Lot 13
Commercial Property - 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.
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 |
Joint Agent
Additional Fees
Administration charge: £1,200 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.
View Details as PDFEnquire NowRegister to Bid
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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