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
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.
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
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.
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.
