Home > Auctions > 23 April 2025 23 April 2025 - 9:00am > Lot 112

23 April 2025: Wednesday 23 April 2025 - 9:00am
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    Key features

    • An industrial site with further development potential for multiple dwellings or modernisation of the existing site (Subject to the requisite consents)
    • Site measures 792sqm (8,525sqft) and comprises a mixture of uses, including vehicle repair workshops and a hand car wash
    • Internal accommodation extends 4,941sqft (NIA)
    • The property is subject to 4 x separate lease agreements (all holding over)
    • Asset management potential to improve the passing rent (currently let on a low £9 per a sqft)
    • There is £160,508 in arrears, the benefit of these will be passed to the purchaser
    • Investment let at £44,464 p.a.

    Description

    Freehold industrial site (0.19 acres), comprising collection of outbuildings, light industrial and open yard space.

    There are currently 5 x commercial units, extending 4,941sqft (NIA). Units range in size 570 to 1,948 sqft and are currently occupied by MOT workshops and a hand car wash.

    The site is being sold with 4 x occupational leases, which are all holding over. With historical agreements in place, the rent is low and producing just £44,464pax (£9 psf on NIA).

    Potential to either increase existing income, whilst pursuing PP or to secure VP and occupy for one’s own use. Opportunity will appeal to investors, developers (residential or storage) and owner occupiers.

    Additional information

    Tenure

    Freehold

    Accommodation

    There are currently 5 x commercial units, extending 4,941sqft (NIA). Units range in size 570 to 1,948 sqft and are currently occupied by MOT workshops and a hand car wash.

    Tenancy

    The property is subject to 4 x separate lease agreements (all holding over)

    Please refer to the legal pack

    Please note that the current tenants are in arrears of £160,508 and the benefit of these will be passed on to the incoming purchaser

    Planning

    Part or the whole of the property maybe suitable for redevelopment subject to consents. All enquiries in this regard should be directed to the local authority, Lambeth Council.

    Website: www.lambeth.gov.uk

    Rent

    £44,464 p.a.

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.


    Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees.

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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.

        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.

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        Local information

        Property is situated on Waylett Place, directly behind Norwood Road in the London Borough of Lambeth.

        Norwood Road (A215) is a prominent through road in south London, connecting areas like Hearne Hill, West Norwood and Tulse Hill.

        The site is surrounded by a range of uses, including retail to the front, a new build residential scheme (4-7 storeys) directly behind (51-units) and a new 4-storey office scheme adjacent.

        West Norwood train station is just 0.3 miles to the south of the site, providing access to National Rail services directly into Central London. 

        Transport

        West Norwood train station - National Rail services

        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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