Home > Auctions > July 2022 19 July 2022 - 9:00am > Lot 73

July 2022: Tuesday 19 July 2022 - 9:00am
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    Key features

    • Investment let at £21,200 pa
    • Ground floor shop let to tenant trading as Dulwich Shoe Repairs
    • Shop tenant in occupation for over 11 years
    • Five flats above of which four have been sold off on long leases and one let on AST
    • Affluent and attractive South London location
    • Planning Permission granted to convert rear of the shop to a self contained flat
    • VAT Free Investment

    Description

    The property comprises a four storey mid terrace building arranged as a ground floor shop together with five studio and one bed flats on the basement, first, second and third floors. The upper parts benefit from separate access from Gipsy Road.

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please note that approximate floor areas have been taken from the VOA and the property has not been inspected by Savills.


    Ground Floor Shop - Retail/Ancillary - 40.80 sq m (439 sq ft)

    Flat 1 - Third floor one bedroom flat

    Flat 2 - Second floor one bedroom flat

    Flat 3 - Second floor studio flat

    Flat 4 - First floor one bedroom flat

    Flat 5 - Basement one bedroom flat


    Total Commercial Area - 40.80 sq m (439 sq ft)


    Tenancy

    Ground Floor Shop - Let to an individual trading as Dulwich Shoe Repairs on a 10 year lease from 01/02/2011 (holding over) at a rent of £10,500 pa

    Flat 1 - 125 year lease from 13/09/2018 at a ground rent of £125 pa

    Flat 2 - 125 year lease from 27/09/2018 at a ground rent of £125 pa

    Flat 3 - 1 year AST from 27/08/2019 at £10,200 pa (tenant in occupation since 2009)

    Flat 4 - 125 year lease from 30/08/2019 at a ground rent of £125 pa

    Flat 5 - 100 year lease from 11/04/2018 at a ground rent of £125 pa


    Total Rent - £21,200 pa

    Planning

    Planning permission was granted to convert the rear part of the ground floor shop to a self contained flat (reference: 21/01876/P3M). For more information please refer to the legal pack and the Lambeth Planning Authority website (www.planning.lambeth.gov.uk).


    Rent

    £21,200 pa

    Notes

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


    The seller has served notice pursuant to section 5B of the Landlord & Tenant Act 1987 on the residential tenants to which no responses have been received.


    VAT is not applicable.

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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

        The property is located close to Crystal Palace, approximately 6 miles south-east of Central London. The property is located on the north side of Gipsy Hill, in a prominent position forming part of a parade of shops. The property is less than half a mile from Gipsy Hill Station (Southern) and close to the green space of Norwood Park.

        Transport

        Gipsy Hill (Southern)

        Crystal Palace (Overground, Southern)


        6 miles south-east of Central London

        Legal documents

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        EPC rating

        The EPC rating for this property is D

        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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