Home » Property Search » Auctions » 09/02/17 » Victoria Tavern, 28 High Street, Plaistow, E13 0AJ

Lot 26 - Victoria Tavern, 28 High Street, Plaistow, E13 0AJ

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LEASEHOLD COMMERCIAL INVESTMENT WITH PLANNING PERMISSION

Guide price: £300,000 plus *

Auction Date

Thursday, 9th February 2017 11:00am

Location & Description

A detached two storey property comprising a ground floor public house, basement store and first floor manager's flat. On the south side of the High Street, a short distance from Plaistow underground station (District line and Hammersmith & City line) and about 1½ miles from central Stratford and Westfield.

Accommodation

Ground Floor Pub: 989 sq ft (92 sq m) plus ladies & gents WCs, rear parking
Basement Store: 894 sq ft (83 sq m)
First Floor Manager's Flat: 4 rooms, kitchen, bathroom, 2 sep WCs
Entirely let on a repairing and insuring lease to P D Wood (by assignment) for 30 years from 08.05.1990 at a rent of £20,000 p.a. Rent deposit held of £5,000. The lease is free of tie.

Lease Details

99 Years from 09.03.1967 (about 49 years unexpired) at a ground rent of £325 p.a.

EQUIVALENT TO £20,000 p.a. WITH PLANNING PERMISSION

PLANNING

Planning permission granted by L.B. Newham on 09.11.2016 (Ref: 16/01992/FUL) for demolition of Victoria Tavern and erection of a new four storey residential development consisting of 8 units (1x1 bed, 3x2 bed and 2x3 bed flats (1 being a duplex) and 1x2 bed townhouse and 1x3 bed townhouse) with provisions for 16 secure cycle spaces and refuse/recycling facilities. A CIL will be chargeable on this development.

EPC Rating

E

Property Features

  • Equivalent £20,000 p.a.
  • Planning Permission Granted for Residential Development
  • Close to Plaistow Underground Station
  • VAT Payable (TOGC may apply)

Result

Sold for £405,000

Addendum

Title plan takes priority over that in the catalogue. There are NEW special conditions as the tenancy schedule has been slightly amended.

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.

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* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.