Substantial double retail units with two self contained Mainsonettes.
Retail Tenant Trading as Pharmacy until 2029
Situated in a Busy East London suburb.
Potential to reconfigure or extend the residential upper parts (Subject to Consents)
VAT Free Investment
The property is held in a recently formed Single Purpose Vehicle (SPV) which is available and can result in significant Stamp Duty Savings.
Lot 12
Auction 5th May 2021
Rent £127,400 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
6 miles East of the City of London
4 miles north east of London Docklands
2.5 Miles East of Stratford and the Olympic Park
Roads
A406 North Circular Road, A13, M25
Rail
East Ham Underground Station
(District Line)
Air
London City Airport. London Southend Airport. London Stansted Airport, London Heathrow Airport
Situation
East Ham is a busy and popular East London residential suburb. The property is situated on the east side of the vibrant High Street North between Lathom Road and Clements Road. High Street North is the town's main commercial and retailing thoroughfare. Nearby occupiers include Greggs, State Bank of India, Wilko, Ladbrokes and an eclectic mix of local traders.
Tenure
Freehold.
Location
Miles
6 miles East of the City of London
4 miles north east of London Docklands
2.5 Miles East of Stratford and the Olympic Park
Roads
A406 North Circular Road, A13, M25
Rail
East Ham Underground Station
(District Line)
Air
London City Airport. London Southend Airport. London Stansted Airport, London Heathrow Airport
Situation
East Ham is a busy and popular East London residential suburb. The property is situated on the east side of the vibrant High Street North between Lathom Road and Clements Road. High Street North is the town's main commercial and retailing thoroughfare. Nearby occupiers include Greggs, State Bank of India, Wilko, Ladbrokes and an eclectic mix of local traders.
Tenure
Freehold.
Description
The property is two mid terraced mix use buildings with the ground floor combined to form a large single retail unit. The upper parts comprise two 4 room self contained maisonettes that are accessed from the rear passageway via Clements Road. Each maisonette benefits from a rear terrace. The residential upper parts may benefit from being reconfigured or extended (Subject to Consents)
VAT
VAT is not applicable to this lot.
Completion Period
Long Dated Completion Available.
EPC
See legal pack.
Description
The property is two mid terraced mix use buildings with the ground floor combined to form a large single retail unit. The upper parts comprise two 4 room self contained maisonettes that are accessed from the rear passageway via Clements Road. Each maisonette benefits from a rear terrace. The residential upper parts may benefit from being reconfigured or extended (Subject to Consents)
VAT
VAT is not applicable to this lot.
Completion Period
Long Dated Completion Available.
EPC
See legal pack.
Tenancy & Accommodation
Building No.
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
150 to 152
Basement Ground
Ancillary Retail
78.10 sq m 213.02 sq m
(841 sq ft) (2) ( 2293 sq ft) (2)
Pharmacy Team Limited (CRN 07035691) (1)
20 years from 14th September 2009 until 2029
£95,000
14th September 2024
150A
First Second
Residential
4 Room Maisonette
Individuals
Assured Shorthold Tenancy for a term of of 2 years from 27/01/2017 Holding over.
£15,600 (3)
152A
First Second
Residential
4 Room Maisonette
Individuals
Assured Shorthold Tenancy for a term of 2 years from 27 / 01/2017 Holding over.
£16,800 (3)
Total Commercial Floor Area
291.12 sq m
(3,134 sq ft)
£127,400
(1) Pharmacy Team Limited was incorporated in 2009. (2) The floor areas stated above have been published by the Valuation Office Agency at www.tax.service.gov.uk/business-rates-find/valuations/15769549000 (3) As to the residential tenancies, the rents stated above have been annualised. (4) The property is held in a recently incorporate Single Purpose Vehicle (SPV) the purchase of which is available and can result in a significant Stamp Duty Savings.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
