204-206 London Road, Grays, Essex, RM17 5YP

Lot Image

Auction sale - Monday 11th December 2017

Result:

Sold for £390,000

Upon the instructions of

Joint LPA Receivers
  • Freehold mixed use building
  • Asset management opportunity
  • Two shops and a large 4 bedroom first floor flat requiring refurbishment
  • Producing £6,600 per annum (one vacant shop and vacant flat)

Addendum

204-206 London Road, Grays
Completion will be set for 30 working days from the date of the auction.

Viewings

Tuesday 28 November and Tuesday 5 December both at 11:30am.

Details

Location

Summary: A part vacant mixed use investment forming part of a parade in a mainly residential location
Miles: Rainham 8 miles, Basildon 14 miles, Dagenham 11 miles
Roads: A13, A1089, A126, A1012, A282
Rail: Grays

Description

The property comprises two ground floor shops with a self-contained first floor flat above. The flat is accessed from the rear, via a small yard from Castle Road. The flat is arranged as four bedrooms, living room, kitchen, shower/WC and requires complete refurbishment. The property is situated on the north side of London Road at the junction with Castle Hill, within a parade of shops, in a mainly residential area.

Tenure

Freehold

Planning

The property could have potential for change of use, subject to obtaining the necessary consents. For further information contact Thurrock Council (01375 652291) www.thurrock.gov.uk

VAT

Refer to the legal documentation

Energy Performance Certificate

See website

Address Tenant Floor Use Sq M Sq Ft Lease Terms Rent £ pa
TOTAL £6,600
204 London Road Chyril Hutchinson t/a Hairdresser Ground Retail 26.90 290 1 year from 17/03/2017 £6,600
204A London Road Vacant First Residential (4 bedroom flat) 78.29 843 Vacant
206 London Road Vacant Ground Retail/storage 68.50 737 Vacant
The areas for the retail units have been taken from the VOA website.

Contact

Seller's solicitor

Irwin Mitchell LLP

Doug Robertson

0113 218 6428

doug.robertson@irwinmitchell.com

* Guide price

An indication of the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

* Reserve price

The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

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