Lot 11 55a Dennett Road, Croydon, CR0 3JD

Property Enquiries

Dominic Smith

dominic.smith@bidx1.com
02077034401
02077034401

Viewing/ Registration Enquiries

BidX1 Support Team

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

Vendor Solicitor

Jawad Rasheed

jawad@alcsolicitors.london
+44 (0) 2035 000 642
Description
Map
Viewings

Property Summary
  • Leasehold first floor self-contained flat
  • Two bedrooms, reception room, kitchen, shower room/wc
  • Investment producing £13,200 per annum
Tenure

Leasehold - Held on a lease for a term of 99 years from 31/12/1983 at a ground rent of £75 per annum (rising)

Note: We are advised by the vendor, that a Section 42 notice to extend the lease can be served at the purchasers request and costs prior to completion with all the rights of the said notice being assigned to the purchaser. Prospective purchasers are advised to read the legal pack in this regard.

Location

Situated between Mitcham Road and London Road. Public transport includes West Croydon railway station. Shopping amenities are at London Road. Recreation facilities can be found locally at Canterbury Recreation Ground and also at Wandle Park.

Description

A two-bedroom flat located on the first floor of a converted building arranged over ground and first floors, within a  popular area of South London.

Accommodation

Two bedrooms, reception room, kitchen, shower room/wc

Tenancy

Let on an assured shorthold tenancy for 12 months from July 2018 at a rent of £1,100 per month (holding over)

Note: We are advised that the flat is currently let at £1,300 per month due to the landlord utilising the services of a managing agent therefore the net rent received is  £1,100 per month. Prospective purchasers must rely on their own enquiries in this regard

Rental Information

Total Current Rent Reserved equivalent to £13,200 per annum

VAT
VAT Not Applicable.

*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. All lots sold “Subject to Vendor Confirmation” will be subject to the acceptance and confirmation by the Vendor. The highest bid will be presented to Vendor, the vendor will have to either accept, decline or make a counter offer the highest bid within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising the offer the Vendor is willing to accept. The Highest Bidder will have to either accept or reject the Vendor’s counteroffer. The Vendor reserves the ultimate right, apart from the auctioneer, to accept and to decline to sell to the highest or any bidder, without giving any reasons.
  8. 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.


Contact Dominic about this property