68 & Land Rear of 66 Collier Row Lane, Romford, Essex, RM5 3BB
FREEHOLD COMMERCIAL/RESIDENTIAL INVESTMENT
Monday, 25th March 2019 11:00am
BY ORDER OF B TOBIN & P JOSEPH OF STRETTONS AS LPA RECEIVERS
Comprising one semi-detached house, a taxi-cab office and a warehouse on an irregular shaped site in a mainly residential area just north of the Eastern Avenue (A12) which links with the M25 and the North Circular Road (A406). Romford town centre which includes the mainline station is within about 1½ miles.
Not verified by Auctioneers but understood to comprise:
Ground Floor: 2 rooms, kitchen, utility room, shower/WC
First Floor: 2 rooms (one leading to further room with restricted head height)
Let on a 12 month AST from 22.09.2014 (holding over) at £850 pcm
Taxi-Cab Office: 291 sq ft (27 sq m) plus kitchen & WCs
Understood to be let on a lease expiring on 03.11.2021 at £17,160 p.a. Tenant's break on 3 months written notice. Tenant advises they have been in occupation since 1997.
Rear Warehouse: 4,127 sq ft (383.4 sq m)
Let on repairing and insuring lease to Pemberton Global Ltd for 10 years from 01.12.2016 at £42,000 p.a.
EQUIVALENT TO £69,360 p.a.
1. Part of the warehouse (which includes the entrance) appears to encroach on to land we are not offering but the property is sold as seen and buyers must rely on their own enquiries.
2. There may be potential to redevelop the site subject to possession and all necessary consents.
- EPC Rating: On Application
- Redevelopment Potential (subject to consents)
- House, Taxi-Cab Office & Warehouse
- Equivalent £69,360 p.a.
We have received from the borrower the front page of an updated tenancy agreement in respect of the house at 68 Collier Row Lane. Please refer to the legal pack.