Freehold Retail and Residential Ground Rent Investment
Shop let to Specsavers Optical Superstores Limited until June 2030 (subject to option)
Lease extended in June 2025
Tenant in occupation for at least 17 years
Prominent position at junction of High Street and North Street
Nearby occupiers include Sainsbury's, Boots, Holland & Barrett, Costa, Nando's, Starbucks, and PureGym
VAT free investment
Lot 1
Auction 18th September 2025
Rent £30,400 per Annum Exclusive
Status Available
Guide* £300,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
15 miles east of Central London
Roads
A124, A12,M25
Rail
Emerson Park (Overground), Upminster Bridge (District Line)
Air
London City Airport
Situation
Hornchurch is a popular East London suburb situated 15 miles east of Central London and 5 miles west of the M25 (J29). The property is prominently located on the north side of the busy High Street at its junction with North Street in the heart of Hornchurch. Nearby occupiers include Sainsbury's, Boots, Holland & Barrett, Costa, Nando's, Starbucks, and PureGym
Tenure
Freehold.
Location
Miles
15 miles east of Central London
Roads
A124, A12,M25
Rail
Emerson Park (Overground), Upminster Bridge (District Line)
Air
London City Airport
Situation
Hornchurch is a popular East London suburb situated 15 miles east of Central London and 5 miles west of the M25 (J29). The property is prominently located on the north side of the busy High Street at its junction with North Street in the heart of Hornchurch. Nearby occupiers include Sainsbury's, Boots, Holland & Barrett, Costa, Nando's, Starbucks, and PureGym
Tenure
Freehold.
Description
The property comprises a ground floor shop with two flats on the upper two floors accessed from the rear, both let on long leases.
VAT
VAT is not applicable to this lot.
Note
As to the residential flats, the tenants have been served notice pursuant to the Landlord and Tenant Act 1987.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor shop with two flats on the upper two floors accessed from the rear, both let on long leases.
VAT
VAT is not applicable to this lot.
Note
As to the residential flats, the tenants have been served notice pursuant to the Landlord and Tenant Act 1987.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground
Retail Ancillary
78.97 39.39
(850) (424)
SPECSAVERS OPTICAL SUPERSTORES LIMITED (1)
5 years from 24/06/2025 (2)
£30,000
First
Residential
-
-
INDIVIDUALS
125 years from 20/01/2012
£200
Second
Residential
-
-
INDIVIDUAL
125 years from 25/11/2011
£200
Total Approximate Commercial Floor Area
118.36
(1,274)
£30,400
(1) For the year ending 29/02/2024 Specsavers Optical Superstores Limited reported a turnover of £2,741,687,000, a pre-tax profit of £323,660,000 and a net worth of £239,593,000 (NorthRow). (2) The lease provides a tenant option to determine the lease on 24/06/2028 upon 6 months notice and subject to a break penalty of £7,500 if exercised. N.B The floor areas stated above were agreed with landlord & tenant at lease renewal.
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.
