>
Auctions >
July 2023 18 July 2023 - 9:00am >
Lot 96
July 2023: Tuesday 18 July 2023 - 9:00am
Your Bid
Guide price
TBA
Hammer price
Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
-
View Virtual Tour
Key features
- ERV £485,286 p.a. (£34 per square foot)
- Residential Conversion Opportunity
- Total area approximately 16,000 sq ft
- Potential to increase income
- Conveniently located for Essex Road and Kingsland Road
- Unique Opportunity
- 6 week completion available
Description
A spilt level (ground and first floor) office development comprising fifteen office units ranging from, 595 sq ft to 1365 sq ft together with a dry cleaners which fronts Southgate Road. The offices form part of a residential development which was constructed in 2004.
Additional information
Accommodation
12 Southgate Road (Dry Cleaners) - 592 sq ft
Unit 4, 14 Southgate Road - 829 sq ft
Unit 5, 14 Southgate Road - 806 sq ft
Unit 6, 14 Southgate Road - 793 sq ft
Unit 7, 14 Southgate Road - 700 sq ft
Unit 9, 14 Southgate Road - 1240 sq ft
Unit 10, 14 Southgate Road - 1326 sq ft
Unit 11, 14 Southgate Road - 796 sq ft
Unit 12, 14 Southgate Road - 635 sq ft
Unit 13, 14 Southgate Road - 636 sq ft
Unit 14, 14 Southgate Road - 625 sq ft
Unit 15, 14 Southgate Road - 990 sq ft
Unit 16, 14 Southgate Road - 883 sq ft
Unit 17, 14 Southgate Road - 595 sq ft
Unit 18, 14 Southgate Road - 646 sq ft
Total: 14,287 sq ft
Communal areas: 2,115 sq ft
The seller has had plans drawn up for a coffee shop in the front entrance between Tescos and the Dry Cleaners subject to planning permission.
Tenancy
12 Southgate Road - Let for 18 years from 17.06.15 at a current rent of £19,800 p.a.
Unit 4, 14 Southgate Road - Let for 5 years from 5.10.19 at a current rent of £20,724 p.a.
Unit 6, 14 Southgate Road - Let for 5 years from 1.12.22 at a current rent of £24,000 p.a.
Unit 9, 14 Southgate Road - Let for 5 years from 28.02.19 at a current rent of £30,999.50 p.a.
Unit 12, 14 Southgate Road - Let for 5 years from 9.04.19 at a current rent of £13,970 p.a.
Unit 13, 14 Southgate Road - Let for 5 years from 1.07.19 at a current rent of 15,875 p.a.
Unit 15, 14 Southgate Road - Let for 5 years from 1.10.17 at a current rent of £22,800 p.a.
Unit 17, 14 Southgate Road - Let for 3 years from 19.10.19 at a current rent of 14,280 p.a.
Unit 19, 14 Southgate Road - Let for 5 years from 20.02.19 at a current rent of £34,125,50 p.a.
Planning
Planning consent granted 13th July 2023 for 5 units within
14 Southgate Rd to be converted to a mix of one and two bed apartments.Deemed consent on remaining 10 units within 14 Southgate Rd to be converted to a mix of one, two and three bed apartments.
-
View Virtual Tour