FOR SALE BY AUCTION - LOT 18
FREEHOLD SHOP AND RESIDENTIAL INVESTMENT
The property is arranged on ground and two upper floors to provide a ground floor shop which forms part of an established retail parade, with a large self contained maisonette above. The maisonette is accessed via a separate entrance at the rear.
PLANNING:
There may be potential to extend into the attic or sub-divide the maisonette into flats, subject to obtaining all the relevant consents. All enquiries should be referred to www.ealing.gov.uk
Location
Acton, located in the London Borough of Ealing, is a popular West London suburb situated between Hammersmith and Brentford, some 6 miles west of Central London. The area is well connected by road, with the A4/M4 intersection some 2 miles to the south and the A40 approximately 1 mile to the northeast, both providing swift access to central London and the M25 Motorway.
The property is located on the north side of Park Parade, fronting the North Circular Road (A406) junction with Gunnersbury Lane (A4000). Acton Town Underground Station (District and Piccadilly Lines) is situated approximately 0.3 miles to the north-east of the property. Crossrail services are due to start operating from Acton Mainline and Ealing Broadway in 2019, reducing journey times to Bond Street to just 9 and 12 minutes respectively.
Accommodation
Ground Floor Retail:
Gross Frontage 6.11 m (20' 1")
Net Frontage 5.71 m (18' 9")
Built Depth 10.00 m (32' 9")
Ground Floor 45.80 sq m (493 sq ft)**
Tenancy in place to Wayne Leonard Grace (t/a Tattoo Parlour) for a term of 10 years from 27.06.2014 Rent review 09.06.2019 FR & I. Tenant’s option to determine 09.06.2019
Current Rent - £15,000 pa
Rent Review - June 2019
First/Second Floor Residential Maisonette:
First Floor – 2 Rooms, Kitchen
Second Floor – 3 Rooms, Bathroom**
Tenancy in place to Individual on Assured Shorthold Tenancy from 01.08.2017
Current Rent - £18,660 pa
Reversion - 31.07.2018
Terms
EPC: Refer to Legal pack
No VAT
PRICE INFORMATION
*Guide Price: This is an indication of the seller's current minimum acceptable price at Auction. The guide price is given to assist prospective buyers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the Auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the Auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the Auction. *Reserve Price: The seller's minimum acceptable price at Auction and the figure below which the Auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the Auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the Auction.
ADDITIONAL COSTS
*Please note that the following additional fees will apply to the purchase of your property: 1. A successful purchaser will have to pay a buyer's premium of £750 plus VAT directly to the Auctioneer 2. Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to prospective buyers prior to Auction. Buyers will be will be expected to sign this document as well as the Sales Memorandum at the time of purchase. 3. Stamp Duty will have to be paid in addition to the sale price. Stamp Duty rates are available online 4. Prospective buyers must factor in solicitor fees and any survey fees 5. Insurance - it is the responsibility of the buyer to insure the property purchased from the date of exchange.
Specification
- Gross Income: £33,660 pa
- Gross YIeld: £4.81%
- 8 week completion
- Comprises a shop and a large maisonette above
- Potential to extend and/or subdivide maisonette (STPP)
- Situated opposite Gunnersbury Park
- Located close to Acton Town
- Underground Station (District and Piccadilly Lines)
- Crossrail services due from Acton Mainline Station in 2019