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Lot 18
673–675 Green Lane, Dagenham, Essex RM8 1UU

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Sold: £340,000

GROUND RENT INVESTMENT
ON BEHALF OF TRUSTEES
4 Week completion

SITUATION

Occupying a prominent position close to the junction with Waldergrave Road in this local shopping parade opposite Superdrug and amongst other multiples such as Coral, Budgens, Tesco Express, Santander and being less than a mile distance to Chadwell Heath Railway Station.
Dagenham is a densely populated residential area being approximately 3 miles south-east of Ilford and 3 miles south-west of Romford benefitting from good road links to the A406 North Circular and only 5 miles from London City Airport.

PROPERTY

Two mid terraced buildings created in the 1930's comprising 2 Ground Floor Shops with separate rear access to 2 Self-Contained Flats at first and second floor level. In addition, the property benefits from a rear service road and a rear Large Yard for parking of approx. 10/12 cars.

ACCOMMODATION

No. 673 - Ground Floor Shop (Not Inspected)
Gross Frontage 18'0"
Built Depth 44'9"
WC
No. 673a - Second Floor Flat (Not Inspected)
Believed to be 4 Rooms, Kitchen, Bathroom/WC

No. 675 - Ground Floor Shop
Gross Frontage 18'0"
Internal Width 16'9"
Shop Depth 31'9"
Built Depth 50'9"
WC/Shower
No. 675a - First Floor Flat
4 Rooms, Kitchen, Bathroom/WC (with gas c/h)

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Elfield Constructions Ltd for a term of 99 years from 24th June 1936 at a current rent of £90 per annum exclusive.

Valuable Reversion in approx. 18 years

Note: We understand from the Lessees that the shops are let at £10,000 p.a. and £11,000 p.a. and the flats are let on ASTs at £10,800 p.a. and £9,600 p.a.

JOINT AUCTIONEERS

Williamson Dace Brown
22 Cannon Hill, Southgate, London N14 6BY
Tel: 020 8886 4407 Ref: Ms Katherine Dace

*Please note:

RESERVE:The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE: Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.