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Lot 1

Freehold Commercial/Residential Investment
6 week completion

Situation

Occupying an excellent trading position on the main A123 Ripple Road, directly opposite a Lidl Supermarket and a huge development of 524 new homes currently under construction, plus a host of well established local businesses, and only a few minutes walk from the prime retail centre of Barking anchored by the Vicarage Field Shopping Centre.
Barking is a popular East London suburb lying between East Ham and Dagenham just north of the River Thames, enjoying easy access to the A406 North Circular Road and the A13 which leads directly into the City only 13 miles to the west.

Property

A terraced building comprising a Ground Floor Shop with internal access to a Flat at rear ground and first floor level.
There is a rear service road accessed via Sunningdale Avenue.

Accommodation

Ground Floor Shop
Gross Frontage 15'7"
Internal Width 14'4"
Shop Depth 26'2"
Built Depth 49'10"
Rear Kitchen/Diner 10'3" × 17'10"
External WC
External Store Building (Not Inspected)
First Floor Flat
2 Bedrooms, Living Room, Bathroom/WC
(GIA approx. 600 sq ft)

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to J C Patel & H J Patel t/a Barking News Centre (Convenience Store and Off-Licence) for a term of 15 years from 29th September 2013 at a current rent of £15,750 per annum exclusive.

Valuable Rent Review 2023

Note 1: The lessees have been in occupation for almost 25 years.

Note 2: There is potential to extend at the rear and create a separate access to the flat in order to make it self-contained, subject to planning.

Enquire about this lot:

JOINT AUCTIONEER:
Andrew Caplin Commercial Ltd
Tel: 01708 731 200 Ref: Andrew Caplin
info@ac-commercial.com

*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.

113 Ripple Road, Barking, Essex IG11 7NY