Ground floor retail unit let on a recent 10 year lease until 2024 (no breaks)
Popular East London suburb
Town centre location with good access to Hornchurch Underground Station (District Line)
Nearby occupiers include Boots the Chemist, Holland & Barrett, Costa, ASK and Lloyds Bank
Currently Producing £20,000 p.a.x. (gross)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 13
Auction 23rd March 2016
Rent £20,000 per Annum Exclusive
Status Sold
Price £240,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
16 miles east of City of London, 18 miles south-west of Chelmsford, 2.5 miles south-east of Romford
Roads
A12, A127, M25 (Junction 29)
Rail
Hornchurch Underground Station (District Line), Emerson Park Railway Station, Romford Railway Station
Air
London City Airport, London Heathrow Airport, London Stansted Airport, London Southend Airport
Situation
Hornchurch is a popular and affluent East London suburb situated some 16 miles east of the City of London and 5 miles west of the M25 (Junction 29). The property is situated on the eastern side of Station Lane in Hornchurch town centre, close to its junction with the A124. Nearby occupiers include Boots the Chemist, Holland & Barrett, Costa, ASK and Lloyds Bank. Gidea Park Crossrail Station is situated some 2 miles to the north of the property.
Tenure
Long Leasehold. Held for a term of 170 years from 1st January 2015 until 31st December 2185 at a current rent reserved of £280 per annum exclusive.
Location
Miles
16 miles east of City of London, 18 miles south-west of Chelmsford, 2.5 miles south-east of Romford
Roads
A12, A127, M25 (Junction 29)
Rail
Hornchurch Underground Station (District Line), Emerson Park Railway Station, Romford Railway Station
Air
London City Airport, London Heathrow Airport, London Stansted Airport, London Southend Airport
Situation
Hornchurch is a popular and affluent East London suburb situated some 16 miles east of the City of London and 5 miles west of the M25 (Junction 29). The property is situated on the eastern side of Station Lane in Hornchurch town centre, close to its junction with the A124. Nearby occupiers include Boots the Chemist, Holland & Barrett, Costa, ASK and Lloyds Bank. Gidea Park Crossrail Station is situated some 2 miles to the north of the property.
Tenure
Long Leasehold. Held for a term of 170 years from 1st January 2015 until 31st December 2185 at a current rent reserved of £280 per annum exclusive.
Description
The property comprises a modern ground floor retail unit forming part of a larger building. The property benefits from car parking at the rear for 2 cars.
Six Week Completion
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a modern ground floor retail unit forming part of a larger building. The property benefits from car parking at the rear for 2 cars.
Six Week Completion
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground
Retail
113.60 sq m
(1,223 sq ft)
INDIVIDUAL (t/a Boy About Town)
10 years from 06/05/2014 on a full repairing and insuring lease (1)
£20,000
05/05/2018 05/05/2022 (06/05/2024)
Totals
113.60 sq m
(1,223 sq ft)
£20,000
(1) The lease is outside of the Security of Tenure provisions of the Landlord & Tenant Act 1954.
