A vacant freehold period building in a popular secondary parade comprising two ground floor commercial units with ancillary basement, rear yard and garage. Separate planning permissions exist for the creation of a self-contained studio flat in the lower ground floor c.540 sq ft, and the combination of the two vacant shops to provide a single E class unit c.400 sq ft. The first & second floor apartment is sold off on a long lease (992 years unexpired) at a ground rent of £350 PAX. Potential may exist for the creation of further residential accommodation and/or considerable extension of the existing commercial space, subject to planning permission.
Auction date
To be sold by online auction on Friday 16th December 2022 with a 6 WEEK COMPLETION, bidding will open at 10.00.
Registration
All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.
Location
* Busy secondary parade * Lee Station is within 200 yards
and offers regular services to London Bridge, Charing Cross & Cannon Street * Neighbouring shops serve a dense and affluent residential catchment area
Description
* Two commercial units & basement * Consent to convert basement into a studio flat (540 sq ft) * Approval to combine commercial units
Accommodation
The property comprises two ground floor commercial units with ancillary basement
Outside
Rear yard and garage
EPC rating
E
Tenure
Freehold with vacant possession.
Lease
The first & second floor apartment is sold off on a long lease (992 years unexpired) at a ground rent of £350 PAX.
Planning
Full planning permission was granted by the London Borough of Lewisham on 29th June 2021 under ref DC/21/122315 for the “demolition of existing garage; change of use and conversion of the existing ancillary storage basement area to self-contained residential flat…” A further approval was received on 16th November 2022 under ref 22/128200 for the “installation of a new shop front…”. This latest approval provides for the combination of the two existing shops to form a single E class unit.
Current rateable value
128 Left - £2,375. 128 Right - £7,400. This is the rateable value for the property. It is not what you pay in business rates or rent. Your local council uses the rateable value to calculate the business rates bill.
Please note
All plans are strictly for identification purposes only and should not be relied upon. Please refer to the legal pack for the Land Registry plan of each lot. Any plans are reproduced from Ordnance Survey maps with kind permission of the Controller of Her Majesty’s Stationery Office @ Crown copyright. All rights reserved, Licence no: 100020449.
Legal pack
For each lot there are Special Conditions of Sale and other documentation provided by the vendor’s solicitors. If you wish to receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor.
Additional fees
A buyers charge of £1,200 including VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (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.
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