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Lot 11

In same ownership since 1987

SITUATION

Located within this popular shopping centre being within 500 yards of Cambridge Heath Station (Overground) and 800 yards from Beth

PROPERTY

A late Victorian mid-terrace building comprising a Ground Floor Shop with internal access to Ancillary Accommodation on the first floor. There is a lessee's Freezer in the rear yard.

Accommodation

Ground Floor Shop
Gross Frontage    16'1"
Internal Width    14'0"
Shop Depth    34'10"
Rear Store    6'0" - 7'6"
First Floor Ancillary
1 Room    14'1" - 22'0"
Bathroom/WC    8'3" - 12'1"

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to H. Ince as a Grocer/Off Licence for a term of 20 years from 17th December 2003 at a current rent of £22,500 per annum exclusive (Valuable Reversion December 2023).

Note: On expiration of the lease there is Development potential to convert and add residential to the upper part, subject to obtaining possession and the necessary consents. The upper part of the adjoining property (No. 401) has been extended and converted into a 1,085 sq ft 2 bed maisonette with a roof terrace and recently sold for £720,000 (Source: Savills).

*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 £1,500 including 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.

399 Hackney Road, Hackney, London E2 8PP