Freehold Retail and Residential Ground Rent Investment
The property is prominently situated on the south side of Steynton Avenue within a busy parade of shops, adjacent to Albany Park Railway Station, about 1.5 miles south-east of Bexley, offering excellent transport links to London and the South-East. Neighbouring occupiers include, Co-op Food, Domino's Pizza and a number of local traders and restaurants.
Freehold.
The property comprises two terraced buildings arranged as two separately let ground floor shops with a first floor flat let on a long lease. Street parking is available to the front of the property.
VAT is applicable to this lot.
Please note, the buyer will pay 1.5% +VAT of the purchase price towards the vendors costs in addition to the cost of the searches. Please see special conditions of sale.
Six Week Completion
See legal pack.
| Unit | Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|---|
| 34 | Ground | Retail | 22.20 sq m | (239 sq ft) | MUSTAFA EMIN & BAYRAM MEHMET t/a Bryants (a barber shop) | 15 years from 08/03/2021 until 07/03/2036 (1) | £7,000 | 08/03/2026 and 5 yearly thereafter |
| 36 | Ground | Retail | 44.20 sq m | (475 sq ft) | YASEMIN EMIN t/a (to be a Fish & Chip Shop) | 15 years from 03/11/2020 until 02/11/2035 (2) | £10,000 rising to £12,500 on 03/11/2023 | 03/11/2023, 03/11/2025 and 03/11/2030 |
| 34a | First | Residential | Flat | INDIVIDUAL | 99 years from 29/09/1981 | £50 | ||
| Total Commercial Area | 66.40 sq m | (714 sq ft) | £17,050 | |||||
(1) The lease provides for a tenant option to determine on 08/03/2024.
(2) The lease provides for a tenant option to determine on 03/11/2023.
If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.
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