108 -110 The Grove, Stratford, London, E15 1NS

** For sale by public auction on 23rd October at 12:00 **

Location & Description
The property is located on The Grove, opposite The Broadway, in the heart of Stratford's retail and leisure area. It is 80m from the junction with Roman Road, and 300m east of Stratford Train and Tube Station (Jubilee, Central, DLR and Elizabeth Lines). The Stratford Centre is 100m to the south west.

The property comprises a five storey building (with basement), and comprises a restaurant/cafe/drinking establishment, on the ground and basement floors and with separate access to 27 flats over the first to fourth floors, which have been sold off on a long leasehold basis. The restaurant is L- shaped and has windows on three sides and 150 covers (50 of which are in the dining area).

Accommodation
The property comprises -

Ground & Basement Floor: Restaurant, cafe, dining area, bar, office, disabled toilet, kitchen, store area, cellar, two toilets, staff rest area and managers office 5,479 Sq Ft (509 SqM)
First to Fourth Floors: 27 Flats (with separate access and sold off on long lease)

Tenancy Details
Let to O12 Limited by way of assignment at a rent of £89,000pa and lease expiry on 19/07/2032 (Outside 54 Act). It has an outstanding 2022 rent review and further review in 2027. O12 Limited have been in occupation since 2011.

Let to 27 flats, on a single lease to a Management Company (prospective purchasers should refer to the legal pack for further details), with leases expiring in the year 3007, at a ground rent is £4,050 pa.

Note
1. The vendor has said that the tenant consistently pays his rent on the first of the month, however, they do have some arrears from the Covid Period, which will be set out in the Special Conditions.
2. Some pictures are historic.

Auction Surveyor : Rob Hills
Contact : Robert.

PRODUCING £93,050 PER ANNUM

EPC Rating
Restaurant - B


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