August 2020: Tuesday 25 August 2020 - 10:00am
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    Key features

    • Central location close to Canary Wharf
    • Income producing investment
    • Long term potential for change of use* subject to consents
    • Sought after residential area


    Description

    A retail unit over ground and basement levels forming part of a prominent mixed use corner building. The property benefits from a kitchenette, WC and has an electronic roller shutter. Approximate areas:

    Ground floor shop (inc kitchenette) 48.4 sq m (521 sq ft)

    Basement 30.2 sq m (326 sq ft)

    WC

    Total 78.6 sq m (847 sq ft)


    Additional information

    Tenure

    Leasehold. Held on a 999 year lease from 01/09/1980. Ground rent a peppercorn

    Tenancy

    Let to an individual on a 5 year lease from 06/11/18 at a rental of £18,000 per annum. The landlord holds a three month rent deposit. *A concessionary rent has been agreed at 50% of the passing rent to expire at the end of Q3, further details are available in the legal pack

    Planning

    *It is considered that there may be potential in the long term for a change of use, planning permission and landlords consent will be required - interested parties must rely on their own enquiries in this regard.

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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.

      Local information

      Situated in a central and fashionable area close to the junction with Narrow Street

      Canary Wharf is less than half a mile to the east and provides extensive shopping amenities.

      Limehouse Basin is also within walking distance and provides many shops bars and restaurants.

      Recreation facilities can be found at Ropemakers Field

      Transport

      Limehouse (National Rail, DLR)

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      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