Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property was formerly a care home. It has been rebuilt to provide a brand-new facility arranged as 19 self-contained units plus games room, staff office, staff accommodation, library, meeting rooms and communal lounge.
Tenure
Freehold
Accommodation
The property comprises 19 self-contained units plus games room, staff office, staff accommodation, library, meeting rooms and communal lounge.
Gross internal area (GIA) approx. 6,696 sq ft (622 sq m)
Please refer to the Accommodation Schedule for a breakdown of the unit sizes
Tenancy
The entire property is let to One (Housing & Support) CIC on a lease for a term of 25 years commencing on the 21st November 2023, on full repairing and insuring terms with upward only annual rent reviews linked to CPI. The current passing rent is £225,155 per annum. The lease includes a landlord's break option on the 20th anniversary of the term exercisable upon six months’ written notice. The lease is contracted outside of the security of tenure provisions of Part II of the Landlord and Tenant Act 1954.
The property has a long-term nomination agreement with Havering Council who underwrite the rent for the first five years of the term.
Rent
Notes
Joint Auctioneer
Chaim Aziz
The Estate Office
M. 07970 824 292
T. 020 7266 8500
E. c.aziz@estate-office.com