227 - 231 Heath Way Dagenham Essex RM9 5AN

  • 227 - 231 Heath Way<br>Dagenham<br>Essex<br>RM9 5AN

227 - 231 Heath Way
Dagenham
Essex
RM9 5AN

Highly Reversionary Freehold Ground Rent Investment

  • Let to Barclays Bank Plc on a 99 year lease until 24th March 2037
  • Valuable freehold reversion in approximately 21 years
  • Excellent corner location in popular East London suburb
  • Close to Heathway Shopping Centre
  • Nearby occupiers include include JD Wetherspoon, Iceland, Lidl and Nationwide
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    14
  • Auction
    13th October 2016
  • Rent
    £135 per Annum Exclusive
  • Status
    Sold
  • Price
    £528,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
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Highly Reversionary Freehold Ground Rent Investment

  • Let to Barclays Bank Plc on a 99 year lease until 24th March 2037
  • Valuable freehold reversion in approximately 21 years
  • Excellent corner location in popular East London suburb
  • Close to Heathway Shopping Centre
  • Nearby occupiers include include JD Wetherspoon, Iceland, Lidl and Nationwide
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 14
  • Auction 13th October 2016
  • Rent £135 per Annum Exclusive
  • Status Sold
  • Price £528,000
  • Sector
    Ground Rent
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
3 miles south-east of Romford, 6 miles east of Stratford, 12 miles north-east of Central London
Roads
A12, A13, A406 (North Circular Road), M11 (Junction 12), M25 (Junction 28, 29)
Rail
Dagenham Heathway (150m away - District Line), Goodmayes and Chadwell Heath Railway Stations
Air
London City Airport
Situation

The property is situated in a highly prominent corner position with frontages to both Heathway (A1240) and Hedgemans Road. Heathway Shopping Centre is located diagonally opposite the property, housing occupiers including Boots the Chemist, Tesco Express and Wilko. Other nearby occupiers include include JD Wetherspoon, Iceland, Lidl, Nationwide and a number of independent retailers.

Tenure

Freehold.

Location
Miles
3 miles south-east of Romford, 6 miles east of Stratford, 12 miles north-east of Central London
Roads
A12, A13, A406 (North Circular Road), M11 (Junction 12), M25 (Junction 28, 29)
Rail
Dagenham Heathway (150m away - District Line), Goodmayes and Chadwell Heath Railway Stations
Air
London City Airport
Situation

The property is situated in a highly prominent corner position with frontages to both Heathway (A1240) and Hedgemans Road. Heathway Shopping Centre is located diagonally opposite the property, housing occupiers including Boots the Chemist, Tesco Express and Wilko. Other nearby occupiers include include JD Wetherspoon, Iceland, Lidl, Nationwide and a number of independent retailers.

Tenure

Freehold.

Description

The property comprises a ground floor bank with five separately accessed flats arranged on the first and second floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor bank with five separately accessed flats arranged on the first and second floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

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
First & Second		 Banking Hall/Ancillary
5 Residential Flats (2)		 351.20 sq m
- 		(3,780 sq ft)
(-)		 BARCLAYS
BANK PLC (1)		 99 years from 25/03/1938 on a
full repairing and insuring lease		 £135 25/03/2037  
Totals   626.88 sq m (6,748 sq ft)     £135    

(1) For the year ending 31st December 2015, Barclays Bank Plc reported pre-tax profits of £2,841,000,000 and a total net worth of £55,845,000,000 (Source: Experian Group 19/08/2016).
(2) The residential flats have been sublet.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Shakespeare Martineau LLP 8 Homer Road
Solihull
West Midlands
B91 3QQ
Nick Atkinson 0121 705 8151nick.atkinson@shakespeares.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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