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Lot - 471 - 473 Bethnal Green Road, Bethnal Green, London, E2 9QH

Guide Price* £450,000

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Property Type
Mixed Use
Tenure
Freehold
Type
Commercial
Bidder Security Deposit
£3,500*

Property Summary

  • On the instructions of the Administrators
  • Freehold retail/residential building
  • Part vacant possession
  • Two retail units (No.471 let, No.473 vacant)
  • Four flats arranged over the upper floors each sold on separate long leases
  • Producing £22,800 per annum (plus vacant retail unit No. 473)

Freehold retail/residential building producing £22,800 per annum. Part Vacant Possession

Description

The property comprises two adjoining three storey buildings of brick construction arranged as two ground floor retail units with basement, and four self-contained flats above arranged over the first and second floors with a separate front entrance from Bethnal Green Road.

The retail units benefit from full height glazed frontages and roller shutter doors for security.

Location

Bethnal Green is approximately 3.5 miles north-east of central London in the London Borough of Tower Hamlets, bordering Shoreditch one mile to the west, Hackney a similar distance to the north and Whitechapel to the south. Bethnal Green underground station (Central Line) is a short walk from the property, it is situated approximately 50m to the south-east of the property.

The property is situated on the north side of a busy retail pitch in the heart of Bethnal Green, opposite the junction with Gales Gardens. Nearby occupiers include McDonald’s, Iceland and BetFred.

Tenancy Schedule

Accommodation & Tenancy

Address Floor Use Sq M Sq Ft Tenant Tenancy Rent (£ pa)
No. 471 Ground
Basement
Retail
Storage
62.90
72.70
745
782
Orchid Private Company Ltd 10 years from 2/10/2020 £22,000
No. 473 Ground
Basement
Retail
Storage
94.60
52.20
1,018
562
Vacant
Nos. 471-473 First
Second
Residential Four flats Individuals 125 years from 24/6/2000 £800
Total £22,800
The retail floor areas are stated as Gross Internal Area (GIA).

Note

Section 5B notices under the Landlord & Tenant Act 1987 have been served on the qualifying tenants. Refer to legal pack for copy documentation.

EPC Rating

No.471 – D
No.473 - C

VAT

Please refer to the legal pack in this regard.

Disclaimer*

* Guide Prices are provided as an indication of each seller's minimum expectation (also known as the 'Reserve Price'). They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide Price.

The Guide Price for the Lot does not include the Buyers Administration Fee of £2,000 (inclusive of VAT). In addition, the Guide Price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.

To participate in the sale, SW Property Auctions must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £5,500 comprises £3,500 relating to your bidder security (partial deposit payment) and the buyers administration fee of £2,000 (inc. VAT).

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Documents

Property Map

Office Contact

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Oliver Childs
07732 681 150
Sanderson Weatherall LLP,
4th Floor,
87-88 Bartholomew Close,
London,
EC1A 7BL

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Gateley Legal
Matt Leech
0113 218 2477

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