Units 1 - 10, Stanton Gate Mawney Gate, Romford Essex RM7 7HL

Units 1 - 10, Stanton Gate
Mawney Gate,
Romford
Essex
RM7 7HL

Freehold Office Investment

Comprises ten self-contained office units
Located some 500 metres from Romford town centre
Approximate site area of 0.318 hectares (0.786 acres)
Tenants include Nationwide Building Society, Weatherseal Holdings Ltd and Pegasus International Consultants Ltd
On-site car parking for approximately 38 cars

Lot
9
Auction
29th March 2012
Rent
£180,516 per Annum
Status
Withdrawn Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of R Stokely and R Haines as Joint LPA Receivers, Edward Symmons

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Freehold Office Investment

Comprises ten self-contained office units
Located some 500 metres from Romford town centre
Approximate site area of 0.318 hectares (0.786 acres)
Tenants include Nationwide Building Society, Weatherseal Holdings Ltd and Pegasus International Consultants Ltd
On-site car parking for approximately 38 cars

Lot 9
Auction 29th March 2012
Rent £180,516 per Annum
Status Withdrawn Post
Price
Sector
Office
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of R Stokely and R Haines as Joint LPA Receivers, Edward Symmons

Property Information

Location

Miles: 7 miles south-west of Brentwood 13 miles north-east of the City of London
Roads: A118, A12, M25 (Junction 28)
Rail: Romford Station (17 minutes to London Liverpool Street)
Air: London City Airport

Situation

The property is situated on the south side of Mawney Road which provides direct access to both the A118 and A12 (Eastern Avenue), some 500 metres from Romford town centre.

Tenure

Freehold.

Location

Miles: 7 miles south-west of Brentwood 13 miles north-east of the City of London
Roads: A118, A12, M25 (Junction 28)
Rail: Romford Station (17 minutes to London Liverpool Street)
Air: London City Airport

Situation

The property is situated on the south side of Mawney Road which provides direct access to both the A118 and A12 (Eastern Avenue), some 500 metres from Romford town centre.

Tenure

Freehold.

Description

The property comprises ten self contained office units within three separate buildings. The property benefits from 38 demised car parking spaces and a total site area of approximately 0.318 hectares (0.786 acres).

Note
This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receiver is not bound to accept the highest or any offer and are acting without personal liability.

VAT

VAT is applicable to this lot.

Viewings

There will only be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas.Telephone: +44 (0)20 7034 4857.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Viewings

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
1	Ground and First	Office	210.70 sq m	(2,268 sq ft)	CONNECTION ELECTRICAL & ALARM SERVICES LTD	5 years from 06/02/2008	£22,570	(06/02/2013)
2	Ground	Office	163.32 sq m	(1,758 sq ft)	WELCOME FINANCIAL SERVICES LTD	1 year from 21/02/2011 (1)	£22,850	(21/02/2012)
3	Ground	Office	(1,920 sq ft)	(965 sq ft)	WEATHERSEAL HOLDINGS LTD (t/a Zenith Windows)	15 years from 29/01/2003	£22,200 (2)	29/01/2008 and 29/01/2012 (29/01/2018)
4	Ground and First	Office	169.55 sq m	(1,825 sq ft)	EASTWAY CARE LIMITED	15 years from 10/10/2011 (3)	£17,280	10/10/2014 and 3 yearly thereafter (10/10/2026)
5	Ground and First	Office	134.70 sq m	(1,450 sq ft)	THE SHAW TRUST LIMITED	5 years from 12/01/2012 (4)	£14,000 (5)	(12/01/2017)
6	Ground	Office	156.80 sq m	(1,688 sq ft)	INDIVIDUALS (t/a Acumen Design Consultancy)	999 years from 25/03/2009	Peppercorn	(25/03/3008)
7	Ground	Office	89.63 sq m	(1,740 sq ft)	AXIOM PERSONNEL LTD	10 years from 24/02/2010 (6)	£15,750	24/02/2015 (24/02/2020)
8	Ground	Office	162.65 sq m	(1,750 sq ft)	NATIONWIDE BUILDING SOCIETY (7)	24 years from 29/09/1991	£20,976	(29/09/2015)
9 10	Ground and First Ground	Office	320.14 sq m	(3,446 sq ft)	EASTWAY CARE LIMITED	15 years from 17/12/2008 (8)	£34,390	17/12/2013 and 3 yearly thereafter (17/12/2023)
10	First	Office	97.55 sq m	(1,050 sq ft)	PEGASUS INTERNATIONAL CONSULTANTS LTD	6 years from 01/02/2010 (9)	£10,500	01/02/2013 (01/02/2016)
Totals			1,755.43 sq m	(18,895 sq ft)			£180,516

(1) Please note that the tenant is holding over. A new 1 year lease is currently being finalised. For further details please refer to the Auctioneers.
(2) The rental income for Unit 3 is £21,200 p.a.x. The tenants pay an additional £1,000 p.a.x. for the use of two parking spaces on site through a separate licence.
(3) The lease provides a tenant option to determine on 10th October 2014 and 3 yearly thereafter, subject to 6 months’ notice.
(4) The lease provides a tenant option to determine on 15th October 2014, subject to 6 months’ notice.
(5) The lease provides fixed rental increases to £15,000 p.a.x. on 12th January 2013 and to £16,000 p.a.x. on 12th January 2014.
(6) The lease provides a tenant option to determine on 23rd February 2015, subject to 6 months’ notice.
(7) The tenant has sublet the unit to the Shaw Trust Limited
(8) The lease provides a tenant option to determine on 16th December 2013 and 3 yearly thereafter, subject to 6 months’ notice.
(9) The lease provides a tenant option to determine on 31st January 2012, subject to 6 months’ notice.