92-94 North Street
Romford
Greater London
RM1 1DA

Prominent Retail Investment

  • Let to tenant trading as Romford International Food
  • New 15 year lease from March 2021 (no breaks)
  • Forms part of recently completed mixed use development
  • Prominent location on the edge of Romford Town Centre and 0.5 miles from Romford Station
  • VAT-free Greater London Investment
  • New Crossrail/Elizabeth Line from Romford
  • Lot
    21
  • Auction
    16/Jun/2021
  • Rent
    £38,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £450,000+
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 92-94 North Street<br>Romford<br>Greater London<br>RM1 1DA
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  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
13 miles north-east of the City of London
Roads
A12, M25
Rail
Romford
Air
London City
Situation

Romford is a popular commuter town approximately 13 miles north-east of the City of London with excellent communication links via the A12, M25 and by rail (Overground, TFL, & GreaterAnglia). The property is located in a prominent position on the east side of North Street (A125), close to its junction with St Edwards Way and Angel Way. Nearby occupiers include Papa John's, HSH Solicitors, Matalan and various independent retailers.

Tenure

Long Leasehold. 999 years from 22/12/2020 at a peppercorn rent.

Description

The property comprises a ground floor shop only, forming part of a recently completed mixed use development.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

C. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReviews
GroundRetail
198.81 sq m
(2,140 sq ft)
INDIVIDUAL (1)
t/a Romford
International Food
15 years from
26/03/2021 until
25/03/2036
£38,000 (2)26/03/2026
and 5 yearly
thereafter
Total
198.81 sq m
(2,140 sq ft)
  £38,000 

(1) A 6 month rent deposit is held by the Vendor.
(2) Under the terms of the lease, the tenant benefits from 3 months rent free from the start of the lease until June 2021, and then half rent until March 2022. The Vendor has agreed to top up the completion monies so that the property effectively produces £38,000 pa from completion of the sale until the end of the rent free period - please see Special Conditions of Sale.

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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    10.06.21
    File Size
    20 MB
    Login to View
  • Catalogue Page
    Updated Date
    27.05.21
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    27.05.21
    File Size
    717 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Ezran Law Churchill House, 120 Bunns Ln, Mill Hill
London
NW7 2AS
Jonathan Zeckler 020 3114 2100info@ezranlaw.co.uk

Useful Links

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