Auction House London

Lot 73

Commercial Property - Commercial Property 

245 Wood Street

Walthamstow, London, E17 3NT

£500,000+

Guide Price (plus fees)

A Ground Floor Commercial Unit Let to A Nursery and a Rooftop Telephone Mast Producing £47,000 Income Per Annum (Reflecting a Gross Initial Yield of 9.4%)

Description

The property comprises a ground floor nursery situated within a purpose built block arranged over ground and four upper floors

Tenure

Long Leasehold. The property will be held on a new 999 year head lease upon completion.

Location

The property is situated on a mixed use road close to local shops and amenities. The open spaces of Hollow Forest are within easy reach. Transport links are provided by Walthamstow Central (Victoria Line) and Wood Street Overground Station.

Accommodation

Ground Floor
Nursery Classroom
Kitchen
Kitchenette
Community Hall
Community Hall WC
Community Hall Kitchenette
WC
Pupils WC

Tenancy

The property is subject to an Commercial Lease for a term of 20 years commencing September 2022 at a rent of £15,000 per annum. The Tenants also have a separate agreement in place with the Landlord for works already carried out for a repayment of £15,000 per annum for the remainder of the term.

Additionally there is a Lease Agreement for a Rooftop Telegraph Mast with Cornerstone Telecommunications Infrastructure Ltd for a term of 20 years commencing November 2021 at a rent of £17,000 per annum.

Buyers should refer to the legal pack for more information.

Current Rent Reserved

Current Rent Reserved £47,000 per annum

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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There are no internal viewings
For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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