• Prominent Unbroken Freehold Parade in London

• Comprises 4 Shops & 4 Self-Contained Flats

• Tenants include a Solicitor & Supermarket

• In the Same Ownership for over 54 years

• EPC Ratings: C, E, E Flats: E, D, D, E

• Flats council tax bands: B

Property 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.

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

EPC Rating

C, E, E Flats: E, D, D, E

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.

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.

Special Conditions

Completion 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.