Lot 13
    Commercial Property
    Central House
    32-66 High Street, Stratford, London, E15 2PF
    Unsold, the last bid was £2,920,000. Please refer to Auctioneer for Reserve.
     
    Number 1
    A Substantial Recently Refurbished Mixed Use Investment. The Entire Ground Floor is Let to Barratt Homes Producing £158,000 per annum. The Upper Floors Comprise 193 Flats Sold Off on Long Leases Producing a Ground Rent Income of £35,000 per annum. There are Two Telephone Masts Let to Vodafone and Orange Producing £32,000 per annum. Total Combined Income of £225,000 per annum

    Description

    The property comprises a substantial purpose built block with ground floor office accommodation comprising offices and 193 flats arranged over ground and eight upper floors. The block benefits from two passenger lifts.

    Tenure

    Freehold

    Location

    The property is situated on the north side of High Street close to its junction with Marshgate Lane with local shops and amenities nearby. The more extensive shopping facilities of Westfield Shopping Centre as well as the Olympic Park are easily accessible. Transport links are provided by Pudding Lane DLR as well as Stratford DLR, Underground, Overground and Mainline rail stations.

    Exterior

    The property benefits from extensive car parking

    Note (2nd Column)

    S5(b) Notices have been served under the Landlord & Tenant Act 1987 and the leaseholders have not reserved their rights.

    Note (3rd Column)

    There is potential to redevelop the ground floor to residential upon expiry of the tenancy (subject to obtaining all necessary consents)

    Viewing Details

    Please refer to us directly on: 0207 625 9007

    Bold Black Text

    Total Current Rent Reserved £225,000 per annum

    Addendum

    One of the S5(b) Offer Notices is included in the legal pack by way of an example. All of the remainder of the notices are available upon request and will be given to the buyer on a disk upon exchange.

    Accommodation & Tenancies Schedule

    Property Tenant Terms of Tenancy Current Annual Rent
    Ground Floor Offices Barratt Homes Ltd (1) 15 year FRI lease from March 2004. 5 yearly reviews. Next review due in 2014 £158,000
    193 Flats Individuals Each flat is subject to a 999 year lease £35,000
    Wall Mounted & Roof Antennae Orange Plc 20 years from 4/2/08. 5 yearly reviews £15,000
    Wall Mounted & Roof Antennae Vodafone Ltd 20 years from Feb 2003. 5 yearly reviews £17,000
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    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.

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