Home > Auctions > December 2022 14 December 2022 - 9:00am > Lot 13

December 2022: Wednesday 14 December 2022 - 9:00am
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    Key features

    • An appealing freehold mid terrace building arranged as a shop unit let at £20,000 per annum
    • Residential upper part having four self contained flats, one let on an assured shorthold tenancy, three flats sold on leases
    • Planning permission for two additional floors to create a good size one bedroom flat with south facing sun terrace
    • Near good shopping facilities and Clapham Junction station
    • Investment let at £31,600 per annum.

    Description

    An attractive mid terrace building arranged as a ground floor and basement shop unit trading as GNJ Hairstudio.

    Separate front entrance to four self contained flats on the first and second floors.

    One second floor studio flat let on an assured shorthold tenancy, three flats sold on leases.


    Additional information

    Tenure

    Freehold.

    In accordance with Section 5B of the Landlord and Tenant Act 1987 notices have been served on the lessees and they have NOT reserved their rights of first refusal.

    Accommodation

    Ground Floor - Shop Internal Width approximately 13' 2'',

    Shop Depth approximately 34' 10''

    Kitchen, Store, WCs

    Basement - Store


    First/Second Floors - Two Flats each sold on a 125 year lease from 25th March 1988

    Total Ground Rent £300 per annum

    One flat sold on a 125 year lease from 25th March 1987 Ground

    Rent £200 per annum


    Second Floor Rear Flat - Studio Room, Kitchen, Bathroom/WC


    Tenancy

    Ground Floor Shop and Basement - Let on a 10 year lease from 19th September 2016 at a rent of £20,000 per annum. September 2021 rent review outstanding.

    £5,000 rent deposit held.


    Second Floor Rear Flat - Two year assured shorthold tenancy from 15th June 2021 at a rent of £11,100 per annum.


    Planning

    Permission (Application No: 2020/3309) was granted by Wandsworth Borough Council on 2nd November 2020 for erection of extension to form two additional floors of accommodation and formation of a roof terrace above 3 - storey back addition in connection with creation of an additional 1 x 1 bed flat.


    A Community Infrastructure Levy ( Liability Notice Ref: LN00004178) of £36,362.46 is payable on commencement of the development.


    The proposed development would comprise a reception room, kitchen and bathroom/wc on the third floor and a bedroom on the fourth floor totaling approximately 656 sq ft. There is provision for a south facing rear sun terrace of approximately 161 sq ft.


    Rent

    Total Current Rent £31,600 per annum

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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.

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        Local information

        Situated in a popular location on the south side Lavender Hill (A3036) near the junction of Thirsk Road.

        The property forms part of a local parade serving a well populated surrounding residential area.

        The shopping facilities along Battersea Rise and Northcote Road, where there are a good selection of cafes, bars and restaurants, are nearby.

        The leisure areas of Clapham Common and Battersea Park are both within easy reach.

        Access to the A3 provides good road links into central London and westwards to the M25.


        Transport

        Overground - Clapham Junction

        National Rail - Clapham Junction


        Legal documents

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        EPC rating

        The EPC rating for this property is D

        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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