231 High Street, Acton, London W3 9BY
FREEHOLD INVESTMENT OPPORTUNITY IN POPULAR LOCATION
This terraced dwelling is situated in the heart of Acton opposite Morrisson and Market Square. Good road links serve the area with easy access onto the A40 and M4. Ealing Broadway with its main shopping facilites and station is within two miles and Acton Town Piccadilly line station is also within walking distance. Shepherds Bush and London Westfield shopping centre are within 2 miles and Acton Main Line station, part of the planned Crossrail route is within walking distance. The property consists of a commercial unit over basement and ground floor levels that is let on a 16 year lease from 01/09/05 producing a current rent of £21,250. The lease is due to expire on 31/08/21 and of course any intending purchaser can negotiate terms with the tenant. The upper parts are split into two self contained flats that have been sold off on long leases and producing a ground rent income of £125pa per flat, thus the overall income for this lot is £21,500. The flats were sold on 125 year leases from 25/12/03 with fixed ground rent reviews every 25 years to £225, £365, £500 and £650 respectively. This lot will be of interest to investment buyers. We are advised that VAT is not applicable and the property is held in an SPV as a sole asset if of interest.
Commercial premises consists of Basement approximately 764 sf and Ground Floor approximately 590sf, thus 1354 sf overall. 231a and 231b are flats above. The latter is a split level flat.
LOCAL AUTHORITY & TAX RATING
London Borough of Ealing 0208 825 5000 Rateable Value £10000 and a further £900 for the ATM machine. 231a is Council Tax Band B and 231b is Band C
By appointment through the Auctioneers
*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Please note that the following additional fees will apply to the purchase of your property:
1. Buyers Premium of £600 inclusive of VAT
2. Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to you prior to auction. You will be expected to sign this document as well as the Sales Memorandum at the time of purchase.
3. Stamp Duty - rates easily available on-line
4. Your solicitor fees and any survey fees
5. Insurance - it is your responsibility from the date of exchange to insure the property purchased.