251 London Road, Romford, Essex, RM7 9NJ
£500,000+
Investment
2
Key Features
- Substantial motorbike showroom, workshop and 2 bed flat with a combined area of circa 5,550 sq ft
- Motorbike showroom and workshop let at a rent of £45,000 pa on a 10 year lease from 2015 with a potential combined income when flat let of circa £57,000 pa
- Ideal opportunity for investors and developers
Part of the
18 June 2019
auction
Nottingham Racecourse
at
2.30PM
Investment property let to a motorbike dealership and self contained two bedroom flat in the heart of Romford
- Substantial motorbike showroom, workshop and 2 bed flat
- Located on busy London Road in the heart of Romford
- Close to Triumph Motorcycles, Nissan & Honda dealerships
- Motorbike showroom to the front with forecourt
- Workshop to the rear with MOT bay
- Workshop and showroom let to Hyside Motorcycles Ltd
- Let at a rent of £45,000 pa on a 10 year lease from 2015
- Flat not included within the lease to Hyside Motorcycles Ltd
- Vacant self contained 2 bedroom flat above showroom
- Flat - 2 x bedrooms, kitchen, living room and family bathroom
- Flat - mains drains, gas, electric and central heating
- Total combined floor area circa 5,550 sq ft
- Ideal opportunity for investors
Please contact Auction Estates on 0115 7844 600
Fees
A buyer's premium of £1,440 inc VAT (£720 inc VAT if the sale price is less than £10,000) is applicable to each lot purchased. The Seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of sale. Buyers are deemed to bid in full knowledge of this.
Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily 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. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.
Conditions of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Freehold subject to a lease of the motorbike showroom and workshop to Hyside Motorcycles Ltd on a 10 year lease from 2015 at a current rent passing of £45,000 pa, and self contained 2 bedroom flat which is vacant. Potential combined income when flat let approximately £57,000 pa.
TBC
Email: heather.lee@dmhstallard.com
Telephone: 01293605092