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Lot 11 Click here for addendum

Commercial Investment – Gross Yield 12%
6 Week Completion

Situation

Located at the junction with Smart Street in this well established parade, amongst such multiple retailers as Betfred, Simply Fresh and a Post Office and serving the immediate surrounding residential population.
Bethnal Green lies approx. 1¾ mile east of the City of London and 2 miles north-west of Canary Wharf with easy reach of Bethnal Green Underground Station (Central Line).

Property

Forming part of a parade comprising a corner Public House on the ground floor and basement.

Accommodation

Ground Floor Public House
Gross Frontage incl. Splay and Return 50'0''
Internal Width 32'2”
Pub Depth 39'3”
Built Depth 48'0'' (max)
Area Approx. 1,122 sq ft
Plus 3 WCs
Basement
Area Approx. 1,225 sq ft

Total Area Approx. 2,347 sq ft

VAT is applicable to this Lot

Tenure

Leasehold for a term of 125 years from 25th December 1988 (thus having approx. 89½ years unexpired) at a peppercorn ground rent.

Tenancy

The entire property is let on an effectively full repairing and insuring lease to Daniel and Mitch Limited as a Public House for a term of 15 years from 27th October 2023 at a rent of £30,000 per annum exclusive (see Note 1).

Rent Reviews October 2028 and 3 yearly.

Tenant's Break October 2028

Note 1: The rent is currently £27,000 p.a. rising to £30,000 p.a. in October 2026 and the Vendor will make up this rent shortfall on completion.

Note 2: There is a £6,750 Rent Deposit held.

*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.

Angel & Crown, 170 Roman Road, Bethnal Green, London E2 0RY