Lot 7: PROMINENT FREEHOLD BUILDING FOR INVESTMENT

Sold £320,000

This mixed use freehold detached building for investment, comprises six flats spread over the two upper floors (all sold on long leases), three commercial units which are all let and car parking to the rear.

The prominent location of the building, set on the corner of Moor Lane and Front Lane, is in the very heart of Cranham’s shopping area which offers a mix of diverse business from a Tesco Express opposite to hairdressers, estate agents, newsagents, cafes and pubs.

Cranham, which is an area of Upminster, has excellent road links to the A13 and M25 and rail connections with Upminster station being just over a mile away and on both the underground (District Line) and National Rail network (C2C Line).

Ground Floor

Three commercial units each comprising a trading area and toilet together with rear access. The flats are accessed from the rear by way of communal stairs which run up the middle of the building.

First Floor

Landing with entrance to three flats sold on long leases.

Second Floor

Landing with entrance to three flats sold on long leases.

Outside

Marked car parking area for circa 10 vehicles to the rear.

Commercial Tenancies

Unit 1

Let to Creases Dry Cleaners at a current rental of £6,500 per annum.

Unit 2

Let to Hairdressers at a current rental of £10,750 per annum.

Unit 3

Let to Nigel’s Hairdressers at a current rental of £7,000 per annum.

Residential

Tenure

Six flats have each been sold on long leases and currently produce £575 per annum in total ground rental income.

A full schedule of leases along with management information and the commercial tenants information will be included within the legal pack which will be available to download from the Clive Emson website or inspection at the Auctioneer’s Office.

Auctioneer’s Note

Section 5(B) Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.

Commercial EPC: C