LOT 18

1 Park Lane, Hornchurch, Essex, RM11 1BB

FREEHOLD COMMERCIAL AND RESIDENTIAL INVESTMENT

Result: Sold for £446,000 Guide price: £395,000 PLUS*

Auction Date

Thursday, 27th May 2021 12:00pm

A mid terraced property comprising a shop together with two self-contained flats which are accessed via the rear of the building. Located at the roundabout where Park Lane meets Brentwood Road and Albert Road in a mixed commercial and residential area. Romford Town Centre, The Liberty Shopping Centre and mainline station is just over ½ mile away.

Accommodation

Ground Floor Chemist: 695 sq ft (64.62 sq m)
First Floor Flat (1A) 2 bedrooms, reception/kitchen, bathroom/toilet
Second Floor Flat (1B) 1 bedroom, reception/kitchen, shower/toilet

Tenancy Details

The ground floor Chemist is subject to a lease until 2027 at a current rent of £13,500 p.a. They have been there for over 30 years
The next rent review is due 2024
The first floor flat is subject to an AST at £1,000 pcm
The second floor flat is subject to an AST at £775 pcm

EQUIVALENT TO £34,800 P.A.

EPC Rating

SHOP: D 1A: D 1B: TBA

Note

Auction Surveyor: Sam Harborne
Contact: 020 8509 4414 sam.harborne@strettons.co.uk

Status

Sold for £446,000

* 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.