32 High Street & 11-15 Woodbine Place Wanstead London E11 2RH

32 High Street & 11-15 Woodbine Place
Wanstead
London
E11 2RH

Freehold Unbroken Retail Parade Investment

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
Auction Venue
Live Streamed Auction

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Freehold Unbroken Retail Parade Investment

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

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.