LOT 24

89-91 Lower Clapton Road, Clapton, E5 0NP

FREEHOLD RESIDENTIAL INVESTMENT (3 FLATS LET ON ASSURED SHORTHOLD TENANCIES) AND COMMERCIAL AND RESIDENTIAL GROUND RENTS
Guide price: £500,000 plus*

Auction Date

Tuesday, 16th July 2019 12:00pm

Location & Description

A pair of adjoining 3 storey buildings on the west side of Lower Clapton Road (A107) between its junctions with Glenarm Road and Median Road about ½ mile south of Lea Bridge Road roundabout and within about ½ mile of Hackney Central and Hackney Downs mainline railway stations to the west and Clapton mainline railway station to the north.

Accommodation

Ground Floor Shops 88-91:
Sold on a lease for 999 years from 29.09.1985 at £25 p.a.
First/Second Floor Flat (No. 89):
Sold on a lease for 125 years from 25.12.2004 at £200 p.a. (rising).
Flats above 91 (security gated tunnel access adjacent to No. 89)
First Floor Flat: Living room, hallway with recessed kitchen area, bedroom and en-suite bathroom/WC.
Subject to an AST until 24.09.2019 at a rent of £1,107.16 pcm
Second Floor Studio Flat (rear): 1 room with kitchen area and en-suite bathroom/WC.
Subject to an AST until 20.01.2020 at a rent of £845 pcm
Second Floor Studio Flat (front): 1 room with kitchen area and en-suite bathroom/WC.
Subject to an AST until 15.02.2016 (holding over) at a rent of £434.52 pcm

EQUIVALENT TO £28,865.16 p.a,

Addendum

Ground floor shops in accommodation should read 89-91. The lease of the shops commenced 29/09/1988 and not as stated in the catalogue. The tenant of the 2nd floor rear flat has exercised the option to terminate the tenancy and will vacate by 31st July 2019.

* 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. 

VIEWINGS

    Thursday 4th July - 11am
    Thursday 11th July - 11am