FREEHOLD COMMERCIAL INVESTMENT PLUS GROUND RENTS
Guide price: £225,000 - £235,000
Location & Description
A three storey end of terrace property comprising an estate agents, mini-cab office and two flats. Located on the north side of Barking Road (A124) at the corner with Croydon Road between Hermit Road and Balaam Street, just north of Newham Way (A13) and within ½ mile of Canning Town Station (DLR).
281 Ground Floor: Let on a repairing and insuring lease to M Jahagir for 6 years from 01.08.2011 at £8,000 p.a.
281A Ground Floor: Let on a repairing and insuring lease to Spicer Haart Estate Agents Limited for 5 years from 01.01.2014 at £9,000 p.a.
281B First Floor: Sold on a 189 year lease from 29.09.1986 at a peppercorn ground rent.
281C Second Floor: Sold on a 99 year lease from 05.05.1987 (thus having 70 years unexpired) at £50 p.a.
The 2014 rent review for the mini cab office is outstanding.
EQUIVALENT TO £17,050 p.a.
Sold for £245,500.
There are NEW special conditions as the car wash part of the property is not included in the sale.