Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 18

IN SAME FAMILY OWNERSHIP FOR 46 YEARS

VACANT RESTAURANT & UPPERS WITH POTENTIAL RESIDENTIAL USE

SITUATION

In this famous central London location, close to Aldgate East Underground Station (Hammersmith & City and District Lines) and the Whitechapel Art Gallery and under 300 yards to the City of London boundary. Directly opposite is the new Aldgate Place residential development which, when completed, will create 463 new homes.

PROPERTY

A late Victorian terraced building comprising a Ground Floor Restaurant with Basement and a Self-Contained 3 Storey Upper Part previously used as solicitors offices.

ACCOMMODATION

Ground Floor Restaurant
Gross Frontage 11'3"
Internal Width 6'6" widening to 9'0"
Shop Depth 33'2"
Built Depth 64'2" and rear cold store
Basement (with WC) Approx. 332 sq ft
First Floor Approx. 470 sq ft
Second Floor (with WC) Approx. 470 sq ft
Third Floor (with Bathroom/WC) Approx. 390 sq ft

VAT is NOT applicable to this Lot

FREEHOLD offered with VACANT POSSESSION

Note 1: Planning Permission was granted on 29/5/02 (now lapsed) for converting the existing upper part to 3 self-contained flats plus a new 4th floor flat with balcony.

Note 2: An offer has been received from a Dry Cleaners to lease the ground floor and basement for a term of 10 years (without breaks) at £30,000 p.a. exclusive with a 3 month rent-free period and a rent review at the end of the 5th year.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,000 plus VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

91 Whitechapel High Street, London E1 7RA