Home > Auctions > December 2022 14 December 2022 - 9:00am > Lot 89

December 2022: Wednesday 14 December 2022 - 9:00am
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    Key features

    • Ground floor let to a church at £60,000 p.a.
    • Upper floors let at £42,000 p.a.
    • Located on a prominent corner position
    • Future alternative use and development potential (subject to the existing lease and requisite consents)
    • Two possible redevelopment options have been drafted illustrating a student led scheme and residential flat scheme (subject to the requisite consents)
    • Total site area approx. 210 sq m (2,260 sq ft)
    • Fronts busy main road, surrounded by mixture of commercial and residential properties.
    • Within close proximity of Burgess Park and adjoins four storey residential block.
    • 8 week Completion

    Description

    A semi-detached three storey property constructed over part basement. There is a single car garage to the rear.

    The property historically held a premises licence which allowed for the sale of alcohol from 10:00am until 11:00pm on Monday to Saturday and from noon until 10:30pm on Sunday. Parties interested in re-opening the site as a public house are encouraged to undertake their own enquires with the London Borough of Southwark’s licensing department.

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please note that the internal configuration has been provided by the vendor and the property has not been inspected by Savills.


    The accommodation can be summarised as follows:

    Ground Floor - Former public house now occupied by a community group on a temporary basis.

    First Floor - Four bedrooms, kitchen, bathroom and a separate WC.

    Second Floor - Five bedrooms, bathroom and a separate WC.

    Basement - Cold beer store and ancillary storage areas.


    The below site area has been taken from pro map.


    Total Site Area - an approx. 210 sq m (2,260 sq ft)


    Tenancy

    181 Camberwell Road (Ground Floor and Basement)

    • Let to Christ Apostolic Church
    • let on a 5 year lease from 06/01/2018
    • Investment let at £60,000 p.a.


    181 Camberwell Road (Upper Floors)

    • Let to JC Empreas Ltd
    • let on a 4 year lease from 02/04/2019 to 01/04/2023
    • Investment let at £42,000 p.a.


    Planning

    Two possible redevelopment options of the site have been drafted.


    Option 1

    • 2 x Commercial units on the Ground floor
    • 1 x One Bedroom
    • 2 x Two Bedroom duplex
    • 6 x Two Bedroom flat
    • Roof Garden on the top floor

    Total = 9 residential units and 2 x commercial units


    Option 2

    • 44 student units, with associated bike storage and communal kitchen space.
    • Constructed over Ground and 4 upper floors


    Please note that the above information and associated plans are only for illustrative purposes and do not constitute as approved planning. Any incoming purchaser must rely on their own due diligence and the above information can not be relied on.


    Rent

    £102,000 p.a.

    Notes

    Joint Auctioneers:

    

    Panayiotis Themistocli

    panayiotis.themistocli@agg.uk.com

    M: 07973 856 232


    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. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.

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        Local information

        The property lies within an area administered by the London Borough of Southwark, approximately four kilometres (2.5 miles) south east of central London (Trafalgar Square).

        It occupiers a prominent corner position at the junctions of Camberwell Road (A215) at its junction with New Church Road within a mixed residential and commercial area.

        There are many shops, bars and restaurants along Camberwell Road, Camberwell Green is a short walk to the south.

        Nearby public transport links include Elephant and Castle Underground station (Bakerloo and Northern Line) which is located a short distance to the north and provides frequent services into the West End (Charing Cross) with a journey time of just six minutes.

        There are in addition a number of services running along Camberwell Road providing access to Elephant and Castle, the City and West End.

        Transport

        Underground - Elephant & Castle (Bakerloo & Northern Line)

        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.

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