243 - 245 Heathway
Dagenham
Essex
RM9 5AN

Freehold Retail and Residential Investment

  • Entirely let to Power Leisure Bookmakers Limited t/a Paddy Power until 2029 (no breaks) with guarantee
  • Two self-contained maisonettes located on upper floors
  • February 2019 rent review outstanding
  • Located approximately 100m from Dagenham Heathway Station
  • Popular East London suburb
  • Lot
    31
  • Auction
    04/Apr/2019
  • Rent
    £65,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £952,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 243 - 245 Heathway<br>Dagenham<br>Essex<br>RM9 5AN
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* More information on the term "price" can be found here

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), M25 (Junction 28, 29), M11 (Junction 12)
Rail
Goodmayes and Chadwell Heath Railway Stations, Becontree (District Line), Dagenham Heathway (District Line)
Air
London City Airport
Situation

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.

Tenancy & Accommodation

FloorUseFloor Areas(Approx)TenantTermRent p.a.xReviews
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)
£65,00021/02/2019
(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.

Property Documents

  • Catalogue Page
    Updated Date
    11.04.19
    File Size
    750 KB
    View PDF
  • Site Plan
    Updated Date
    11.04.19
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Associate Auctioneers
Porter & Co 20a Craven Terrace
London
W2 3QH
Stephen Porter 0207 706 9686stephenporter@porterco.co.uk
Seller's Solicitors
WGS Solicitors 133 Praed Street
London
W2 1RN
Jonathan Gerber 0207 723 1656jg@wgs.co.uk

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