June 2021: Wednesday 02 June 2021 - 9:00am
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    Key features

    • 3 story mid terrace property located on a busy High Street
    • Investment let at £34,700 PA
    • Redevelopment potential to extend at the back and add an additional 2 flats (subject to the requisite consents)
    • Current retail occupier has been in occupation since 2013

    Description

    3 story mid terrace property forming part of a an establish shopping parade.

    Comprising of a Retail unit on the Ground floor, 1 bed/studio flat at basement level, 1 bed flat at first floor and 1 bed flat at 2nd Floor (accessed via the rear)

    The property is in reasonable condition through out and offers an excellent investment opportunity.

    There is further potential to redevelop the property by adding a a 2 story rear extension to the back of the property comprising of 2 x 1 bed flats. Precedent has been set in the area with several nearby properties having carried out similar extensions. (subject to the requisite consents)

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground floor - Retail unit


    Ground floor/Basement - Studio flat, Kitchen/Diner, Shower room/WC.


    1st Floor - Living/bedroom, kitchen/diner, Shower room/WC


    2nd Floor - Living/bedroom, kitchen/diner, Shower room/WC


    Tenancy

    Retail unit - Let to Valley Homes Limited for a term of 10 years from 19th April 2013 at a rent of £9,500 per annum.


    Basement Flat - Let on a statutory periodic tenancy for £7,500 per annum commencing on 1st August 2013


    25b Flat - Let on a 12 month assured shorthold tenancy for £9,000 per annum commencing on 4th March 2021


    25c Flat - Let on a statutory periodic tenancy for £8,700 per annum commencing on 6th July 2015


    Total income £34,700


    Notes

    The property has not been internally inspected by Savills and all internal photos were taken on previous inspections

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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

      Located on southern section of Chipstead Valley Road and located between the junctions of Brighton Road and Lion Green road.

      Abroad range of amenities can be found on Chipstead Valley road and Coulsdon Station is located 0.2 mile (approximate) and offers train services to Victoria station and Gatwick Airport.

      Transport

      Coulsdon Station - National Rail

      Southern Rail Service

      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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