Auction House London

Lot 97

Retail Property (high street) - Commercial Property 

Ground & Basement

408 Hackney Road, London, E2 7AP

Sold for £325,000

A Well Located Ground Floor & Basement Lock-Up Coffee Shop Let on an FRI Lease Producing £23,000 per annum.

Description

The property occupies a prominent corner position within an established parade of shops on the main high street with return frontage on Teesdale Close. The property is arranged as a ground and lower ground floor coffee shop measuring approximately 139 sq m (1,500 sq ft) and benefits from an A3 license.

Tenure

Long Leasehold. The property is held on a 999 year lease from 18th December 2015 (thus approximately 995 years unexpired).

Location

The property is situated in the popular East London area of Hackney amongst local shops and amenities. As well as numerous local established traders, nearby multiples include William Hill and The Days Hotel. Transport links are provided by Cambridge Heath overground station.

Accommodation

Lower Ground Floor
Customer Seating
Offices and Staff Room

Ground Floor
Shop Area
W.C.

Tenancy

The property is let on an FRI Lease for a term of 3 years commencing 26th March 2018 at a rent of £1,916.66 per month. The shop is trading as Residence Coffee and the tenant has requested a new 15 year lease with 3 year rent reviews.

Current Rent Reserved

Current Rent Reserved £23,000 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.

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their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction.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.

Enquire NowFinance AvailableStamp Duty Calculator
Open Site It is possible to visit the coffee shop during the normal opening times without making an appointment. For further enquiries, please contact Justin Chilton at justin@auctionhouselondon.co.uk
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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Enquire about Ground & Basement, 408 Hackney Road, London, E2 7AP

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