62 East Street, Barking, Essex, IG11 8EQ
SUBSTANTIAL FREEHOLD COMMERCIAL/RESIDENTIAL INVESTMENT
Tuesday, 16th July 2019 12:00pm
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.
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.
- Prime Shopping Location
- Close to Station (soon to be Crossrail)
- Substantial Income
- Producing £56,640 p.a.