For Sale By Auction | 12.00, 09 May 2019 | Lot 97

Ground & Basement, 408 Hackney Road, London, E2 7AP

Sold £325,000

  • Retail Property (high street)
  • Tenure: Long Leasehold. The property is held on a 999 year lease from 18th December 2015 (thus approximately 995 years unexpired).

Call the team on 020 7625 9007 for more information

Auction Date

Thu 09/05/2019

Auction Time

12.00

Auction Venue

London Marriott Hotel Regents Park, 128 King Henry’s Road, London, NW3 3ST

A Well Located Ground Floor & Basement Lock-Up Coffee Shop Let on an FRI Lease Producing £23,000 per annum.

The property occupies a prominent corner position within an established parade of shops on the main high street with return frontage on Teesdale Close. The property is arranged as a ground and lower ground floor coffee shop measuring approximately 139 sq m (1,500 sq ft) and benefits from an A3 license.

Tenure

Long Leasehold. The property is held on a 999 year lease from 18th December 2015 (thus approximately 995 years unexpired).

Location

The property is situated in the popular East London area of Hackney amongst local shops and amenities. As well as numerous local established traders, nearby multiples include William Hill and The Days Hotel. Transport links are provided by Cambridge Heath overground station.

Accommodation

Lower Ground Floor Customer Seating Offices and Staff Room Ground Floor Shop Area W.C.

Tenancy

The property is let on an FRI Lease for a term of 3 years commencing 26th March 2018 at a rent of £1,916.66 per month. The shop is trading as Residence Coffee and the tenant has requested a new 15 year lease with 3 year rent reviews.

Current Rent Reserved

Current Rent Reserved £23,000 per annum

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £900 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.