LONG LEASEHOLD COMMERCIAL INVESTMENT
Guide price: Sold Prior *
Monday, 2nd October 2017 11:00am
Location & Description
Forming part of a converted warehouse building comprising ground floor commercial space arranged mainly as offices plus labs and warehouse storage. The property also benefits from the use of 2 car spaces.
Situated north of Tudor Road and south of Well Street (from where the property has vehicular access) and immediately east of Mare Street. London Fields mainline station and public open space are within ¼ mile, Broadway Market is within ½ mile and the property lies about 2 miles from Silicon Roundabout and the City fringe.
ACCOMMODATION (Details provided by seller)
GIA: 4,725 sq ft (439 sq m)
Let on repairing and insuring lease to Formformform Ltd for 10 years from 09.01.2017 at £113,400 p.a. Rent Review 24.12.2021. Tenant's break 31.12.2021. Rent deposit held (£12,500). Tenant Profile: www.sugru.com
999 years from 01.03.2017 at a peppercorn
1. We are advised by the seller that the tenant has been in occupation since 2011 under a previous tenancy.
2. The tenant also occupies the adjoining warehouse (under separate ownership).
3. The provisions of sections 24-28 of the Landlord & Tenant Act 1954 (security of tenure) are excluded in relation to the tenancy.
4. Head lease will have Freeholder consent for Residential use and otherwise subject to all other consents.
EQUIVALENT TO £113,400 p.a.
- Long Leasehold Commercial Investment
- Equivalent £113,400 p.a.
- Close to London Fields
Sold Prior to auction
* 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.