Home > Auctions > April 2022 05 April 2022 - 9:00am > Lot 58

April 2022: Tuesday 05 April 2022 - 9:00am
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    Key features

    • Substantial freehold three floor (plus basement) end of terrace building
    • Mixed use investment / development opportunity.
    • Planning permission for a detached two bedroom house to the rear (see note)
    • Potential to split the upper maisonette into two units
    • Busy parade and a popular residential area
    • Producing a rental of £41,400 per annum
    • By order of the LPA Receivers

    Description

    A substantial freehold three storey (plus basement) end of terrace building. Arranged as a ground floor retail unit, a basement flat accessed from the side and an upper maisonette accessed from separate side door.

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground floor retail unit - Sales area, Kitchen, Wc. Approximate area 42 sq m (452 sq ft)

    Upper Floors - Understood to be a non self-contained flat on the first floor which is currently tenanted, and a self-contained flat on the top floor which is vacant and has undergone some improvement works as per the photos.

    Basement - Arranged as a two bedroom self-contained flat with no natural light to either of the windows. Approximate area 48 sq m (517 sq ft).

    Rear - Yard area and single storey building / store with planning permission for a two bedroom house.

    Planning

    Planning permission has been granted (January 2022 ref: 20/01808/FUL) by the London Borough of Lambeth for the demolition of the storage rooms at the rear of the property and erection of a part one and part two storey single dwelling house with the provision of cycle, refuse and recycling storages including amenity space.

    Rent

    Total current rent £41,400 per annum

    Notes

    There is an area of land to the rear which is owned by a neighbouring property and may affect the implementation of the current planning permission to build a two bedroom house. Interested parties must rely on their own enquiries in this regard. 

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        Local information

        Situated to the north side of Acre Lane, at its junction with Plato Road.

        This is a busy trunk road linking Brixton and Clapham, the ground floor retail unit will benefit from considerable passing trade.

        Other nearby occupiers include Tesco, Lidl and Acre Lane Timber together with many other local traders and takeaway restaurants. Brixton High Street is close by and provides a broad range of fashionable shops bars and restaurants.

        The property is well served for public transport with Brixton Station nearby together with many local bus routes providing access to Brixton and Clapham centres.

        Transport

        Brixton Station - National Rail and Underground, Victoria 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.

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

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