165 The Vale, Acton, London W3 7RD
SHOP AND UPPERS IN PRIME LOCATION WITH INVESTMENT INCOME
This freehold terraced dwelling is located on Acton Vale opposite Acton Park and The Park Club. Good road links serve the area including the A40, M4 and A406. Ealing Broadway with its main shopping facilities station (District, Central and Main Lines) is 2 miles away with Acton Central Railway Station within walking distance. The property consists of a commercial unit on the ground floor let on a 10 year lease from 3/8/2011 producing a current rent of £9,000 P.A with rent reviews due on the 5th and 8th anniversaries (ie 3/8/2016 and 2019). Neither of these reviews have been actioned. The lease is due to expire on 02/08/21 and any intending purchaser can negotiate new terms with the tenant. The upper parts are split into four self-contained flats that have been sold off on leases, 3 of which are at 65 years unexpired. The overall current income for this lot is £9,480 P.A. This opportunity will be of interest to investors.
Commercial premises on the ground floor of approx 45.78 sq m 165A: Ground Floor - 99 year lease from 25/3/1985 165B: First Floor - 99 year lease from 25/3/1985 165C - Second Floor: 189 years from 25/3/1985 165D - Third Floor: 99 years from 25/3/1985 Current ground rent on each flat: £120 P.A doubling up to £240 P.A in 2051.
LOCAL AUTHORITY & TAX RATING
Ealing Council: 020 8825 5000 Rateable Value: £7,500 P.A Council Tax Band: Flat 165A: A Flat 165B: C Flat 165C: C Flat 165D: 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.