June 2023: Wednesday 21 June 2023 - 9:00am
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    Key features

    • Investment let at £30,900 p.a. (8.82% GIY on guide)
    • Comprising of a lock up shop and 2 bedroom flat
    • Retail unit let on a new 20 year FR&I lease (no breaks) investment let at £16,500 p.a.
    • Current Ground floor tenant operates 3 other take away businesses
    • Commercial lease upwards only rent reviews every 5 years
    • Self contained 2 bed let on a guaranteed Rent Agreement for two years at £14,400 p.a. 
    • Possible future development potential to extend to the rear of the property (subject to the requisite consents and existing lease)
    • 8 week completion
    • VAT free investment

    Description

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    A mid terrace 2 storey property comprising of a retail shop operating as a takeaway and a self contained 2 bedroom flat on the 1st floor. The commercial unit has been recently fitted out and benefits from a rear yard. We have also been advised that the current tenant operates 3 other takeaway pizza business's. The property is situated on a busy and established shopping parade and has a wide range of local independent retailers.

    Additional information

    Tenure

    Freehold.

    Accommodation

    The property has not been internally inspected by Savills and the below details have been provided by the vendor


    Ground Floor:

    • Retail area, Kitchen, Walk in Fridge, WC & Rear yard
    • An approx. 67 sqm (721 sq ft)

    First Floor:

    • Entrance from the front and rear of the property
    • Two Bedrooms, Office, Kitchen, Bathroom/WC


    Tenancy

    172 Rush Green Road - Commercial unit

    • Let to private individual (TA Basil Pizzeria)
    • Current tenant operates 3 other pizza takeaway business's
    • 20 year FR&I lease from 2023
    • No tenant break options
    • 5 year rent reviews (upwards only)
    • Investment let at £16,500 p.a.
    • Rent deposit Held

    172A Rush Green Road - Flat

    • Let to All seasons Lettings & Management Ltd
    • Let on a 24 month contract
    • Rent review at 12 month of the contract

    Rent

    £30,900 p.a.

    Notes

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

      The property is located on the northern side of Rush Green Road and close to the junction with Dagenham Road.

      Romford Station is located an approx. 1 mile from the property

      Transport

      Romford Station - Elizabeth Line, Underground services

      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