SUBSTANTIAL FREEHOLD COMMERCIAL INVESTMENT PLUS 3 FLATS LET ON ASTS
Result: Refer to auctioneer Guide price: £1,100,000 plus*

Auction Date

Monday, 16th July 2018 11:00am

Location & Description

A large terraced double shop unit and small basement with 3 self-contained flats on the east side of the busy Woodgrange Road close to Sebert Road and Forest Lane. Nearby occupiers include Tesco Express, Poundland, Iceland and (in Romford Road) Barclays Bank. Wanstead Park overground station and Forest Gate mainline station (Crossrail/Elizabeth line in 2019) are within a short walk.

Accommodation

Ground Floor Double Shop: 2,525 sq ft (234.7 sq m)
Basement
Subject to a repairing and insuring lease to Polonez Ltd (t/a a Polish Delicatessen) for 10 years from 12.01.2016 (with rent review and break clause 12.01.2021 and outside s24-28 of the Landlord & Tenant Act 1954) at £40,000 p.a.
86a & 88a: 2 flats each comprising 4 rooms, kitchen, bathroom/WC
86a let on AST for 12 months from 24.04.18 at £1,386.66 pcm
88a let on AST for 12 months from 14.10.17 at £1,430 pcm
86b: Split level flat (with planning permission) comprising 3 rooms (1 with kitchen area) shower/WC
Let on AST for 12 months from 02.02.18 at £1,000 pcm
Communal roof terrace

EQUIVALENT TO £85,799.92 p.a.

Property Features

  • Freehold
  • Double Shop & 3 Flats
  • Equivalent to Approximately £86,000 p.a.
  • Flats 86a, 88a & 86b: All E and Shop 86-88: C

Status

Addendum

The property is in a conservation area.

* 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.