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Lot 24 - 374 Kingsland Road, Hackney, E8 4AA

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FREEHOLD COMMERCIAL INVESTMENT & 2 REVERSIONARY GROUND RENTS

Guide price: Sold Prior *

Auction Date

Thursday, 8th February 2018 11:00am

Location & Description

An end of terrace property comprising 3 shops (one of which includes a small upper part) plus a self-contained flat above.
Forming part of a local parade on the east side of Kingsland Road (A10), at the junction with Glebe Road/Middleton Road, about ½ mile from Kingsland shopping centre and within ¼ mile of Haggerston over ground station.

Accommodation

374B: 450 sq ft (42 sq m), WC
Let on a repairing and insuring lease to Razaul Karim (Baker - Tenant Profile: www.carameltart.co.uk) for 20 years from 19.08.2010 at £11,500 p.a. Rent reviews 2015 (outstanding) & 5 yearly.
374 (Not inspected - Based on VOA): 88 sq ft (8.2 sq m)
Let on a repairing and insuring lease to Allan Baudoin (Bootmaker - Tenant Profile: www.allanbaudoin.com) for 5 years from 30.10.2017 at £3,640 p.a.
374A (Tailoring shop & upper): Sold on a 99 year lease (less 10 days) from 29.09.1986 (about 68 years unexpired) at a ground rent of £50 p.a.
First & Second Floor Flat: Sold on a 125 year lease from 28.07.1981 (about 88½ years unexpired) at a ground rent of £50 p.a.

EQUIVALENT TO £15,240 p.a. INCLUDING 2 REVERSIONARY GROUND RENTS

EPC Rating

374B: F

Result

Sold Prior to auction, for an undisclosed amount

Addendum

The property is within the Kingsland Conservation Area.

* 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.