June 2020: Wednesday 24 June 2020 - 10:00am
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Floorplan
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    Key features

    • Mixed use income producing investment opportunity
    • Busy area close to the University
    • Current rent reserved £54,730* per annum

    Description

    A three storey terraced building with basement arranged as three flats, a ground floor retail unit and rear office. Approximate total area 186 (2,010 sq ft)

    Additional information

    Tenure

    Freehold

    Accommodation

    We are advised the property is currently arranged as below however, neither Savills or the LPA Receivers have had the opportunity to inspect internally - interested parties must rely on their own enquiries as to the current configuration.

    Lower ground floor flat - Reception room, two bedrooms, kitchen, bathroom/wc. Approximate area 52.04 sq m (560 sq ft)

    Ground floor - Divided two provide two units with a total area of approximately 42.4 sq m (457 sq ft)

    First floor flat - Reception room, bedroom, kitchen, bathroom/wc. Approximate area 38 sq m (408 sq ft)

    Second floor flat - Reception room, bedroom, kitchen, bathroom/wc. Approximate area 54.2 sq m (584 sq ft)

    Tenancy

    *The receiver has been supplied with three assured shorthold tenancy agreements at rents of £10,930 pa, £17,400 pa and £14,400 per annum which are available within the legal pack. The ground floor office/retail unit is subject to a 10 year lease commencing 24/12/2018 at a rent of £12,000 per annum. Refer to the legal pack for further information

    Planning

    We are advised that a planning application has been made (not by the LPA Receiver) in March of this year, for full retrospective planning permission for one studio apartment in the basement and two x one bedroom flats on the first and second floors. Full details area available within the legal pack and on the councils website ref: DC/20/116355

    Rent

    £54,730* per annum with the ground floor offices vacant

    Notes

    Six weeks completion available on this lot

    We have been provided with plans showing the existing accommodation and have amended the particulars accordingly in orange.

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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.

      Local information

      Situated in a prominent and busy location to the south side of New Cross Road, close to the junction with Queens Road. The property is surrounded by a broad range of local retailers - New Cross Gate is approximately half a mile to the east and offers many shops pubs and restaurants. New Cross Gate national railway station provides a frequent service to London Bridge with a journey time of approximately 10 minutes. Goldsmith University is close by.

      Transport

      National Rail, New Cross Gate

      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.

      Addendums