522 - 524 Roman Road Bow London E3 5ES

522 - 524 Roman Road
Bow
London
E3 5ES

Freehold Retail and Residential Investment

Two retail units located on historic and bustling market street
Popular East London suburb
Unit 524 let until 2025 (no breaks)
Nearby occupiers include Costa, Ladbrokes and Superdrug
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
3
Auction
25th May 2017
Rent
£38,000 per Annum Exclusive
Status
Sold
Price
£475,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Major Asset Managers

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Freehold Retail and Residential Investment

Two retail units located on historic and bustling market street
Popular East London suburb
Unit 524 let until 2025 (no breaks)
Nearby occupiers include Costa, Ladbrokes and Superdrug
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 3
Auction 25th May 2017
Rent £38,000 per Annum Exclusive
Status Sold
Price £475,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Major Asset Managers

Property Information

Location

Miles: 2.7 miles East of the City of London
Roads: A11, A12
Rail: Bethnal Green, Mile End and Bow Road Undergorund Station. Bow Church DLR
Air: London City Airport

Situation

Bow is a popular east London suburb which lies less than 3 miles east of the City of London, adjacent to the Queen Elizabeth Olympic Park at Stratford. The property is located on Roman Road, a historic and bustling market street which hosts its famous markets three times a week. Roman Road is within close proximity of Mile End and Bow Road underground stations (Hammersmith & City and Central Lines) as well as Bow Church DLR. Nearby occupiers include Costa, Ladbrokes and Superdrug as well as a number of independent retailers.

Tenure

Freehold.

Location

Miles: 2.7 miles East of the City of London
Roads: A11, A12
Rail: Bethnal Green, Mile End and Bow Road Undergorund Station. Bow Church DLR
Air: London City Airport

Situation

Tenure

Freehold.

Description

The property comprises two ground floor retail units with four self contained residential flats arranged over first and second floors which have been let on long leases.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises two ground floor retail units with four self contained residential flats arranged over first and second floors which have been let on long leases.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
524 (Unit 1)	Ground	Retail	129.13 sq m	1,390 sq ft	INDIVIDUAL t/a Fair Price Cash & Carry	20 years from 03/03/2005	£24,000	(02/03/2025)
522 (Unit 2)	Ground	Retail	43.29 sq m	466 sq ft	INDIVIDUALS t/a Five Star Nails Beauty Salon	9 years 10 months approx from 05/10/2007	£13,600	(12/08/2017)
Flats 1, 2, 3, & 4	First & Second	Residential	Not measured		INDIVIDUALS (1)	Four separate leases for a term of 125 years from 24/03/2002 until 24/03/2127	£400 (2)	24/03/2027 and 25 yearly (3)
Total Commercial Area			172.42 sq m	1,856 sq ft			£38,000

(1) The seller has served a notice on the residential tenants, pursuant to Section 5B of the Landlord and Tenant Act 1987.
(2) Each lease provides a rent of £100 p.a.x.
(3) The rent for each flat will increase to £125 p.a. in 2027 and then by £50 p.a. at each subsequent review