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Lot 2

Freehold Commercial/Residential Investment
In the same family ownership for over 28 years
6 Week Completion

Situation

In this established retail parade at the intersection of Clockhouse Lane and Collier Row Road, amongst multiples such as Savers, Costa Coffee, KFC, Greggs, Domino's and a host of independent traders.
This shopping centre serves the surrounding residential area approximately 1½ miles from Romford Town centre and 14 miles north-east of Central London.

Property

Forming part of a retail parade comprising a Ground Floor Shop with separate rear access via a communal balcony to a Self-Contained Flat on first and second floors. The property includes a rear concreted parking area accessed via a service road.

Accommodation

Ground Floor Shop
Gross Frontage	17'0"
Internal Width	16'6"
Shop Depth	38'6"
Built Depth	48'10"
WC
First & Second Floor Flat
4 Rooms, Kitchen, Bathroom/WC
GIA Approx. 780 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Shahan Ali (t/a Gadget Exchange) for a term of 15 years from 24th June 2012 at a current rent of £18,000 per annum exclusive.

Rent Reviews June 2017 & 2022 (both outstanding)

VIdeo TOUR

Click here to view the video tour of the Flat.

Note 1: No. 7/7a Clockhouse Lane is also being offered for sale in this Auction - see Lot 1.

Note 2: The flat is currently sub-let on an AST at a rental of £12,000 p.a. from 2021.

Note 3: There is a Rent Deposit of £4,500 being held.

*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.

9/9a Clockhouse Lane, Collier Row, Romford, Essex RM5 3PH