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
    24/Sep/2021
  • Rent
    £23,700 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 169 South Street, Romford, Greater London, RM1 1PS
  • Expand
  • Photos
  • Map

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

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.

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

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
GroundRetail
67.72 sq m
(729 sq ft)
KARINAS
DIAMOND
LIMITED
10 years from
04/06/2021 until
03/06/2031 (1)
£23,50003/06/2025 and
four yearly
thereafter
FirstRetail
-
(-)
INDIVIDUAL125 years from
08/12/2014
£100-
SecondResidential
-
(-)
INDIVIDUAL125 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 £1,000 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

  • Catalogue Page
    Updated Date
    03.09.21
    File Size
    788 KB
    View PDF
  • Site Plan
    Updated Date
    03.09.21
    File Size
    926 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

Contacts

Acuitus
George GoucherGeorge Goucher +44 (0)20 7034 4860 +44 (0)7513 610 710george.goucher@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Parry Law 12-14 Oxford Street
Whitstable
Kent
CT5 1DE
Justine Wills 01227 276276Justine.Wills@parrylaw.co.uk

Useful Links

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