Home > Auctions > July 2023 18 July 2023 - 9:00am > Lot 88

July 2023: Tuesday 18 July 2023 - 9:00am
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    Key features

    • A freehold residential development opportunity comprising 8 existing flats
    • Planning consent granted for an additional 6 x 3 bedroom detached houses to the rear
    • Well located for the amenities of Honor Oak Park Road and Honor Oak Park Station
    • Potential to either asset manage or apply for planning permission to develop a new build scheme
    • Four flats let on AST's earning a combined rent of £45,900 per annum
    • Total site area of 0.72 acres
    • 300m from Honor Oak Station
    • Part vacant

    Description

    The site extends to 0.72 acres (0.29 hectares) in total and comprises two residential buildings fronting Honor Oak Park Road and a large cleared plot of land to the rear. The existing buildings extend to approximately 4,138 sq ft NSA. The original period building has been split into 6 flats and is adjoined externally by a staircase to the other building which is a later addition and comprises 2 flats plus garages at ground floor. There is an area of hardstanding for parking at the front. Four of the eight flats are let on AST agreements with an annual rent of £44,700. The leases are available within the legal pack. A separate access leads to a large cleared plot of land to the rear which has planning permission for 6 detached houses.

    Additional information

    Tenure

    Freehold.

    Accommodation


    Basement Flat (Lower Ground Floor) - Three Bedrooms with Garden

    Studio 1 (Ground Floor) - One Bedroom

    Studio 2 (Ground Floor) - One Bedroom

    Studio 3 (Ground Floor) - One Bedroom

    107A (First Floor) - Two Bedrooms

    107B (Second Floor) - Two Bedrooms

    107C (Second Floor) - Two Bedrooms

    107D (Third Floor) - Two Bedrooms with Roof Terrace

    Total Area - 4,138 sq.ft.

    Planning


    Planning permission (ref: DC/21/124513) was granted on 29 June 2022 for the construction of 6 two storey, three bedroom houses to the rear of 105A and 107 Honor Oak Park.

    Consented GIA of the proposed houses - 6,529 sq. ft.

    Rent

    £45,900 per annum with vacant possession of 4 flats

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        Accommodation / Tenancy Schedule

        Local information

        Honor Oak is a popular residential area benefitting from excellent transport links into central London and green open spaces.

        There are a number of shops and restaurants on Honor Park Road to the east of the site, including a Sainsbury’s supermarket along with a number of independent cafés.

        The area is surrounded by green spaces, including the nearby One Tree Hill and Blythe Hill Fields.

        The site has a PTAL rating 4 and Honor Oak Park station is located less than 300 metres to the east providing National Rail and Overground services.

        Transport

        National Rail & Overground - Honor Oak Park (Southern & Overground)

        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.

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