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Floorplan
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    Key features

    • To be offered on Wednesday 28 February
    • Social impact investment secured upon a detached two storey building
    • Converted to 19 self-contained units plus further functional spaces
    • Approximately 622 sq m GIA (6,696 sq ft)
    • 25-year lease in favour of One (Housing & Support) CIC
    • Long term nomination agreement with Havering Council
    • Havering Council underwrite the rent for the first five years
    • FR&I terms and with upward only annual rent reviews linked to CPI
    • Current passing rent of £225,155 per annum
    • GIY 8.5% on guide
    • Located in the popular area of Hornchurch

    Description

    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.


    Aerial

    Additional information

    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

    £225,155 per annum

    Notes

    Joint Auctioneer

    Chaim Aziz

    The Estate Office

    M. 07970 824 292

    T. 020 7266 8500

    E. c.aziz@estate-office.com

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Accommodation / Tenancy Schedule

      Local information

      Alton House is ideally positioned in the heart of Romford. The town is located 16 miles to the north east of Central London, 15 miles to the south east of Enfield and a similar distance to the west of Basildon. The area enjoys excellent transport links via the M25, as well as the A12 which is a major arterial route in/out of London, as well as providing access into the affluent Essex catchment. The property is situated on Sunrise Avenue, accessed from Abbs Cross Lane. it is well located for the local and recreational amenities of Hornchurch and Emerson Park.

      Transport

      Alton House is ideally located in the popular area of Hornchurch some 0.7 miles from Hornchurch Station (District Line - approx. 45 mins to Tower Hill) and about 1.2 miles from Romford Station (Elizabeth Line - approx. 30 mins to Liverpool Street)

      Legal documents

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      EPC rating

      The EPC rating for this property is B

      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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