92-94 North Street Romford Greater London RM1 1DA

92-94 North Street
Romford
Greater London
RM1 1DA

Prominent Retail Investment

Let to tenant trading as Romford International Food
New 15 year lease from March 2021 (no breaks)
Forms part of recently completed mixed use development
Prominent location on the edge of Romford Town Centre and 0.5 miles from Romford Station
VAT-free Greater London Investment
New Crossrail/Elizabeth Line from Romford

Lot
21
Auction
16th June 2021
Rent
£38,000 per Annum Exclusive
Status
Sold
Price
£574,500
Auction Venue
Live Streamed Auction

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Prominent Retail Investment

Let to tenant trading as Romford International Food
New 15 year lease from March 2021 (no breaks)
Forms part of recently completed mixed use development
Prominent location on the edge of Romford Town Centre and 0.5 miles from Romford Station
VAT-free Greater London Investment
New Crossrail/Elizabeth Line from Romford

Lot 21
Auction 16th June 2021
Rent £38,000 per Annum Exclusive
Status Sold
Price £574,500
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 13 miles north-east of the City of London
Roads: A12, M25
Rail: Romford
Air: London City

Situation

Romford is a popular commuter town approximately 13 miles north-east of the City of London with excellent communication links via the A12, M25 and by rail (Overground, TFL, & GreaterAnglia). The property is located in a prominent position on the east side of North Street (A125), close to its junction with St Edwards Way and Angel Way. Nearby occupiers include Papa John's, HSH Solicitors, Matalan and various independent retailers.

Tenure

Long Leasehold. 999 years from 22/12/2020 at a peppercorn rent.

Location

Miles: 13 miles north-east of the City of London
Roads: A12, M25
Rail: Romford
Air: London City

Situation

Tenure

Long Leasehold. 999 years from 22/12/2020 at a peppercorn rent.

Description

The property comprises a ground floor shop only, forming part of a recently completed mixed use development.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

C. See legal pack at www.acuitus.co.uk.

Description

The property comprises a ground floor shop only, forming part of a recently completed mixed use development.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

C. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground	Retail	198.81 sq m	(2,140 sq ft)	INDIVIDUAL (1) t/a Romford International Food	15 years from 26/03/2021 until 25/03/2036	£38,000 (2)	26/03/2026 and 5 yearly thereafter
Total		198.81 sq m	(2,140 sq ft)			£38,000

(1) A 6 month rent deposit is held by the Vendor.
(2) Under the terms of the lease, the tenant benefits from 3 months rent free from the start of the lease until June 2021, and then half rent until March 2022. The Vendor has agreed to top up the completion monies so that the property effectively produces £38,000 pa from completion of the sale until the end of the rent free period - please see Special Conditions of Sale.

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.