Home > Auctions > 8 November 2022 08 November 2022 - 9:00am > Lot 144

8 November 2022: Tuesday 08 November 2022 - 9:00am
Return to catalogue   Previous lot Next lot 
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Withdrawn

Withdrawn Prior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

Property details

Contact an agent

    • View Virtual Tour

      Play

    Remove from wishlist

    Add to wishlist

    Key features

    • Existing 17 apartments currently let out on £267,099 p.a.
    • Car park currently let on a flexible agreement at £12,000 p.a.
    • Planning permission approved for 18 private apartments on the existing car park
    • Potential for a roof top development on the (existing building) Albion House comprising of 4 flats (subject to the requisite consents)
    • Existing apartments are fitted out to a modern standard (2019) and benefit from having a car parking space
    • Asset management potential to improve the passing income
    • Possible Multiple Dwelling Relief for SDLT (incoming purchaser must do there own due diligence)
    • 12 week completion

    Description

    The site extends to 0.14 hectares (0.34 acres) and comprises two parts.

    Albion House - Investment Let on AST's at £267,099 p.a.

    A three storey building which was converted from offices to 17 residential apartments in 2019.

    The works included the installation of new aluminum windows, new roof covering (insurance backed) and full internal reconfiguration including plumbing and electrical installations (building regulations compliance and drawings to be found in data room).

    The Car park is currently being used to store cars and is let on a flexible lease term on £12,000 p.a.

    Additional information

    Tenure

    Freehold

    Accommodation

    Albion House


    Tenancy

    Albion House

    17 Apartments let out on an AST's

    • Tenancy schedules can be found in the legal pack
    • Total rent £267,099 p.a.

    Car Park

    • Let on a licence
    • Landlord Break option 6 week notice
    • Total rent £12,000 p.a.

    Planning

    London Borough of Brent

    Planning Ref: 19/1840 Granted 7th January2022

    Description: Construction of a 4-storey residential building to provide 18 apartments with the provision of car parking spaces, covered cycle storage spaces, bin stores, rooftop stair case to serve communal area and associated landscaping.

    Section 106 Agreement: £258,000 is due as an off-site affordable housing contribution

    CIL liability: £520,916.62

    Other financial contributions may become due please refer to the legal pack.


    Approved Scheme


    Rent

    £279,099 p.a.

    Notes

    Please note the site areas provided are approximate. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. Please note that a number of the photos are CGI's The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.

      • View Virtual Tour

        Play

      Contact

        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.

        Savills is a trading name of Savills plc. Savills is committed to ensuring that your privacy is protected. This privacy policy explains how we use the information we collect about you, how you can instruct us if you prefer to limit the use of that information and procedures that we have in place to safeguard your privacy

        Local information

        470 Church Lane is located in Kingsbury Green, north west London, approximately 11 kilometres from Central London.

        Colindale is to the north and Wembley and and Brent Cross are to the south. The property is located in a prominent position on Church Lane (B454), close to the junction with Kingsbury Road (A4006). There are local conveniences on Church Lane and Kingsbury Road. The site enjoys excellent access to open space and leisure facilities with Church Lane Recreation Ground, Fryent Country Park, Welsh Harp and Brent Reservoir and Roe Green Park all within 1kilometre of the site and the site is immediately opposite Kingsbury Green. Brent Cross Shopping Centre is 3.5 km (2.3 miles) to the south east.

        Transport

        Kingsbury London Underground Station is 1.4 kilometres to the west and provides direct Jubilee Line services to Bond Street (23 minutes), Waterloo (28 minutes) and Canary Wharf (38 minutes)(source: tfl.gov.uk). Numerous bus routes operate along Church

        Legal documents

        Login to view legal documents

        EPC rating

        The EPC rating for this property is E

        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.

        Buying a property Common auction conditions Auction notices

        Addendums