24 January 2024: Wednesday 24 January 2024 - 9:00am
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    Key features

    • Investment let at £16,500 p.a. (9.42% GIY on Guide)
    • Comprising of a ground floor lock up shop and self contained flat at first floor (sold off on long lease)
    • Commercial premise let on a new 5 year lease from September 2023 (no breaks)
    • There is large yard to the rear of the property which offers further development potential to extend the existing commercial space (subject to the requisite consents)
    • Current tenant occupies another premise on the parade
    • 3 month deposit held on account and personal guarantee on the lease
    • An approx. 78 metres from Roding Valley Station
    • VAT free investment
    • Completion 1st April 2024

    Description

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    The building is a mid terrace property and forms part of a local and established shopping parade. The property comprises of a lock up shop at ground floor and self contained flat at first floor level (sold off on long lease).

    There is large yard to the rear of the property which offers further development potential to extend the existing commercial space (subject to the requisite consents). The property can also be accessed via the rear.

    Nearby occupiers include a wide range of local and independent retailers.

    Additional information

    Tenure

    Freehold.

    Upper floor flat sold off on a long lease (189 years from 24th June 1976) at a peppercorn rent

    Accommodation

    Please refer to Accommodation and Tenancy schedule.

    Tenancy

    Please refer to Accommodation and Tenancy schedule.

    Rent

    £16,500 p.a.

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

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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

      Conveniently close to lovely recreation grounds at Buckhurst Hill and Knighton Wood, as well as local beauty spot Luxborough Lakes and Epping Forest a short distance away.

      Located by Roding Valley station on a small high street with shopping options.

      Local grocery stores within a walkable distance and larger stores a drive away.

      Road links via the nearby M11.

      Transport

      Underground - Roding Valley (Central Line).

      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