Mixed use

Interested parties should contact Knight Frank Auctions for further information.

Description
The property comprises 4 shops and 4 self-contained flats with a total passing rent of £94,600 per annum (£49,000 for the commercial and £45,600 for the residential). The parade has been in the same ownership for over 54 years and presents value enhancement opportunities through asset management and redevelopment (subject to all the necessary consents).
The 4 ground floor shops occupy a prominent position on the junction of Green Lane and Whalebone Lane South.

Accommodation
The 4 self-contained apartments are based over the first floor and are separately accessed from the rear via Whalebone Lane South. Each flat comprises two bedrooms, kitchen, bathroom, reception room.
Unit 1 Ground Floor 79.64 sq m (857 sq ft) Flat 1a First Floor 3 rooms, kitchen & bathroom
Unit 2 & 3 Ground Floor 211 sq m (2,271 sq ft) Flat 2a First Floor - 3 rooms, kitchen & bathroom Flat 3a First Floor - 3 rooms, kitchen & bathroom
Unit 4 Ground Floor 84.35 sq m (908 sq ft) Flat 4a First Floor - 3 rooms, kitchen & bathroom Total Commercial 375 sq m (4,036 sq ft)
NB floor areas from
Location
The property is situated on the junction of Green Lane and Whalebone Lane South in a mixed residential/ commercial suburb in Dagenham, East London. This location benefits from ease of access to local amenities in Dagenham and Romford such as the Becontree Health & Leisure Centre and Morrisons nearby. The area benefits from the following : Dagenham Heathway (District Line) 1.4 miles, Becontree (District Line) 2.1 miles Dagenham East (District Line) 2.5 miles, Barking (District Hammersmith/City National Rail to Fenchurch Street) 4.4 miles and Chadwell Heath (Elizabeth Line) 1.2 miles away which runs directly into Stratford (15 mins), Liverpool Street (24 mins), and Bond Street (34 mins). The area also benefits from proximity to the A12 (1.5 miles), A13 (2.5 miles) and Canary Wharf/City Airport (8 miles). For access for green space, Central Park (Dagenham) is situated just 0.4 miles from the property. Local schools include All Saints Catholic School, Robert Clack Upper School, William Bellamy Primary School and Grafton Primary School.

Occupancy
Tenanted

Tenancies
Tenancy Details Unit 1 is let to Lillywhite Williams LLP t/a Lillywhite Williams & Co Solicitors (1) for £12,000 per annum. The 5-year FRI lease expired in March 2022 and holding over
Units 2 & 3 are let to Aguona Ltd t/a Aguona Express (2) for £24,000 per annum. The 5-year FRI lease expired in February 2021 and holding over
Unit 4 is let to Thrive Academy Centre Ltd t/a Thrive Academy (3) for £13,000 per annum. The 5-year FRI lease expires in March 2027.

Each flat is let on a periodic 12 month Assured Shorthold Tenancy (AST).
Flat 1A - £12,000 pa
Flat 2A - £13,200 pa
Flat 3A £11,400 pa
Flat 4A - £9,000 pa
Total Current Rent £94,600 per annum Accommodation

Tenure
Freehold

Buyers Fee
The buyers fee is £1,200 including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property.

Special ConditionsCompletion Date 22.06.2023. With regards to the particulars, the lease of unit 1 trading as Lillywhite Williams & Co Solicitors was for 3 years, not 5 years as stated. The lease expired in March 2022 and the tenant is holding over.

Auction Details
The sale of this property will take place on the stated date by way of and is being sold as Unconditional.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to the Common Auction Conditions and Extra General Conditions.

Auctioneer Fees and Deposit
The following deposits and non-refundable auctioneer fees apply:

• 10% deposit, subject to a minimum of £5,000. The deposit contributes to the purchase price.
• Buyer’s Fee- the value of this fee will be listed against the property details, inclusive of VAT.

The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees contained within the Special Conditions of Sale, which can be viewed within the Legal Pack. You are strongly advised to read the Legal Pack carefully before bidding.

Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.