LOT 38

Academy Square, 1 Academy Fields Road, Gidea Park, Essex, RM2 5UE

FREEHOLD GROUND RENT INVESTMENT PLUS INCOME FROM 8 STORAGE CAGES
Guide price: £80,000 plus*

Auction Date

Tuesday, 22nd May 2018 11:00am

Location & Description

An attractive detached Grade Ii listed former school building which has been converted into 14 self-contained flats.
Forming part of the Academy Fields Development just to the east of central Romford with its shopping centre and mainline station (Crossrail from 2019) about ¾ mile away and Gidea Park mainline station (Crossrail from 2019) about ½ mile away.

Accommodation

Flats 1-14: Each sold on 125 year leases from 29.09.2004 at £250 p.a. (rising).
Rear basement & roof space: Each sold on 125 year leases from 29.09.2004 at a peppercorn. (See next 2 lots).

Basement storage cages 1-8 (inclusive): Each let on a yearly licence from 01.01.2018 at £200 p.a.

Note

The rear basement & roof space are each offered separately in the next 2 lots.

EQUIVALENT TO £5,100 p.a.

Status

* 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.