- Pair of three-floor buildings and two garages
- Comprising four self-contained flats (2 x 1 bedrooms & 2 x 3 bedrooms)
- Planning permission for conversion of flat 68b to create two separate flats
- Investment producing £76,200 per annum
- Reflecting a gross yield of 6.35%
Situated at the junction with Ebsworth Street. Public transport includes Honor Oak Park railway station. Shopping amenities are at Brockley Rise. Recreation facilities can be found at Blythe Hill Fields and the nearby Horniman Museum and Gardens.
Total Current Rent Reserved £76,200 per annum
Planning permission was granted on appeal on the 29/7/2019 (Ref: C5690/W/18/3217538) for the extension and sub division of an existing apartment to create two x 1 bed self-contained apartments at 68b Bovil Road.
Copies of the appeal decision and plans are available from the auctioneers.
|Floor||Accommodation||Tenancy||Effective Date||Rent per annum|
|Ground floor (68a)||Reception room, bedroom, kitchen, bathroom/wc|
Gross internal area 54.9 sq.m (592 sq.ft)
|Six month assured shorthold tenancy||31/01/2020||£16,200|
|First / Second floor (68b)|
(*see planning note)
|Three bedrooms, reception room, kitchen, bathroom/wc|
Gross internal area 95.5 sq.m (1,028 sq.ft)
|Six month assured shorthold tenancy||Expiring 27/3/2020||£22,800|
|Ground floor (70a)||Reception room, bedroom, kitchen, bathroom/wc, separate wc|
Gross internal area 69.89 sq.m (655.4 sq.ft)
|Six month assured shorthold tenancy||Expiring 2/8/2020 (renewal)||£14,400|
|First / Second floor (70b)||Three bedrooms, reception room, kitchen, bathroom/wc|
Gross internal area 90.6 sq.m (975.2 sq.ft)
|Six month assured shorthold tenancy||Expiring 28/6/2020||£22,800|
|Outside: Two garages 65 sq.m (700 sq.ft)|
Note: We understand that the tenants of 70a are renewing their tenancy at £1,200 per month (£14,400p.a.). Prospective purchasers are advised to refer to the legal pack in this regard.
There is further development potential to the garages at the rear, subject to the necessary planning consents. Prospective purchasers must rely on their own enquiries in this regard.
*Terms and Conditions
Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.
- The reserve price is the minimum price at which the property can be sold at auction.
- Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
- Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
- The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In the case of a joint agent this administration fee will be £2,000 (exclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
- To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,500 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee of £1,000 inc. VAT payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
- Please note that Lots may be sold or withdrawn prior to auction.
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