700 Green Lane (A1083) Dagenham London RM8 1YX

700 Green Lane (A1083)
Dagenham
London
RM8 1YX

Freehold Retail and Residential Investment

On the Instructions of Executors
Comprises Self Contained Retail Unit and 2 x Self Contained Flats
Retail Unit Let until 2035 (subject to mutual option)
Prominent Position on Busy Arterial Route Between A12 and A13
Popular East London Suburb
VAT Free Investment
Close Proximity to M25 and M11

Lot
1
Auction
31st March 2022
Rent
£30,760 per Annum Exclusive
Status
Sold
Price
£480,000
Auction Venue
Live Streamed Auction
On Behalf of Executors

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Freehold Retail and Residential Investment

On the Instructions of Executors
Comprises Self Contained Retail Unit and 2 x Self Contained Flats
Retail Unit Let until 2035 (subject to mutual option)
Prominent Position on Busy Arterial Route Between A12 and A13
Popular East London Suburb
VAT Free Investment
Close Proximity to M25 and M11

Lot 1
Auction 31st March 2022
Rent £30,760 per Annum Exclusive
Status Sold
Price £480,000
Sector
High Street Retail, Residential
Auction Venue
Live Streamed Auction
On Behalf of Executors

Property Information

Location

Miles: 3 miles south-east of Romford, 6 miles east of Stratford, 7 miles east of the City of London, 12 miles north-east of Central London
Roads: A12, A13, A406 (North Circular Road), M25 (Junction 28, 29), M11 (Junction 12)
Rail: Goodmayes and Chadwell Heath Railway Stations, Becontree (District Line), Dagenham Heathway (District Line)
Air: London City Airport, London Heathrow Airport, London Gatwick Airport, London Southend Airport

Situation

Green Lane (A1083) is a busy aerial route from Ilford to Dagenham. The property is situated on the south side of Green Lane opposite its junction with Mayfield Road and adjacent to Goodmayes Park. Neighbouring occupiers include an eclectic mix of local independent retailers and cafes.

Tenure

Freehold.

Location

Miles: 3 miles south-east of Romford, 6 miles east of Stratford, 7 miles east of the City of London, 12 miles north-east of Central London
Roads: A12, A13, A406 (North Circular Road), M25 (Junction 28, 29), M11 (Junction 12)
Rail: Goodmayes and Chadwell Heath Railway Stations, Becontree (District Line), Dagenham Heathway (District Line)
Air: London City Airport, London Heathrow Airport, London Gatwick Airport, London Southend Airport

Situation

Tenure

Freehold.

Description

The property comprises an end of terrace mixed used building with self-contained retail accommodation on the ground floor and 2 x self-contained 1 bedroom flats on the upper two floors. The property benefits from 4 car parking spaces at the rear. The property may also benefit from being extended, subject to consents.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

Band C (Retail). Band D & E (Residential)

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

Band C (Retail). Band D & E (Residential)

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Reviews/(Reversion)
Ground and 2 x Car Parking Spaces	Retail	63.59 sq m	(684 sq ft)	EVERYCHILD SERVICES LIMITED (CRN 10483322) (1)	15 years from 14/12/2020 until 2035 (2)	£12,000	14/12/2025 and 2030 (14/12/2035)
First	1 Bedroom Flat	47.74 sq m	(513 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy 1 year from 17/11/2021	£9,960	(16/11/2022)
Second	1 Bedroom Flat	36.61 sq m	(404 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy 6 months from 14/08/2015	£8,400 (5)	Holding Over
2 x Car Parking Spaces	Car Park			INDIVIDUALS t/a N & S Auto Repairs	10 years from 5/11/2021 (3)	£400	04/11/2031
Total Approximate Floor Area		147.94 sq m	(1,601 sq ft) (4)			£30,760

(1) Everychild Services Limited was incorporated in 2016 and operates from Dagenham and South Woodford. (www.everychild.services/about)
(2) As to the ground floor retail unit the lease provides for a mutual option to determine the lease on 14/12/2030. The Seller is holding a rent deposit of £3,000.
(3) The 2 x Car Parking Spaces are occupied on a license that provides for an annual mutual option to determine subject to serving 3 months notice.
(4) The Residential floor areas stated above are Gross Internal Areas.
(5) As to the second floor the rent stated above has been annualised.

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.