The property compirses of a former public house converted to residential, comprising eight self-contained flates across lower ground, ground, first and second floors. The Net Sales Area is approx. 3,868 sq ft.
The current passing rent for the building is £115,080.
The residential element comprises 4 x duplex lower ground and ground floor flats, 2 x first floor flats and 2 x 2nd floor flats all comprising one or two bedrooms, a bathroom and a living and kitchen space. The configuration of flat sizes and bedroom numbers are listed in the accommodation schedule.
The property also benefits from a small private garden to the rear of the property which flats 2 and 4 currently have access to.
The property provides good asset management potential and may benefit from upwards / rear expension subject to obtaining the necessary consents.
Location
The property is located on the north side of Sumner Road, in the London Borough of Croydon south of Charing Cross.
Croydon is a large town in South London located 1 miles southeast of the property, and benefits from an extensive range of shops, bars and restaurants as well as vast amount of green spaces and recreational facilities.
The property is situated in close proximity to Croydon University Hospital, which is 0.6 miles to the north of the property, which provides a large number of job opportunities in the area.
The property is also well served by public transport with an Access Level (PTAL) rating of 3. West Croydon station has links to both the Overground and National Rail network with services running to London Bridge, London Victoria. East Croydon Train and Tram Station has regular Southern and Thameslink services to London Victoria, London Bridge, Gatwick Airport and the South.
There are also several bus routes which operate nearby providing services into Croydon town centre and further afield at regular intervals.
Accommodation
Flat 1 - Lower Ground/Ground Floor - 2 bedrooms - 613 sq ft (56.9 sq m)
Flat 2 - Lower Ground/Ground Floor - 1 bedroom - 589 sq ft (54.7 sq m)
Flat 3 - Lower Ground/Ground Floor - 2 bedrooms - 604 sq ft (56.1 sq m)
Flat 4 - Lower Ground/Ground Floor - 2 bedrooms - 616 sq ft (57.2 sq m)
Flat 5 - First Floor - 1 bedroom - 311 sq ft (28.9 sq m)
Flat 6* - First Floor - 1 bedroom - 401 sq ft (37.3 sq m)
Flat 7 - First Floor - 1 bedroom - 311 sq ft (28.9 sq m)
Flat 8 - First Floor - 1 bedroom - 423 sq ft (39.2 sq m)
Total - 3,868 sq ft (359.2 sq m)
* Access was unavailable for Flat 6 at time of inspection, size approximate from previous valuation report. All measurements approximate. Interested parties to rely on their own enquiries in verifying sizes.
Terms
EPC Rating - We understand that each unit benefits from EPC Rating of C.
Copies of EPCs are available within the dataroom.
Council Tax - The council tax for the flats 1-4 is band C and the council tax for flats 5-8 is band B.
Planning - There are two relevant planning permissions applicable to the site. The main consent in 2014 REF: 14/01037/LE - Lawful Dev. Cert. for the continued use as a 4 one bedroom and 4 two bedroom flats.
The second consent was in 2996 REF: 06/05117/P - for the conversion of the public house to form a 6 one bedroom and 2 studio flats, the erection of an extension at the basement level and single storey rear extension as well as a formation of vehicular access onto Lambeth Road and provision of parking space. Which was granted in 2006.
We would advise all parties to rely on their own enquiries to satisfy themselves in relation to the planning permission relating to the site.
Local Authority: London Borough of Croydon.
Service Charge - N/K
Tenure - The property is held on a single Freehold title (SGL541873), as well as three leasehold titles for Flat 1 (SGL730729), Flat 4 (SGL730730) and Flat 9 (SGL730731), all which have a lease term of 112 years remaining.
VAT - TBC
Method of Sale - The property will be sold by way of infomal tender (unless sold prior). Offers are sought for the Freehold interest.
Dataroom - The dataroom contains relevant information including floor plans, title documents and other associated documentation. Access to the dataroom is available by request.
Asking Price - Offers of £1,750,000 (One million, seven hundred and fifty thousand pounds) are invited.
Legal Costs - Each party is to be responsible for their own legal costs incurred throughout the transaction.
Sale by Receivers - The property is offered for sale on behalf of the Joint LPA Receivers ('The Receivers').
The Receivers offer no title or collateral warranties associated with this property or transaction.
The Receivers act without personal liability.;
Tenancy Schedule - See attached brochure for information
Specification
- Freehold and long leasehold interests
- 8 self-contained private units
- Net sales area of 3,868 sq ft
- 4 x duplex lower ground and ground floot flats, 2 x first floor flats and 2 x 2nd floor flats
- Approximately 0.6 miles from West Croydon station and 1.1 miles from East Croydon station
- Offers of £1,750,000 (One million seven hundred and fifty thousand pounds) are invited