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
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Executors
  • Expand
  • Photos
  • Map

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

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
  • 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

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.

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

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)

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

Property Documents

  • Brochure
    Updated Date
    14.03.22
    File Size
    5 MB
    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 060 519john.mehtab@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
Harold Benjamin Solicitors Hygeia Building, 66-68 College Road
Harrow
Middlesex
HA1 1BE
020 8864 7530
Varsha Sood 020 8872 3028varsha.sood@haroldbenjamin.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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