Co-Op Convenience Store
105-105c Mungo Park Road
Elm Park
Greater London
RM13 7PP

Freehold Convenience Store and Residential Investment

  • Convenience Store Let to Co-op until 2037 (No Breaks)
  • 4 Self Contained Flats on the Upper Floors
  • Close to Elm Park Underground Station
  • 13 Miles East of Central London
  • Residential Rents Potentially Reversionary in 2022
  • Lot
    9
  • Auction
    04/Nov/2021
  • Rent
    £57,300 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    Supermarket
  • Auction Venue
    Live Streamed Auction
Important Update
  • Co-Op Convenience Store, 105-105c Mungo Park Road, Elm Park, Greater London, RM13 7PP
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
13 miles east of Central London
3 miles south of Romford
Roads
A12, A127, A13, M25
Rail
Elm Park Train Station
(District, Hammersmith & City Lines)
Air
London Stansted Airport,
London City Airport,
London Southend Airport,
London Heathrow Airport,
Situation

Rainham is popular suburb in the east London Borough of Havering situated approximately 13 miles east of Central London. Rainham benefits from excellent communications with the A12, A13 and M25 close by as well Elm Park Underground Station (District and Hammersmith & City Lines) providing fast commuter access to Central London.
The property is situated in a neighbourhood parade on east side of Mungo Park Road at its junction with Simpson Road serving a predominantly residential area.

Tenure

Freehold.

Description

The Property comprises a ground floor Convenience Store and 4 residential flats on the first and second floors. The flats are accessed separately from the rear of the property. Two of flats have been sold on long leases whilst two others, being 1 x one bedroom and 1 x two bedroom are let on leases until November 2022.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

Please see legal pack at www.acuitus.co.uk

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/
(Reversion)
105
and
105c
GroundConvenience
Store
160.41 sq m
(1,726 sq ft)
CHELMSFORD STAR
CO-OPERATIVE
SOCIETY LIMITED
(CRN IP00973R)(1)
25 years from
30/11/2011 on a
full repairing and
insuring lease
£36,900
(2)
30/11/2026
and 5 yearly
(2)
(29/11/2036)
105dFirstResidential
2 bedroom Flat
ELLIOT LEIGH
PROPERTY
MANAGEMENT
(CRN10984956)
2 years from 25th
November 2020
£11,400
(3)
(24/11/2022)
105eFirst
Second
Residential
1 bedroom Flat
ELLIOT LEIGH
PROPERTY
MANAGEMENT
(CRN10984956)
2 years from 25th
November 2020
£9,000
(3)
(24/11/2022)
105a
and
105b
First
Second
Residential
2 x Residential Flats
INDIVIDUALS999 years from
25/03/1990
Peppercorn 
Total Commercial Floor Area
160.41 sq m
(1,726 sq ft) (4)  £57,300 

(1) Chelmsford Star Co-Operative Society Limited (IP00973R) were set up in 1867 and currently operate from over 50 stores in East London and Essex. (www.chelmsfordstar.coop)
(2) As to the lease to Chelmsford Star Co-Operative Society Limited the Current Rent Reserved is £36,000 per annum exclusive, the lease provides for fixed rental increase to £36,900 per annum exclusive on 30/11/2021 and there after 5 yearly fixed rental increases of 2.5%.
(3) As to the residential rents stated above have been annualised. The current rents reserved under the terms of the lease are £950 per calendar month for the two bedroom flat is and £750 per calendar month for the 1 bed flat. The flats are currently let on a rental Guarentee scheme at rents below the current market rental value. The rent for the flats are potentially reversionary in November 2022. Potential purchasers must undertake independent advice on the current rental levels.
(4) The floor areas stated above are those published by the Valuation Office Agency (ww.voa.gov.uk)

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
    29.10.21
    File Size
    20 MB
    Login to View
  • Catalogue Page
    Updated Date
    15.10.21
    File Size
    861 KB
    View PDF
  • Site Plan
    Updated Date
    15.10.21
    File Size
    381 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
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
BBS Law 9th Floor, City Tower,, 40 Basinghall St
London
EC2V 5DE
Avi Barr 0204 505 8080abarr@bbslaw.co.uk

Useful Links

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