LOT 31

379 Barking Road, East Ham, E6 1LA

FREEHOLD COMMERCIAL INVESTMENT
Guide price: £390,000 - £400,000*

Auction Date

Monday, 10th December 2018 11:00am

Location & Description

A mainly two storey property comprising a ground floor shop with first floor ancillary accommodation. Towards the rear is a further two storey property which is accessed via High Street North.
On the northern side of the busy A124 Barking Road, close to the town hall and near to the junction with High Street North where there is a variety of multiple retailers including Betfred, Lloyds Bank, Paddy Power and McDonald's amongst others. East Ham underground station (District, Hammersmith & City lines) is about ½ mile away.

EQUIVALENT TO £18,000 p.a. WITH 2017 RENT REVIEW OUTSTANDING

PLANNING

The adjoining site (not in seller's ownership) has planning permission granted by London Borough Newham on 09.05.2018 (Ref:16/03805/FUL) to provide two retail units, a gym and 98 residential units

Property Features

  • Equivalent to £18,000 p.a.
  • Rent Review Outstanding
  • Development Potential (subject to consents)
  • Adjoining Site has PP for Substantial Scheme
  • EPC Rating: D

Status

Sold for £399,000

Accommodation

Column 1 Column 2 Column 3
Front Building
Ground Floor: 635 sq ft (59 sq m)
First Floor: 300 sq ft (27.8 sq m)
Rear Building
Ground Floor: 312 sq ft (29 sq m)
First Floor: 312 sq ft (29 sq m)
The entire property is let on a repairing and insuring lease to Paul John Barter (trading as a beds/furniture store) for 15 years from 08.03.2011 at £18,000 p.a. Rent reviews 2017 (outstanding) and 3 yearly.

* 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.