169 South Street Romford Greater London RM1 1PS

169 South Street
Romford
Greater London
RM1 1PS

Freehold Retail and Residential Ground Rent Investment

Shop let to Karina's Diamond Limited t/a Karina's Diamond
New 10 year lease from June 2021 (subject to option)
Prominent location opposite Lidl, close to McDonald's and 100m from Romford Station
Benefits from New Crossrail/Elizabeth Line from Romford

Lot
24
Auction
24th September 2021
Rent
£23,700 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Retail and Residential Ground Rent Investment

Shop let to Karina's Diamond Limited t/a Karina's Diamond
New 10 year lease from June 2021 (subject to option)
Prominent location opposite Lidl, close to McDonald's and 100m from Romford Station
Benefits from New Crossrail/Elizabeth Line from Romford

Lot 24
Auction 24th September 2021
Rent £23,700 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 7 miles south-west of Brentwood; 15 miles east of London
Roads: A12, M25
Rail: Romford (Overground, TFL, & GreaterAnglia)
Air: London City Airport

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 South Street, forming part of Station Parade, approximately 100m from Romford Station which will benefit from the new Crossrail/Elizabeth Line, which has resulted in substantial investment and development recently within the area. Nearby occupiers include Lidl, which is located opposite the property, McDonald's, MyDentist, Londis and various independent shops, cafe's and restaurants.

Tenure

Freehold.

Location

Miles: 7 miles south-west of Brentwood; 15 miles east of London
Roads: A12, M25
Rail: Romford (Overground, TFL, & GreaterAnglia)
Air: London City Airport

Situation

Tenure

Freehold.

Description

The property comprises a three storey building, arranged as a newly fitted ground floor shop with self contained residential accommodation on the upper parts, let on long leases.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises a three storey building, arranged as a newly fitted ground floor shop with self contained residential accommodation on the upper parts, let on long leases.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground	Retail	67.72 sq m	(729 sq ft)	KARINAS DIAMOND LIMITED	10 years from 04/06/2021 until 03/06/2031 (1)	£23,500	03/06/2025 and four yearly thereafter
First	Retail	-	(-)	INDIVIDUAL	125 years from 08/12/2014	£100	-
Second	Residential	-	(-)	INDIVIDUAL	125 years from 08/12/2014	£100	-

(1) The lease provides for a tenant option to determine on 03/06/2026.
NB: The seller has served notices on the residential tenants, pursuant to section 5B of the Landlord & Tenant Act 1987.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.