Dagenham is a popular East London suburb some 12 miles north-east of Central London. The property is situated in a highly prominent position on Heathway (A1240), opposite the Heathway Shopping Centre. The centre houses occupiers including Boots the Chemist, JD Sports and Wilko. Other nearby occupiers include Greggs, Iceland, Lidl and Tesco Express.
Tenure
Freehold.
Location
Miles
3 miles south-east of Romford, 6 miles east of Stratford, 12 miles north-east of Central London
Dagenham is a popular East London suburb some 12 miles north-east of Central London. The property is situated in a highly prominent position on Heathway (A1240), opposite the Heathway Shopping Centre. The centre houses occupiers including Boots the Chemist, JD Sports and Wilko. Other nearby occupiers include Greggs, Iceland, Lidl and Tesco Express.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with part first floor ancillary accommodation. Part of the first floor and the entire second floor provide two self-contained two bedroom maisonettes which are accessed via dedicated entrances at the rear.
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 retail unit with part first floor ancillary accommodation. Part of the first floor and the entire second floor provide two self-contained two bedroom maisonettes which are accessed via dedicated entrances at the rear.
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
Reviews
Ground First First/Second
Retail Ancillary Residential
153.60 sq m 10.06 sq m 2 x 2 bed maisonettes
(1,653 sq ft) (120 sq ft)
POWER LEISURE BOOKMAKERS LIMITED guaranteed by Paddy Power plc (1) (2)
15 years from 21/02/2014 until 20/02/2029 (3)
£65,000
21/02/2019 (outstanding) 21/02/2024
Total Commercial Area
163.66 sq m
(1,773 sq ft)
£65,000
(1) For the year ending 31 December 2017, Power Leisure Bookmakers Limited reported a turnover of £909,634,526, pre-tax profits of £98,717,065 and a total net worth of £41,015,809 (Source: Experian Group 19/02/2019). (2) We understand the two residential flats have been sublet. (3) The tenant did NOT exercise its February 2019 break option.