Lot 27 details
REVERSIONARY GROUND RENT INVESTMENT
6 Week completion
Located close to the junction with Weylond Road in this well established parade amongst such multiples which include William Hill, Lloyds Pharmacy, Post Office, Co-Op Food and Day 1.
Dagenham is a densely populated residential area being approximately 3 miles south-east of Ilford and 3 miles south-west of Romford benefitting from good road links to the A406 North Circular and only 5 miles from London City Airport.
A mid terraced building comprising a Ground Floor Shop with separate front access to a Self-Contained Flat on the first and second floors. In addition, the property benefits from use of a rear service road and double gates to rear private yard (45' deep).
Ground Floor Shop
Gross Frontage 18'0"
Built Depth 38'0"
First and Second Floor Flat
Not Inspected - believed to be 3 Rooms, Kitchen, Bathroom/ WC
VAT is NOT payable in respect of this Lot
The entire property is let on a full repairing and insuring lease to V. P. Fraley, J. Hayes and A. M. Fraley (see Note) for a term of 99 years from 29th September 1926 at a current rent of £12.50 per annum exclusive.
Valuable Reversion in approx. 7½ years
Note: The shop has been sublet as a Barber and the flat is believed to be sublet on an AST.