November 2021: Wednesday 10 November 2021 - 9:00am
Your Bid
Guide price TBA
Hammer price

Withdrawn

Withdrawn Prior

Sold

Sold Prior

Sold Post

Place a proxy bid on Lot #{{ lot.total_lot_number }}

Guide Price:

TBA
Bid now

Floorplan
    • View Virtual Tour

      Play

    Remove from wishlist

    Add to wishlist

    Key features

    • Currently Let on a Management Agreement to Mears Group Plc since December 2017
    • Comprising Twelve x Studio Flats and Two x 1 Bedroom Flats. Total GIA approximately 343.18 sq m (3,694 sq ft)
    • Certificate of Lawfulness granted for 14 self-contained Flats
    • GROSS YIELD OF 6.12% off the guide price
    • All bills paid by the Tenant. The only outgoings for the Landlord are for the Building Insurance and Communal Electricity supply
    • The vendors have been in negotiations with a Housing Association to enter into a 10 year IRI Lease with no break clauses
    • Current passing rent £244,860.00 per annum
    • The property is NOT a registered HMO and all Units are banded for Council Tax and have Separate Meters
    • Further development potential at the rear subject to usual consents

    Description

    Let on a Management Agreement to Mears Group PLC, which has been in place since 22nd December 2017

    All occupiers pay for council tax and utilities

    All units are banded for council tax and have separate meters

    There is no gas in the building. All flats run solely on electricity

    The property is NOT registered as an HMO

    The vendors have been in negotiation with a Housing Association regarding a 10 year IRI lease with no break clause, linked to full LHA rates totalling £215,116.72 per annum. The buyer has the option to keep the current tenants and not enter into this lease

    Further development potential at the rear subject to usual consents

    Additional information

    Tenure

    Freehold.

    Planning

    The property is to be offered with the benefit of Certificate of Lawfulness for use of 66 Warwick Road as 14 self contained flats

    Reference - CL/21/03821

    Date Granted - 26th July 2021

    Notes

    8 week completion available.


    Let on a Management Agreement to Mears Group PLC, which has been in place since 22nd December 2017

    All occupiers pay for Council Tax and utilities

    All units are banded for Council Tax and have separate meters

    There is no gas in the building. All flats run solely on electricity

    The property is NOT registered as an HMO

    The vendors have been in negotiation with a Housing Association regarding a 10 year IRI lease with no break clause, linked to full LHA rates totalling £215,116.72 per annum. The buyer has the option to keep the current tenants and not enter into this lease

    Further details are available in the legal documents


    Joint Agent: Doris Ishack

    DI Properties Development and Investment

    doris@diproperties.co.uk

    02076256555


    Joint Agent: Doris Ishack

    DI Properties Development and Investment

    alec@diproperties.co.uk0

    02076256555

      • View Virtual Tour

        Play

      Arrange a viewing

      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

      Please select a time from the options below

      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.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      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 on the north side of Warwick Road, between its junctions with Longridge Road and Nevern Square

      Shops and amenities are available in Earls Court

      Earls Court underground station (Piccadilly and District Line) is situated 0.2 miles to the south east

      The A3220 leads to the A4 and A40

      Philbeach Gardens are nearby

      Transport

      Underground - Earls Court (Piccadilly and District Lines)

      National Rail - West Brompton

      Overground - West Brompton

      Legal documents

      Login to view legal documents

      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