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Lot 19 Withdrawn Prior
Refer

236 Cambridge Heath Road, Cambridge Heath, London E2 9DA

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Lot 19

Commercial Investment – Gross Yield 9.6%
6 Week Completion

Situation

Located at the junction with Bishops Way and occupying a prominent trading position directly opposite Cambridge Heath Rail Station being amongst a variety of local take-away and convenience store operators. In addition, the property is just a few doors away from The Green House which is a 48,255 sq ft fully-serviced award-winning eco-workspace.
Cambridge Heath is a popular vibrant area located under 2 miles north-east of the City of London.

Property

Forming part of an attractive corner building comprising a Ground Floor Coffee Shop with front and rear sections as well as internal access to a Basement.

Accommodation

Ground Floor Coffee Shop
Gross Frontage 19'0" (incl. splay)
Return Frontage 35'3"
Internal Width 16'11" (front section)
Built Depth 44'1"
Front Section Area Approx. 265 sq ft
Rear Section Area Approx. 160 sq ft
Plus Kitchen and WC
Basement (5'9" restricted head height)
Storage Area Approx. 260 sq ft

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 15th December 2017 at a peppercorn ground rent with a capped service charge at £850 p.a. rising by 3% p.a. until February 2025 excl. building insurance.

Tenancy

The property is let on an effectively full repairing and insuring lease by way of service charge (capped at £850 p.a. rising by 3% p.a. until February 2025 excl. building insurance) to Nkora Limited (with personal guarantor) as a Coffee Shop (having 5 branches - visit: www.nkora.co.uk) for a term of 20 years from 28th February 2017 at a current rent of £26,269.15 per annum exclusive rising by 3% p.a. compound.

Tenant's Break any time from February 2025 onwards, subject to 6 months prior notice.

Note 1: There is a £1,833.33 Rent Deposit held.

Note 2: The lease is outside s.24-28 of the L & T Act 1954.

Enquire about this lot:

Photo of Steven Grossman

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

Photo of Jonathan Ross

Jonathan Ross
020 8492 9449
jross@barnettross.co.uk

*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.