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Lot 5

Freehold Commercial/Residential Investment
In same ownership since 1986
6 Week Completion

Situation

In this well known main road shopping location, very close to Dalston Junction Station and amongst multiples such as Subway, Tesco Express and Creams serving a densely populated residential area.

Property

A 19th Century building comprising a Deep Ground Floor Shop with Kitchen together with internal access to a Residential Upper Part on the first floor. In addition, the property includes an External Store and a Large Rear Yard.

Accommodation

Ground Floor Shop
Gross Frontage 20'6"
Internal Width 18'6"
Shop Depth 48'9"
Built Depth 74'9"
External Store 10'10" × 6'8"
Bathroom/WC
Rear Yard 48' Deep
First Floor Residential Upper Part
Room 1 10'10" × 20'7"
Room 2 10'10" × 14'3"

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Mr & Mrs Desai (Off Licence) for a term of 15 years from 15th April 2019 at a current rent of £23,000 per annum exclusive rising on the 15th April 2023 to £25,000 per annum.

Rent Reviews 2024 and 2029

Note: There is a Rent Deposit of £6,000 plus interest.

Enquire about this lot:

*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 £1,000 plus 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.

536 Kingsland Road, Dalston, London E8 4AH