LOT 29

62 East Street, Barking, Essex, IG11 8EQ

SUBSTANTIAL FREEHOLD COMMERCIAL/RESIDENTIAL INVESTMENT
Result: Sold for £835,000 Guide price: £825,000 - £850,000*

Auction Date

Tuesday, 16th July 2019 12:00pm

Location & Description

A substantial four storey building arranged as two self-contained flats and a commercial unit on the east side of East Street within the busy pedestrianised market section where many national multiples are located including, Boots, McDonalds, Iceland, Poundland, Specsavers and Paddy Power. Vicarage Fields shopping centre is in Ripple Road where there is access to the flats via a service road. Barking mainline and underground station (District line) is within a few minutes walk.

Accommodation

Shop & Basement:
Ground Floor: 1,375 sq. ft. (127.71 sq. m.) plus basement storage area (areas from VOA web site).
Occupied under the terms of a repairing and insuring lease to Cashino Gaming Ltd (over 60 UK High Street venues, www.cashino.com) from 13.07.2013 until 15.07.2028 at £36,000 p.a. with 5 yearly reviews.

First Floor Flat (B): Large living room, kitchen, double bedroom, bathroom/WC, double glazing, central heating. Subject to an AST for 1 year from 12/03/2018 (holding over) at £895 pcm.

Second/Third Floor Flat (A): 2nd floor, large living room, kitchen, bathroom/WC. 3rd floor, 2 large bedrooms, double glazing, central heating. Subject to an AST for 1 year from 08.12.2017 (holding over) at £825 pcm.

EQUIVALENT TO £56,640 p.a.

EPC Rating

D

Property Features

  • Prime Shopping Location
  • Close to Station (soon to be Crossrail)
  • Substantial Income
  • Producing £56,640 p.a.

Status

Sold for £835,000

* 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.