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
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.
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 £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
