April 2021: Wednesday 14 April 2021 - 10:00am
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    Key features

    • Popular south London residential area
    • Investment opportunity
    • Freehold building comprising three* flats (one let, one sold, one with no natural light)
    • Currently producing a rental of £18,720 per annum (*see note)
    • By order of the Fixed Charge Receivers Duff & Phelps

    Description

    This four storey end of terrace building is arranged as follows: The top two floors have been sold off on a long lease and are accessed to the left front door. The ground and basement units are accessed from the right side communal front door, which provides access to the ground floor unit which is let and the basement which is subject to a tenancy (see note) vacant and has no natural light.

    Additional information

    Tenure

    Freehold

    Accommodation

    Flat 19A - First and Second Floor - maisonette is sold off on a long lease.

    Flat 19B - Ground Floor - Open Plan Reception Room, Kitchen, Bedroom, Bathroom, separate WC

    Flat 19C - Basement - Kitchen, Bedroom, Bathroom, Separate WC (no natural light)

    Tenancy

    Flat 19A - Sold on a long lease for a term of 150 years from 25/03/1985

    Flat 19B - Let on an assured shorthold tenancy at a rent of £1,300 per calendar month, the receivers do not currently hold a copy of the AST - interested parties will need to satisfy themselves in this regard.

    Flat 19C - Subject to a 7 year tenancy agreement from 23.12.2020 at a rental of £780 per quarter see Note

    Planning

    *We understand planning permission was granted for the conversion of the shop to a self-contained flat. However, the basement has been converted to provide a self-contained one bedroom flat but has no natural light and the services are not separate. There is potential for reconfiguration subject to consents. Interested parties must rely on their own enquiries in this regard.

    Rent

    £15,600 per annum with one flat vacant

    Notes

    The basement appears to be vacant however the receivers have been provided with an occupational lease from 23.12.2020 to 22.06.2027 at a rental of £780 per quarter. A copy of the agreement is available in the legal pack. Interested parties will have to rely on their own enquiries in this regard.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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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

      Situated in a popular residential area accessed off Stockwell Road.

      There are many fashionable shops bars and restaurants in the nearby centres of Brixton and Clapham North.

      Well served for public transport - Brixton Station is less than half a mile to the east and Clapham North is a similar distance to the west.

      Recreational amenities can be found in Max Roach Park and Ruskin Park.

      Transport

      Brixton - Underground, Victoria Line and National Rail

      Clapham North - Underground, Northern Line

      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.

      Addendums