Lot 05 27/27a Oldridge Road & 1/1a Pickets Street, Balham, SW12 8PL

Bidding Closed

SOLD FOR

£1,801,000

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

Anthony Akka

anthony.akka@prioritylaw.co.uk
0161 207 7600
Description
Map
Viewings

Addendum
Whilst the Receivers believe that 1 Pickets Street is designated as a House of Multiple Occupation (HMO), they have been unable to identify whether a formal license exists. As such the Receivers are not in a position to confirm if the property is a fully licensed HMO and prospective purchasers are advised to make their own enquiries.
Property Summary
  • Freehold residential investment
  • Large corner building
  • Includes three flats and six letting rooms (HMO)
  • Popular south west London suburb
  • Producing £103,200 per annum
  • On the instructions of James Liddiment and Paul Greenhalgh of Duff and Phelps acting as Joint Fixed Charge Receivers
Tenure

Freehold

Location

Balham is a popular suburb of south west London lying about 4 miles south west of Central London. It is accessed via the A24, of which Balham High Road forms part and lies just to the south of Clapham Common. The area is well served by numerous bus routes as well as underground and overland rail services from nearby Balham and Wandsworth Common railway/underground stations and Clapham South underground station, all of which are within a few minutes' walk of the property.

The property commands a prominent position at the junction of Oldridge Road and Pickets Street in a mainly residential location. The shopping amenities of Balham High Road are close providing numerous shops, bars and restaurants including Waitrose and Nandos.

Description

A prominent corner building of traditional construction beneath a pitched roof. The building is arranged as three self contained flats (27/27a Oldridge Road and 1a Pickets Street) and an HMO providing six letting rooms (1 Pickets Street). Externally there is a small rear courtyard and an off-street parking area to the front corner and the side.

Accommodation

Planning

Wandsworth Borough Council (020 8871 7620) www.wandsworth.gov.uk

VAT
Please refer to Legal Documents
Property Table
AddressFloorAccommodationSizeTenancyRentPA
TOTAL  315.95 sq m (3,401 sq ft) £103,200
27 Oldridge RoadGroundReception room/kitchen, two bedrooms (one with en-suite), bathroom/WC58.99 sq m (635 sq ft)12 months' AST from 15/08/2020 (1)£19,200
27a Oldridge RoadFirstReception room/kitchen, two bedrooms (one with en-suite), bathroom/WC55.46 sq m (597 sq ft)AST (refer to legal pack)£18,600
1a Pickets StreetSecondReception room/kitchen, two bedrooms, shower room/WC56.48 sq m (608 sq ft)12 months' AST from 04/08/2018£17,400 (2)
1 Pickets StreetGround, first and secondGround floor - Reception room, bedroom, shower room/WC, kitchen/diner, rear courtyard
First floor - Four bedrooms (one with en-suite WC), bathroom/WC
Attic floor - Bedroom with en-suite shower room/WC
145.01 sq m (1,561 sq ft)12 months AST from 08/08/2020 (3)£48,000

(1) Break clause after 6 months
(2) Original rent £18,600pa but reduced in January 2021
(3) Break clause after 10 months

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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