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Lot 2

Reversionary Ground Rent Investment
6 Week Completion

Situation

Located close to the junction with Winmill Road in this well-established parade, amongst such other multiples as William Hill, Lloyds Pharmacy and Co-op Food.
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

A mid-terraced building comprising a Ground Floor Shop with separate rear access via a service road to a Self-Contained Flat on the first and second floors. In addition, the property includes a 10ft deep front forecourt and there are double gates to a Private Rear Yard for Car Parking.

ACCOMMODATION¹
Site Depth 84'6” plus 10ft forecourt
Ground Floor Shop
Gross Frontage 19'0"
Internal Width 17'0"
Shop Depth 39'2"
Built Depth 67'0"
WC
First and Second Floor Flat
3/4 Rooms, Kitchen, Bathroom/WC

¹ Not inspected by Barnett Ross

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to S J Wren (sublet as a Mini Cab Office) for a term of 99 years from 29th September 1926 at a rent of £12.50 per annum exclusive.

Valuable Reversion in approx. 6½ years.

Note 1: No. 303 Wood Lane (shop & flat let separately) sold for £365,000 in July 2018.

Note 2: We understand the flat is sub-let on on AST at £8,640 p.a

*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.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

287 Wood Lane, Dagenham, Essex RM8 3NH