Lot 11 South Bank Lodge, South Bank, Surbiton, KT6 6DA

Property Enquiries

Simon Bailey

simon.bailey@bidx1.com
+44 (0) 7732 681 156

Viewing/ Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Sarah Swann

sarah.swann@knightsplc.com
0161 804 9442
Description
Map
Viewings

Property Summary
  • Long leasehold residential investment
  • Comprises 11 two bedroom flats and 11 garages
  • Town centre location opposite Surbiton railway station
  • Communal gardens
  • Fully let
  • Producing £159,145 per annum
Tenure

All 11 flats and 11 garages are held on separate long leasehold interests for a term of 999 years from 11/10/1971 at a peppercorn rent.

Location

Surbiton is a Greater London suburb lying within the Royal Borough of Kingston upon Thames. It lies adjacent to the River Thames about 14 miles south west of Central London and can be accessed via the A240, A307 and A243, which provide access to the A3 and the M25 beyond at junctions 9 and 10. Surbiton railway station provides regional rail services as well as regular services to London Waterloo with a journey time of approximately 18 minutes. In addition, the area is served by numerous bus services and both Heathrow and Gatwick Airports are easily accessible being 9 miles and 21 miles distant respectively.

South Bank lies just to the south of the town centre running east off Glenbuck Road and almost adjacent to Surbiton railway station. The property lies on the north side of the road just to the west of its junction with Hazelwood Court in a predominantly residential area and within close proximity to a number of nurseries, primary schools and secondary schools.

Description

11 flats and 11 garages forming part of a larger purpose-built residential development arranged over three floors in two buildings. All of the flats provide two bedrooms, kitchen, reception room and bathroom/WC. One of the flats is subject to an underlease expiring in 2050 (refer to the tenancy schedule and the legal pack). The 11 garages sit to the rear of the site and form part of two single storey terraces.

Externally there are well maintained communal gardens and some surface car parking.

Accommodation

VAT
Please refer to Legal Documents
Property Table

Unit

Accommodation

Expiry

Size (sq ft)

Rent (£PA)

Flat 2

Two bedroom flat

27/3/21

700

£14,400

Flat 3

Two bedroom flat

9/3/21

635

£15,000

Flat 7

Two bedroom flat

19/10/19

732

£16,200

Flat 15

Two bedroom flat

27/11/20

656

£13,800

Flat 18

Two bedroom flat

19/7/20

646

£15,000

Flat 21

Two bedroom flat

2/5/20

689

£15,000

Flat 24

Two bedroom flat

11/12/20

635

£15,000

Flat 27

Two bedroom flat

28/2/21

635

£15,600

Flat 29

Two bedroom flat

20/8/20

689

£16,200

Flat 33

Two bedroom flat

27/5/50

646

£25

Flat 38

Two bedroom flat

30/11/20

667

£15,000

Sub-total

£151,225

 

 

£151,225

Garage 3

 

23/9/14

 

£600

Garage 5

 

 

 

Vacant

Garage 9

 

24/9/20

 

£900

Garage 10

 

27/5/50

 

Included with Flat 33

Garage 11

 

14/5/19

 

£900

Garage 12

 

30/9/19

 

£900

Garage 13

 

28/2/17

 

£900

Garage 15

 

29/7/20

 

£960

Garage 18

 

20/3/09

 

£900

Garage 19

 

16/6/15

 

£900

Garage 20

 

16/2/21

 

£960

Sub-total

£7,920

 

 

£7,920

TOTAL

£159,145

 

 

£159,145

*All flats are let on ASTs with the exception of Flat 33 (refer to legal pack).

EPC

Please refer to the legal pack


*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.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. 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.
  3. 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).
  4. The guide price for the Lot does not include the administration fee of £1,250 (inclusive of VAT) charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (inclusive 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.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,750 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.


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