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602-604 Barking Road, London, E13 9EZ
Guide Price* : £150,000
Freehold Investment producing rent of £20,400 per annum
Upon Instructions of
Trustees in Bankruptcy
- Freehold retail unit
- Ground floor let to Learning Hub Education Limited expiring 13/09/2021 and producing £20,400 per annum
- Upper parts let on a virtual freehold at a peppercorn rent
- Guide price of £150,000 reflects an attractive Net Initial Yield of 13.6%
Description
The property comprises ground floor retail unit currently being used as an educational facility with residential upper parts that have been sold on a long leasehold basis.
The ground floor comprises a reception to the front, two classrooms and a small garden to the rear, whilst the upper parts comprise two residential flats.
Location
The property is located in Plaistow, within the London Borough of Newham.
Barking Road is an established secondary retail pitch featuring predominantly local covenants. Plaistow Station is approximately five minutes walking distance to the north and provides direct rail services to Central London.
Tenure
Freehold
Tenancy
The ground floor is let to Learning Hub Education Limited for a term of three years from 14 September 2018 and paying a rent of £20,400 per annum, payable by equal monthly installments.
The residential upper parts have been sold off on a 999 year lease at a peppercorn rent.
Planning Authority
London Borough of Newham
VAT
The property is not elected for VAT
Note
The ground floor is let on a long leasehold basis, however the long leasehold interest forms part of the sale. Please consult the legal pack for more information.
Note Overflow
Our Property Finance team have sourced indicative auction finance terms for this property at 66.70% LTV.
For more details please contact:
Adam Klein
aklein@lsh.co.uk
020 7198 2241
Contact
Vendor's solicitor
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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Office Contact
Vendor
Vendors Solicitor
Related Documents
Agreement Documents
Additional Documents
Subject to Contract and Exclusive of VAT © Lambert Smith Hampton April 2025
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