Wycliffe House 245/247 Cranbrook Road Ilford Greater London IG1 4TD

Wycliffe House
245/247 Cranbrook Road
Ilford
Greater London
IG1 4TD

Freehold Office Investment

Part let to Santander UK Plc and London Tigers Charity
Unique Part Listed building with alternative use redevelopment potential (subject to consents)
Approximately 1,264 sq m (13,602 sq ft)
Benefits from private parking
Six Week Completion Period Available

Lot
4
Auction
21st March 2013
Rent
£134,308 per Annum Exclusive
Status
Sold
Price
£880,000
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA

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Freehold Office Investment

Part let to Santander UK Plc and London Tigers Charity
Unique Part Listed building with alternative use redevelopment potential (subject to consents)
Approximately 1,264 sq m (13,602 sq ft)
Benefits from private parking
Six Week Completion Period Available

Lot 4
Auction 21st March 2013
Rent £134,308 per Annum Exclusive
Status Sold
Price £880,000
Sector
Office
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA

Property Information

Location

Miles: 6 miles east of the Olympic Park, 6 miles north of Canary Wharf, 9 miles east of the City of London
Roads: M11, North Circular Road (A406), A12
Rail: Ilford Rail Station, Gants Hill Underground Station (Central Line)
Air: London City Airport, London Stansted Airport

Situation

The property is situated in a prominent position on the west side of Cranbrook Road (A123), in an established commercial area.The locality benefits from being within 5 minute walking distance from Ilford Rail Station and 15 minutes from Gants Hill Underground Station. The entrance to Valentines Park is some 50 metres from the property.

Tenure

Freehold.

Location

Miles: 6 miles east of the Olympic Park, 6 miles north of Canary Wharf, 9 miles east of the City of London
Roads: M11, North Circular Road (A406), A12
Rail: Ilford Rail Station, Gants Hill Underground Station (Central Line)
Air: London City Airport, London Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises an attractive part grade II listed former church which has been converted to open plan offices benefiting from a modern office extension, an 8 person passenger lift, air cooling system and raised floors. The property benefits from rear access and secure car parking via Mansfield Road.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground & Lower Ground	Office	726.77 sq m	(7,823 sq ft)	SANTANDER UK PLC (1) (2)	25 years from 25/03/1990 on a full repairing and insuring lease	£123,500	24/03/2015
First	Office	408.77 sq m	(4,400 sq ft)	VACANT POSSESSION
Second	Office	128.11 sq m	(1,379 sq ft)	LONDON TIGERS LIMITED	Approximately 1 year and 2 months from 04/01/2013 (3)	£10,808	31/03/2014
Totals		1,263.65 sq m	(13,602 sq ft)			£134,308 with one floor to be let

(1) For the year ending 31st December 2011, Santander UK plc reported pre-tax profits of £1,261,000,000 and a total net worth of £10,524,000,000. (Source: www.riskdisk.com 22/02/2013)
(2) The tenant has sublet the accommodation to Lettings International Ltd until 21/03/2015 who are currently in occupation of the lower ground and ground floor.
(3) The lease provides for a tenant option to determine the lease on 30/06/2013 on providing no less than 3 months notice.