August 2021: Wednesday 04 August 2021 - 9:30am
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    Key features

    • A large mid terrace building arranged as a Subway retail unit
    • Let at £24,500 per annum with October 2019 rent review outstanding
    • Separate rear entrance to three self contained one bedroom flats each let on an assured shorthold tenancy on the upper floors
    • One bed room maisonette let on an assured shorthold tenancy in a rear converted former stable mews building
    • Total current rent £51,200 per annum
    • Located in a prime retail position near multiple traders and station
    • Investment

    Description

    A large mid terrace building arranged as a well presented ground floor shop trading as a Subway with separate rear entrance to three self contained flats on the upper floors and a rear marionette in a converted former mews stable building.

    The flats and marionette have double glazing and independent gas central heating.

    Additional information

    Tenure

    Freehold.

    Accommodation

    Ground Floor - Shop gross frontage approximately 17ft 9' Shop built depth approximately 74ft 9'


    First Floor Flat (9A) - Entrance Hall, Reception Room, Bedroom, Kitchen/Dinner, Bathroom/WC

    Second Floor Flat (9B) - Entrance Hall, Reception Room, Bedroom, Kitchen/Dinner, Bathroom/WC

    Third Floor Flat (9C) - Entrance Hall, Reception Room, Bedroom, Kitchen/Dinner, Bathroom/WC


    Ground Floor Rear Building (9D) - Reception Room/Kitchen

    First Floor Rear Building (9D) - Bedroom, Bathroom/WC

    Tenancy

    Ground Floor Shop - Let to Subway Realty Limited on a lease for a term of 11 years from 24th October 2014 at a rent of £24,500 per annum.

    Rent Review every 5 years. October 2019 Rent Review outstanding


    First Floor Flat (9A) - 3 month assured shorthold tenancy from 1st May 2019 at a rent of £500 per calendar month

    Second Floor Flat (9B) - 3 month assured shorthold tenancy from 1st may 2019 at a rent of £550 per calendar month

    Third Floor Flat (9C) - 3 month assured shorthold tenancy from !st May 2019 at a rent of £650 per calendar month


    Rear Building (9D) - We are advised let on an assured shorthold tenancy at a rent of £525 per calendar month


    Total Current rent £51,200 per annum


    Rent

    £51,200 per annum
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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.

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      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

      Well located in the main retail center of Forest Gate just north of the junction of Woodgrange Road (A114) and Romford Road (A118)

      Prominent national retailers including Iceland, Betfred, Poundland, Tesco Express and a Post Office are all close by.

      The retail center serves a well populated surrounding residential area.

      Forest Gate train station and local bus routes are both conveniently available.

      The leisure areas of Wanstead Park are nearby

      Easy access to the A406 North Circular Road, A12 and A13 provides good road links.

      Transport

      Overground - Wanstead Park

      National Rail - Forest Gate

      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.

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