Retail let to Jennings Racing Limited until 2033 (No breaks)
Vacant possession of a one bedroom self-contained flat
Town centre location some 10 miles north-east of Central London
Nearby occupiers include Boots The Chemist, Superdrug, Iceland and Costa Coffee
Currently Producing £40,000 p.a.x. with 1 bed flat to be let
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 60
Auction 23rd March 2016
Rent £40,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
10 miles north-east of Central London
Roads
M11, M25, A10, A406 (North Circular Road)
Rail
Angel Road Railway Station, Highams Park Railway Station
Air
London City Airport, London Stansted Airport, London Heathrow Airport, London Gatwick Airport
Situation
Chingford is an important suburb some 10 miles north-east of Central London, some 3 miles west of the M11 Motorway and 6 miles south of the M25 Motorway. The property is situated within the town centre on the east side of Old Church Road, some 80 metres north of its junction with Hall Lane. Nearby occupiers include Boots Pharmacy, Superdrug, Iceland and Costa Coffee.
Tenure
Freehold.
Location
Miles
10 miles north-east of Central London
Roads
M11, M25, A10, A406 (North Circular Road)
Rail
Angel Road Railway Station, Highams Park Railway Station
Air
London City Airport, London Stansted Airport, London Heathrow Airport, London Gatwick Airport
Situation
Chingford is an important suburb some 10 miles north-east of Central London, some 3 miles west of the M11 Motorway and 6 miles south of the M25 Motorway. The property is situated within the town centre on the east side of Old Church Road, some 80 metres north of its junction with Hall Lane. Nearby occupiers include Boots Pharmacy, Superdrug, Iceland and Costa Coffee.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation and a separate self-contained residential flat on the first floor, accessed from the side of the property. The flat is highly specified with double glazing and central heating. The property also benefits from a large rear garden.
Six Week Completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground floor retail accommodation and a separate self-contained residential flat on the first floor, accessed from the side of the property. The flat is highly specified with double glazing and central heating. The property also benefits from a large rear garden.
Six Week Completion
VAT
VAT is 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
Ground
Retail
127.20 sq m
(1,369 sq ft)
JENNINGS RACING LIMITED (1)
25 years from 05/09/2008 until 04/09/2033 on a full repairing and insuring lease
£40,000
05/09/2018 05/09/2023 05/09/2028
First
1 Bed Flat
49.61 sq m
(534 sq ft) (2)
VACANT POSSESSION (3)
Totals
176.81 sq m
(1,903 sq ft)
£40,000
(1) Jenningsbet currently has over 500 employees and is the UK’s largest independent retail bookmaker with over 100 locations in the UK. The company was founded and licenced in May 1961, making it the oldest betting company in Britain (Source: www.jenningsbet.com). (2) The floor areas of the self-contained flat shown above are Gross Internal Areas. (3) The flat was recently vacated and was let on an Assured Shorthold Tenancy at a rent of £850 per calendar month.
