Property description
*For Sale by Auction on Feb 27th*
By Order of the LPA Receivers
To be Offered either Individually or Collectively
1 Goodmayes Road & 810-814 High Road (Lot 12) & 3 and 5 Goodmayes Road (Lot 13), Ilford, Greater London, IG3 9UF
A Substantial Part-Vacant Commercial/Residential Investment Producing £135,340 per annum
Collective Guide Price = £1,400,000+
Tenure Freehold
Location The property is situated on a busy parade on the East side of Goodmays Road at its junction with High Road (A118). The property benefits from numerous bus routes and is a short walk to Goodmayes rail station.
Description Two substantial adjoining buildings arranged over basement, ground and two upper floors. Each building is arranged to provide basement and ground floor retail units, with office/residential accommodation above.
Accommodation & Tenancy Schedule The property has not been internally inspected. The following information has been supplied by the vendor:
| Lot | Property | Floor | Accommodation | Tenant | Term | Current Annual Rent | Notes |
| Lot 12 | 1 Goodmayes Road | Basement | Office Accommodation 2,225 sq ft | Vacant | | | |
| 1 Goodmayes Road | Ground | Shop 535 sq ft | Arader Auila & Daujla Auila t/a Homechoice Estate Agents | 12 year FRI lease from 1st Nov 2002 | £11,000 | Rent review every 3 years |
| 812 High Road | Ground | Shop 430 sq ft | Vacant | | | |
| 814A High Road | Ground | One Bedroom Flat | 12 month AST from 3.12.12 at £500 pcm | £6,000 | |
| Flat 1, 814 High Road | Second | One Bedroom Flat | 12 month AST from 23.11.12 at £650 pcm | £7,800 | |
| Flat 2, 814 High Road | First | One Bedroom Flat | 12 month AST from 1.10.12 at £800 pcm | £9,600 | |
| Flat 1, 810 High Road | First | One Bedroom Flat | 12 month AST from 28.5.12 at £700 pcm | £8,400 | |
| Flat 2, 810 High Road | First | Studio Flat | 12 month AST from 11.8.12 at £500 pcm | £6,000 | |
| Flat 3, 810 High Road | First | One Bedroom Flat | 12 month AST from 2.10.12 at £750 pcm | £9,000 | |
| Lot 13 | 3 & 5 Goodmayes Road | Basement | Restaurant GIA 1,612 sq ft | Aimal Ali | 15 year FRI lease from 24 June 2010 | £8,000 | 5 yearly upward only rent reviews |
| 3 Goodmayes Road | Ground | Shop Area 636 sq ft | Ladbrokes Ltd | 15 year FRI lease from 4th Oct 2004 | £18,000 | 5 yearly upward only rent reviews |
| 5 Goodmayes Road | Ground | Shop Area 443 sq ft | Hung Tien Bui | 12 year FRI lease from 24th June 2008 | £12,000 | 3 yearly upward only rent reviews |
| 3a | First | Two Bedroom Flat | 12 month AST from 8.10.12 at £845 pcm | £10,140 | |
| 5a | First | Two Bedroom Flat | 12 month AST from 1.11.12 at £800 pcm | £9,600 |
| 3b | Second | Two Bedroom Flat | 12 month AST from 21.9.12 at £800 pcm | £9,600 |
| 5b | Second | Two Bedroom Flat | 12 month AST from 21.9.12 at £850 pcm | £10,200 |
Total Current Rent Reserved £135,340 per annum. One Vacant Shop and One Vacant Office