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    Key features

    • Freehold
    • Comprising retail and residential accommodation
    • Benefits from a substantial rear yard (approximately 4,000 sq ft) with demised alley entrance
    • Single-let for a term until 18/04/2033
    • Significant reversionary potential (next review 19/04/2027)
    • Investment Let at £17,000 per annum

    Description

    The property comprises a two storey building arranged as a retail unit at ground floor (trading as a tyre shop) and a 2-bed flat at the first floor. To the rear of the property is a substantial yard currently used as car-parking for a neighbouring automotive trader. The rear yard is access via an alley which is included in the demise of the property.


    The commercial element is EPC D and the residential element is EPC E. Please refer to legal pack.

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground Floor Retail - 1,075 sq ft / 99.9 sqm

    Ground Floor Covered Area - 309 sq ft / 28.8 sqm

    First Floor Residential - 484 sq ft / 45.0 sqm

    Total - 1,869 sq ft / 173.7 sqm

    Property includes a rear yard of approximately 4,000 sq ft (371.7 sqm)

    Tenancy

    The property is single-let to a private individual on a lease for a term until 18/04/2033. The lease is subject to 3 yearly rent reviews with the next review date being 19/04/2027.


    We understand the tenant currently sub-lets the retail, residential and rear yard to three separate sub-tenants, we have not had sight of these leases. A potential purchaser will have to rely on their own enquiries.

    Rent

    £17,000

    Notes

    Please note the approximate areas have been provided by the VOA/Vendor/EPC and the property has not been internally inspected by Savills. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site.


    We will not be undertaking viewings at this property.

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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.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      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

      The property benefits from being located less than a kilometre from the retail and leisure offerings in Romford town centre.

      Transport

      The property is located a 10 minute walk from Romford Station (Elizabeth Line, Overground and greateranglia)

      Legal documents

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      EPC rating

      The EPC rating for this property is D

      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.

      Addendums