A substantial mixed-use investment property informally arranged as a ground floor shop, a rear 1-bedroom apartment, a first floor 3-bedroom flat and a further 2-bedroom bungalow to the rear. The property is partially let but once fully occupied we anticipate a potential gross annual rent in the region of £44,500 making this a superb and potentially high-yielding investment. 8 WEEK COMPLETION AVAILABLE
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 4th November 2021 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
MIXED-USE INVESTMENT PROPERTY - SHOP, TWO FLATS AND REAR BUNGALOW
A mixed-use investment property arranged as a ground floor shop of approximately 400 sq ft, a well presented one-bedroom flat to the the rear with courtyard garden, a modern and spacious first floor 3-bedroom flat and a further 2-bedroom bungalow to the rear. 8 WEEK COMPLETION AVAILABLE
The property is situated on Kellaway Avenue close to the junction with Bishop Road, within easy reach of the shops and amenities of Coldharbour Road.
ACCOMMODATION /RENTAL DETAILS -
Please refer to floor plan for approximate room measurements and indicative internal layout.
GROUND FLOOR SHOP - Approx. 400 sq ft -
The shop is currently vacant and is arranged to provide a main sales area, kitchenette and WC. We would anticipate a potential market rent in the region of £8,500 per annum.
FIRST FLOOR FLAT -
This well-presented flat comprises a large kitchen/living room, three bedrooms and a shower room. The flat is let on an AST at £1,300 pcm from November 2020.
REAR GROUND FLOOR FLAT -
The rear ground floor flat is informally arranged to provide a kitchen/living room with doors to rear courtyard, a bedroom and shower room. We understand this part of the building has been utilised as a flat for circa 6 years and is let on an AST from September 2021 at £750 pcm.
REAR BUNGALOW -
Situated at the rear of the property and accessed via a lane from Bishop Road, the bungalow is informally arranged as a kitchen/living room, two bedrooms and a bathroom. We understand the bungalow has been rated separately for Council Tax since 2018 and is let on an AST at £950 pcm from September 2021.
ENERGY PERFORMANCE CERTIFICATE (EPCs) -
Ground Floor Shop: D
First Floor Flat: TBC
Rear Bungalow: TBC
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,000 plus VAT (£1,200 inc VAT) buyer's premium payable upon exchange of contracts.
*GUIDE PRICE -
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
RESERVE PRICE -
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a cheque/bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000
If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,200 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.
Maggs & Allen use all reasonable endeavours to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.