November 2021: Wednesday 10 November 2021 - 9:00am
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    Key features

    • Investment Let at £42,900 per annum.
    • The commercial unit (operating as a café) is let on a 5 year lease from October 2020 producing £12,480 per annum.
    • 7 room HMO occupying the first and second floor is producing £30,420 per annum.
    • Development potential to add additional floor on the roof as well as add additional space/rooms at the rear of the property (subject to the requisite consents)
    • The upper floors would benefits from modernisation, which could potential increase the rental income.

    Description

    A 3 storey mid terrace property located on an established shopping parade. The property is arranged with a café on the ground floor along with a residential HMO on the two upper floors.

    The property has rear access from Ingal Road which leads through a passage way to the rear of 300 Barking Road - please refer to photos

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground Floor - Retail/Café space, serving space, Kitchen, 2 x WC'S - Approximately 558 sq ft (51.9 sq m)

    First Floor - Stair Case/Hallway, 3 x Bedrooms, Kitchen, WC - Approximately 627 sq ft (58 sq m)

    Second Floor - Stair Case/Hallway, 4 x Bedrooms, Bathroom/WC - Approximately 642 sq ft (60 sq m)

    Tenancy

    Ground Floor - Trading as F&T Coffee Shop

    • Let on a 5 year lease from October 2020
    • Let at £12,480 per annum

    Residential Upper Floors

    • 7 rooms of HMO - Let
    • Total £30,420 per annum

    Rent

    Total current rent £42,900 per annum

    Notes

    Please note the site areas provided are approximate. The photos and plans are for illustrative purposes only and may not reflect the exact boundary of the site. Prospective purchasers must rely upon 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

      Barking Road is a busy shopping and convenience high street in between Canning Town and Plaistow

      The property is located on the southern side of Barking Road between the junctions of Ingal Road and Jutland Road

      Canning Town Station is located approximately 0.6 miles down the road

      Transport

      Underground - Canning Town Station (Jubilee line - Services to Bank, Poplar, Canary Wharf and City Airport)


      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