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    Key features

    • High Yielding, Multi-Let, Mixed-Use Investment
    • Two Retail Units with Office Suites to the Upper Parts
    • Retail Unit Let to Coral on New 15 Year Lease
    • Retail Unit Let to Restaurant on Lease Expiring 10.01.2039
    • Upper Parts Used as Offices - Let to Four Tenants
    • Second Floor Vacant - Offering Asset Management and Development Potential (stp)
    • Potential to Convert Upper Parts to Residential (subject to consents)
    • Prominent High Footfall Pitch
    • Investment Let at £105,275 p.a. (9% GIY on Guide Price) with Vacant Second Floor

    Description

    The property comprises a high yielding, multi-let, mixed-use investment opportunity located in the heart of Chingford and benefitting from both asset management and development potential (subject to consents).

    Arranged as two ground floor retail units, with office suites to the first and second floors, the property is let to six tenants with the second floor office suite currently vacant and offering both asset management potential via letting, as well as potential to convert to alternative uses, including residential (subject to obtainiong the requisite consents).

    Unit 77 is let to Ladbrokes Betting & Gaming Limited on a new 15 year lease nad paying £29,375 per annum

    Unit 79 is let to Private Individuals trading as a restaurant on a 15 year lease expiring 10.01.2039 and paying £26,500 per annum.

    The upper parts are let to four tenants on rolling periodic tenancies and produce a total rent of £49,400 per annum.

    Please see the below tenancy schedule for more infornation.

    The second floor is currently vacant we consider offers asset management potential via letting, improving the rental income for the buildiing.

    Alternatively the second floor or all the upper parts could be converted to alternative uses, including residential (subject to the existing leases and any requisite consents).

    The property occupies a prominent corner pitch at the junction of Stanley Road and Station Road. Station Road comprises the principal retail amenity in Chingford and is the principal route for access to Chingford Station, approx 0.2 miles away. Nearby tenants include Caffe Nero, Greggs, Amazon Fresh, Costa, Boots and Tesco.

    Additional information

    Tenure

    Freehold

    Tenancy

    Please see the below tenancy schedule for more information.

    Rent

    £105,275 per annum
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      Accommodation / Tenancy Schedule

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      EPC rating

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      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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