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    Key features

    • To be offered on Wednesday 14 May
    • Comprising of 4 units / 2 x large double fronted commercial units, flats on the upper floors (sold off on long lease) and a large rear yard with development potential (subject to the requisite consents)
    • Asset management potential to let out the vacant commercial units (ERV of £100,000 p.a.)
    • Total commercial space an approx. 7,976 sq ft (741 sqm) low capital value of £119 a sq ft on guide
    • Plans have been drawn up for 8 dwellings (5 x two bedroom and 3 x one bedroom flats)
    • Further development potential to utilise the commercial space at the rear of the shops to be converted into a number of dwellings (Subject to the requisite consents)
    • Reversionary value in 2 of the flats that have been sold off on long lease (49 & 71 years remaining)
    • Located opposite Streatham Park an approx. 0.3 miles from Streatham Station
    • No VAT on sale price
    • 6 week completion available

    Description

    A freehold corner property comprising of 4 units/ 2 x double fronted commercial units on ground floor & basement and flats in the upper floors (sold off on long lease).

    There is instant asset management potential to let out the vacant units and further development potential to build 5 dwellings in the rear yard and/or convert the rear commercial units into a additional 3 dwellings. (subject to the requisite consents) Plans have been drawn up for 8 flats (5 x two beds and 3 x one beds).

    • Unit 1 - 2 Bedroom - 836 sq ft (77.7 sqm)
    • Unit 2 - 1 Bedroom - 656 sq ft (61.6 sqm)
    • Unit 3 - 2 Bedroom - 836 ss ft (77.7 sqm)
    • Unit 4 - 1 Bedroom - 666 sq ft (61.9 sqm)
    • Unit 5 - 2 Bedroom - 836 sq ft (77.7 sqm)
    • Unit 6 - 1 Bedroom - 734 sq ft (68.2 sqm)
    • Unit 7 - 2 bedroom - 882 sq ft (82 sqm)
    • Unit 8 - 2 Bedroom - 835 sq ft (77.6 sqm)

    There is also reversionary value on 2 of the flats sold off on long lease that have lease lengths of 50 and 71 years (Please refer to the legal pack)

    Additional information

    Tenure

    Freehold

    Upper floors flats sold off on long lease an ground rent of £600 p.a.

    Flat 2a - an approx. 71 years remaining

    Flat 2b - an approx. 49 years remaining

    Accommodation

    Please note that Savills have not inspected the property, but it is believed to comprise of the following

    Commercial premise

    • Basement 1,814 sq ft (168.6 sqm)
    • Ground floor 3,195 sq ft (296.9 sqm)
    • Covered court yard 764 sq ft (71 sqm)
    • Storage Area 395 sq ft (36.7 sqm)
    • Office/showroom 1,317 sq ft (122.4 sqm)
    • Warehouse 492 sq ft (45.8 sqm)

    Total space = 7,977 sq ft (741 sqm)

    Tenancy

    Vacant

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. Prospective purchasers must reply upon their own enquiries prior to bidding. Please refer to the legal pack.


    Joint Agent


    Reuben Barnard

    Email: reuben.barnard@glpg.co.uk

    Tel: 07380 919 319

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      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property is located on the west side of Streatham High Road and at the junction with Barrow Road.

      Streatham Station is located an approx. 0.3 miles from the property

      Transport

      Streatham Station - National Rail services

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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