Unbroken parade comprising 5 shops on prominent corner location
Tenants including Churchill Estates, Petty Son & Prestwich Estate Agents and independent retailers
Average Unexpired Lease Term of almost 8 years
Future redevelopment potential (subject to consents)
Affluent and Attractive East London Suburb 8 miles east of City of London
Nearby occupiers include Marks & Spencer, Domino's, J D Wetherspoon and Majestic Wine
Lot 11
Auction 16th June 2021
Rent £85,750 per Annum Exclusive
Status Sold
Price £1,525,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
8 miles north-east of the City of London
4 miles east of Stratford, Olympic Park and Westfield Shopping Centre
5 mile North of London Docklands /
Canary Wharf
Roads
A12, A406 (North Circular Road), M11, M25
Rail
Wanstead Underground (Central Line)
Air
London City Airport, London Heathrow, London Stansted, London Southend
Situation
Wanstead is a well located, affluent and attractive East London suburb situated approximately 8 miles north-east of the City of London and 5 miles north of London Docklands. Wanstead benefits from excellent road and rail communications being strategically situated at the junction of the A12 and A406 North Circular Road. The property is situated in a prominent position on the junction of High Street and Woodbine Place, facing Christ Church Green and less than 200m north of Wanstead Underground Station. Nearby occupiers include Majestic Wine, Marks & Spencer, Domino's, J D Wetherspoon and an eclectic mix of independent retailers, cafe's and restaurants.
Tenure
Freehold.
Location
Miles
8 miles north-east of the City of London
4 miles east of Stratford, Olympic Park and Westfield Shopping Centre
5 mile North of London Docklands /
Canary Wharf
Roads
A12, A406 (North Circular Road), M11, M25
Rail
Wanstead Underground (Central Line)
Air
London City Airport, London Heathrow, London Stansted, London Southend
Situation
Wanstead is a well located, affluent and attractive East London suburb situated approximately 8 miles north-east of the City of London and 5 miles north of London Docklands. Wanstead benefits from excellent road and rail communications being strategically situated at the junction of the A12 and A406 North Circular Road. The property is situated in a prominent position on the junction of High Street and Woodbine Place, facing Christ Church Green and less than 200m north of Wanstead Underground Station. Nearby occupiers include Majestic Wine, Marks & Spencer, Domino's, J D Wetherspoon and an eclectic mix of independent retailers, cafe's and restaurants.
Tenure
Freehold.
Description
The property comprises an unbroken parade of five retail units, with a mix of three storey shops with ancillary above and single storey units.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Various. See legal pack at www.acuitus.co.uk.
Description
The property comprises an unbroken parade of five retail units, with a mix of three storey shops with ancillary above and single storey units.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Various. See legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Address
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
32 High Street
Ground First Second
Retail Ancillary Ancillary
30.60 sq m 39.34 sq m 31.08 sq m
(329 sq ft) (423 sq ft) (335 sq ft)
CHURCHILL INTERNATIONAL LIMITED t/a Churchill Estates (1)
25 years from 14/04/2009 until 13/04/2034 on a full repairing and insuring lease
£26,000
14/04/2019 (4) 14/04/2024 14/04/2029
11 Woodbine Place
Ground First
Retail Ancillary
27.60 sq m -
(297 sq ft) -
PETTY SON & PRESTWICH LIMITED t/a Petty Son & Prestwich Estate Agents (2)
10 years from 05/02/2019 until 04/02/2029 on a full repairing and insuring lease
£16,500
-
12 Woodbine Place
Ground
Retail
38.00 sq m
(409 sq ft)
INDIVIDUAL t/a Kebab House
15 years from 28/02/2016 until 27/02/2031 on a full repairing and insuring lease
£13,500
28/02/2021
12a Woodbine Place
Ground
Retail
17.30 sq m
(186 sq ft)
INDIVIDUAL t/a Wanstead Hairdressers
10 years 28/02/2016 until 27/02/2026 on a full repairing and insuring lease
£10,000
28/02/2021
14/15 Woodbine Place
Ground
Retail
45.99 sq m
(495 sq ft)
INDIVIDUAL t/a Bambini Baby Clothes
7 years from 08/10/2018 until 07/10/2025 on a full repairing and insuring lease
£19,750
08/10/2021
Total
202.31 sq m
(2,474 sq ft)(3)
85,750
(1) "Established in 1990, Churchill Estates are a leading independent Sales, Lettings and Property Management agent, servicing communities in East London and West Essex" (www.churchill-estates.co.uk/About-Us). (2) "Established in 1908, Petty Son and Prestwich have been helping people achieve their property dreams for well over 100 years. Our conscientious and courteous team pride themselves on both their professionalism and the personal touch they offer all of our clients" (www.pettyson.co.uk/about-us). (3) The floor areas stated above have been puiblished by the Valuation Office Agency at https://www.gov.uk/correct-your-business-rates (4) The 2019 rent review has been agreed at £30,000 pa although has not yet been documented. Full information is available in the legal pack.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
